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Lancadia Holdings completes GNOG combination

| By Robin Harrison
Special purpose acquisition company (SPAC) Lancadia Holdings II has completed its combination with Golden Nugget Online Gaming, the igaming division of the land-based brand, with shares in the new business trading on the Nasdaq from December 30, 2020.

Lancadia’s shareholders approved the combination on December 29, allowing for the company’s shares to begin trading under the GNOG ticker a day later. 

Tilman J. Ferttita, co-founder of Lancadia and owner and chief executive of the Landry’s restaurant chain and entertainment business that owns Golden Nugget casinos, will serve as chief executive and chair of the new entity. 

Thomas Winter, who has overseen the igaming business since September 2013, will serve as its president, with all current GNOG staff to continue in their existing roles. 

“I am pleased to see the business combination finally close,” Fertitta said. “We see tremendous opportunity in the online gaming space and are excited to be a part of it.”

The combination of the businesses was announced in June 2020, valuing the enlarged entity at approximately $745m.

Read the full story on iGB North America.

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