Golden Nugget Online Gaming will join the public markets this week. On Tuesday, shareholders of Landcadia Holdings II (NASDAQ:LCA)., a special-purpose acquisition company, better known as SPAC, approved a merger with the fast-growing online gambling company . That wasn’t a surprise. The deal was well received by investors, who have bid up LCA stock more than 100% since its announcement.
Following the closing of the merger, Landcadia Holdings plans to change the name of the combined company to Golden Nugget Online Gaming and to change its ticker symbol to GNOG. Stock will trade under this ticker starting tomorrow.
Upon the closing of this business deal, the Company will change its name to “Golden Nugget Online Gaming, Inc.” and will be referred to as “New GNOG”.
Upon the Closing of transaction, New GNOG will be organized in an umbrella partnership C-corporation, or“Up-C” structure, in which substantially all of the assets of New GNOG will be held indirectly through GNOG LLC.
Tilman J. Fertitta, one of LCA sponsors and their Co-Chairman and CEO, indirectly owns all of the equity interests in LF LLC, GNOG HoldCo and GNOG.
Tilman J.Fertitta is an American billionaire businessman and television personality and CEO of Fertitta Entertainment, Inc., which owns the restaurant business Landry’s, Inc., the Houston Rockets, and the Golden Nugget Hotel and Casinos.