Landcadia II looks to complete GNOG deal on Dec 18
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Nasdaq-listed special purpose acquisition company Landcadia Holdings II has called a special meeting on December 18 for shareholders to approve its acquisition of Golden Nugget Online Gaming (GNOG).
In lieu of its 2020 annual meeting of stockholders, the company has scheduled the special meeting to approve the proposed business combination with GNOG.
While the merger is subject to customary closing conditions, it is expected to be finalized “as soon as practicable” should shareholders back the deal at the special meeting.
This will see GNOG spun off from the core Landry’s casino and hospitality business, and trade on the Nasdaq as a separate, listed entity.
The acquisition took a step towards completion last week, after GNOG was granted an online casino license by the New Jersey Casino Control Commission, meaning it is licensed as a separate entity to the land-based Golden Nugget casino business.