Jun-29-20 09:54AM : Online Casino Golden Nugget To Go Public Through Landcadia Acquisition. The news of the merger between the SPAC and Golden Nugget first surfaced in June 2020. Golden Nugget stock is a buy based on the strong growth outlook. Percentage Held by Insiders. Acorns vs. Robinhood: Popular Investment Platforms, Explained, Chick-fil-A Is a Private Company, No Plans to Go Public. The stock is currently rising in what appears to be a rising triangle, a bullish continuation pattern. Mark Hake runs the Total Yield Value Guide which you can review here. Golden Nugget Online Gaming is being publicly traded on the Nasdaq under the ticker symbol “GNOG.” Currently, the stock isn't being tracked by any Wall Street analysts. I think I know why it hasn’t named a date yet. View real-time stock prices and stock quotes for a full financial overview. That implies that it lost a number of major online sporting bets. Nasdaq Article printed from InvestorPlace Media, https://investorplace.com/2020/10/lca-stock-should-rise-after-merger-with-golden-nugget-online-gaming/. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Some of those shares in this secondary offering are from existing shareholders. Golden Nugget Online Gaming, Inc. ("GNOG" or the "Company") reported selected financial results for the second quarter of 2020. Post closing, the combined company will traded on NASDAQ with the ticker “GNOG”. Today, December 30, the companies executed the final step of the deal. Digital casino company Golden Nugget Online Gaming (NASDAQ:GNOG) isn’t the … By the way, this deal was supposed to have closed in the third quarter. ... Business Wire. That is … The deal gave Golden Nugget an estimated valuation of $745 million or 6.1x estimated 2021 sales of $122 million. Things should look much better for LCA stock (i.e., GNOG stock) after the merger. 1125 N. Charles St, Baltimore, MD 21201. Landcadia Holdings II, Inc. Completes Acquisition of Golden Nugget Online Gaming -- Changes Name to Golden Nugget Online Gaming, Inc.-- Class A Common Stock … Upon completion of the business combination, Landcadia changed its name to Golden Nugget Online Gaming, Inc. Motley Fool +26.03%. Golden Nugget Online Gaming Stock Is a Risky Collection of Headwinds and Shaky Finances Jan. 11, 2021 at 7:40 a.m. For example, neither TipRanks.com nor Marketbeat.com show that there are any analyst reports on LCA stock now. A SPAC merger is not a qualifying event that mandates such a blackout unless the company is raising PIPE-related (private investment in public equity) capital for the merger. The merger and new trading symbol will also likely cause the stock to skyrocket. With the huge spike, is Golden Nugget stock still a good investment? This could have a dampening effect on GNOG stock’s prospects after the merger closes. It protects the GNOG shareholders from a scenario where Fertitta sells down his stake and yet can still control the board. All rights reserved. When Landcadia merges with Golden Nugget Online Gaming, the new symbol will be GNOG. Golden Nugget will likely generate sales of $122 million in 2021. This is likely to change once the merger goes through. Golden Nugget Online Gaming, Inc. GNOG 20.88 0.50 (2.45%). The company plans to introduce its online casino games in Michigan and Pennsylvania this year. They foresaw this scenario developing with a bad outcome. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. However, keep in mind, as I pointed out last month, that Golden Nugget has been much more profitable than DraftKings. The company will likely benefit as states continue to legalize online gambling. Landcadia, having completed the purchase, officially changed its own name to “Golden Nugget Online Gaming” and its stock symbol to GNOG. Golden Nugget is an online gaming and digital sports entertainment company. Why? The deal should close soon, despite some opposition from LCA stock holders and the fact that a date for the shareholder vote has not yet been set. On December 30, 2020, Golden Nugget Online Gaming (GNOG) company went public through the SPAC (special purpose acquisition company) route. Copyright © Percentage Held by Institutions. For example, Golden Nugget Online might expect that it will experience an uplift in its stock price after the merger, just like DraftKings (NASDAQ:DKNG). That stock started out as a special purpose acquisition company (SPAC). Golden Eagle Coin's Pre-1933 Gold Coins inventory contains an extremely competitive variety. Historical Stock Chart From Dec 2020 to Jan 2021 Golden Nugget Online Gam... (NASDAQ:GNOG) ... {symbol}} Message Board See More Message Board Posts. 14 Things to Know About EV Play Evergrande Auto >>>, Pending Golden Nugget Merger Should Push Up Landcadia Holdings II Stock, the company made an interesting 8-K filing, Fertitta will be the controlling shareholder, The 7 Best Dividend Stocks To Buy On The Market Today, Louis Navellier and the InvestorPlace Research Staff, 3 EV Charging Stocks to Buy for Huge Gains in the 2020s, Stock Market Live Updates Tuesday: Earnings, Social Media Buzz Steal the Show, Don’t Buy CCIV Stock Now. Keep in mind that most firms are not in a black-out period as they normally would be in the normal IPO process. An amendment was made to the purchase agreement to limit Mr. Fertitta’s supervoting control over the company. The investor added that the company is still in the number one spot in New Jersey. In effect, this is a bullish sign for the stock. Golden Nugget is an early leader in the fast-growing ... which means investors can buy the stock in anticipation of the deal closing to gain exposure. GNOG stock stumbles out of the gate. Benchmark initiates coverage on Golden Nugget Online Gaming (GNOG +4.1%) with a Buy rating. Copyright © 2021 InvestorPlace Media, LLC. In the date of publication, Mark R. Hake did not have (either directly or indirectly) any positions in any of the securities mentioned in this article. Benzinga +17.32%. It could be that Golden Nugget may have had the same betting