DraftKings to buy Golden Nugget Online for $1.56 billion, as gaming’s M&A streak continues

The wild spate of mergers and acquistions in the gambling industry continued Monday as DraftKings agreed to acquire Golden Nugget Online Gaming for $1.56 billion in stock. Golden Nugget Online shareholders will receive 0.365 shares of DraftKings stock, which puts the offer at a 53% premium to Golden Nugget Online shares’ closing price on Friday. Golden Nugget Online shares surged nearly 48% on the news, while DraftKings stock remained relatively flat after the deal’s announcement. DraftKings has a market cap of $20.68 billion. Golden Nugget Online CEO Tilman Fertitta owns…

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