experience. But once its reverse merger closed, the newly named DKNG stock doubled from the period when it was announced. Landcadia wanted to negotiate one further change before that happens. In addition to live television coverage of the ceremony, the NYSE will live stream the opening bell ringing on its website, beginning at 9:29 a.m. Although its revenue was in line with guidance, the company’s profit margins are likely to be lower. Golden Nugget Online Gaming went public through a blank-check company, Landcadia Holdings II (LCA). Is GNOG stock a good investment? Investors can expect right after the merger closes major brokerages will likely publish their forecasts for GNOG stock. The company will likely benefit as more states legalize online gambling. Landcadia Holdings II and Golden Nugget will merge soon, pushing the stock up. Landcadia Holdings II (NASDAQ:LCA) signed a merger agreement with Golden Nugget Online Gaming on June 29. Jun-15-20 08:52PM : Hedge Funds Never Been Less Bullish On Waitr Holdings Inc. (WTRH) Insider Monkey. All rights reserved. That is almost certainly a bullish catalyst for investors in LCA stock prior to the merger. Tilman J. Fertitta will continue to serve as the Company's CEO and Chairman of the Board. The stock gained nearly 100 percent last year. Only 34.80% of the stock of eGain is held by insiders. quotes delayed at least 15 minutes, all others at least 20 minutes. In my last article on LCA stock, I wrote a forecast that the company would be worth much more. But don’t give up hope just yet. It also implies that Landcadia believes LCA stock will shoot up after the merger. Pre-Market 0.62 (2.97%) GNOG | Complete Golden Nugget Online Gaming Inc. stock news by MarketWatch. Nevertheless, it probably doesn’t help LCA stock that DraftKings recently decided to sell more shares. It showed that there were some last-minute negotiations with the sponsor and Golden Nugget’s owner, Tilman J. Fertitta. Is Ford or GM a Better Bet for Investors Amid Increased EV Push. Austrian Gold Philharmonic: Minted at the historic Austrian Mint in Vienna, internationally famous for producing exceptional gold coins for more than 800 years, the Austrian Gold Philharmonic is one of the most beautiful modern gold bullion coins. Landcadia Holdings II, Inc. Completes Acquisition of Golden Nugget Online Gaming PR Newswire (US) - 12/29/2020 12:45:00 PM Current Report Filing (8-k) Edgar (US Regulatory) - 12/21/2020 9:18:35 AM Additional Proxy Soliciting Materials (definitive) (defa14a) Edgar (US Regulatory) - 12/21/2020 9:13:23 AM We see tremendous opportunity in the online gaming space and are excited to be a part of it.”. Source: Pixabay, Golden Nugget Online Casino Facebook. I suggested that based on its comparable value would be worth twice today’s price. Following the merger, Tilman Fertitta will continue to serve as GNOG’s chairman and CEO. Any distinction between the two is, at this point, just a legal technicality. With a Vaccine Available, Will the Show Go On at AMC? This is a good change. Golden Nugget stock is a buy based on the strong growth outlook. “This ceremony is a tribute to our incredible team, investors and partners who all made this day possible,” said Greg Carlin, CEO of RSI. High institutional ownership can be a signal of strong market trust in this company. On Sept. 22, the company made an interesting 8-K filing with the SEC. That is when the stock symbol changed to DKNG. At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Specifically, they have bought $0.00 in company stock and sold $289,425.00 in company stock. 2021 InvestorPlace Media, LLC. Analyst Mike Hickey says the positive view is based on … The Company's shares of Class A common stock will commence trading on Nasdaq Stock Market under the ticker symbol "GNOG" on December 30, 2020. That would occur only if he or his interests end up having less than a 30% economic stake in the company. The investor thinks that online gambling is still a hot sector. The new stock symbol was first traded Dec. 30, 2020. Markets don’t like to see this. An investor named RSI_MACD_MOMO_Investor on Stocktwits is bullish on GNOG stock. The company decided to take the SPAC IPO route to speed up it's listing on the public market. On Oct. 5, DraftKings provided guidance about its Q3 results that might have implications for Golden Nugget Online. Golden Nugget stock has become a major talking point on social media platforms. Fertitta will be the controlling shareholder of the merged company. Currently, Golden Nugget doesn’t pay dividends. That will strengthen its ongoing balance sheet. Why Waitr Holdings Stock Was Reaching New 2020 Highs Today. On Dec. 29, Lancadia Holdings II said that the company completed its reverse merger with Golden Nugget Online Gaming. For one, GNOG will receive $150 million in debt paydown and have at least $80 million in cash to work with. In a press release, Fertitta said, “I am pleased to see the business combination finally close. But Pounce on the Lucid Motors Merger, Top SPAC Merger News This Week: Lucid Motors, EVgo, Joby Aviation and 7 More Hot SPACs, 7 Dividend Aristocrats That Will Outlive Us All, 7 Growth Stocks in The S&P’s Hottest Sectors That Are Primed to Explode, How the Internet Sent GameStop Stock Up 1,000% — And Where It’s Going Next. The Company's shares of Class A common stock will commence trading on Nasdaq Stock Market under the ticker symbol "GNOG ... Golden Nugget … 50.42% of the stock of eGain is held by institutions. The merger deal was approved by a majority of Landcadia's shareholders on the same day. The company will likely benefit as more states legalize online gambling. The online gambling market will likely be worth $127.3 billion by 2027, according to Grand View Research. 1125 N. Charles St, Baltimore, MD 21201. Golden Nugget stock won many investors' hearts in 2020. LCA stock should do much better after its merger closes, especially since governance issues are now more secure. 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