HOUSTON, November 19, 2020 / PRNewswire / – Golden Nugget Online Gaming, Inc. (“GNOG”) today announced that it has entered into a definitive agreement with Danville Development, LLC (“Danville Development”) for market access to Illinois State for online sports betting and I-gaming (when legalized). Under the agreement, Golden Nugget, LLC (“Golden Nugget”) will enter into a joint venture agreement with Wilmot Gaming Illinois, LLC (“Wilmot”) to build a new casino in Danville, Illinois, pending receipt of all regulatory approvals. The casino, once opened, will carry the Golden Nugget branding and house a Landry’s steakhouse. Danville Development is a joint venture between Wilmot and GN Danville, LLC, a wholly owned subsidiary of Golden Nugget.
Under the Definitive Agreement, GNOG holds the exclusive right to offer online sports betting and, if the law permits in the future, online casino betting. In addition, GNOG has committed to provide a mezzanine loan in the amount of $ 30 million to Danville Development for the layout and construction of the casino. GNOG’s Market Access Agreement is for 20 years and requires GNOG to pay Danville Development a percentage of its net online gaming revenue, subject to minimum royalty payments over the term.
“Wilmot is pleased to deliver Golden Nugget and GNOG to City of Danville and is delighted to partner with Tilman J. Fertitta. The Golden Nugget is a nationally recognized brand and strengthens submission, provides additional opportunities, and improves the overall project. The Wilmot family would also like to personally thank the efforts and support of the city council and the mayor of Danville, Illinois; without their diligence and attention to detail, this project would not be possible, ”said James A. Wilmot, vice-president of Wilmot.
“This is Golden Nugget’s first joint venture on a casino project, and we are honored to be the one selected among many bidders for this opportunity by the Wilmot family after a very competitive process. Have the ability to develop the Golden Nugget brand in Illinois in the online and land markets is an exciting opportunity, ”said Tilman J. Fertitta, owner and CEO of Golden Nugget and GNOG.
Thomas Winter, added the GNOG President, “We are delighted to have access to the Illinois, the 5e Most populous and largest US state to regulate mobile betting to date. This is a tremendous opportunity for us to further expand our presence in the United States and realize our ambitious growth plans. We look forward to bringing our award-winning online offerings to the prairie state. “
About GNOG
Golden Nugget Online Gaming, Inc. is a leading online gaming company wholly owned by Tilman J. Fertitta. It is considered a market leader by its peers and was the first to offer Live Dealer and Live Casino Floor at United States online gaming market. GNOG received 15 eGaming Review North America Awards, including the coveted “Operator of the Year” in 2017, 2018, 2019 and 2020.
About the gold nugget
Golden Nugget, LLC, indirectly 100% owned by Tilman J. Fertitta, through subsidiaries and affiliates, currently operates five Golden Nugget hotels and casinos located in Las Vegas and Laughlin, Nevada; Atlantic City, New Jersey; Biloxi, Mississippi; and Lake Charles, Louisiana. Golden Nugget’s subsidiary, Landry’s, LLC, is a diversified national food, hospitality and entertainment company engaged in the ownership and operation of upscale and casual restaurants, as well as other businesses specializing in the hospitality and entertainment.
About Wilmot
Wilmot Gaming Illinois, LLC, is a privately held subsidiary of Wilmorite, one of the leading family-owned commercial and casino real estate development and management companies. The casino development portfolio includes First Council Casino, Oklahoma, Harrah’s Northern California, and Del Lago Casino, NY.
About Landcadia Holdings II, Inc.
Landcadia Holdings II, Inc. (“Landcadia II”) is a company incorporated for the purpose of effecting a merger, stock exchange, acquisition of assets, purchase of shares, reorganization or business combination similar with one or more companies co-sponsored by Fertitta Entertainment, Inc. and Jefferies Financial Group Inc.
Important information about the proposed transaction and where to find it
Landcadia II has filed a preliminary proxy statement and intends to file a definitive proxy statement with the SEC for the Landcadia II shareholder meeting to be held in connection with the previously announced business combination with GNOG. Landcadia II shareholders and other interested persons are encouraged to read the Preliminary Proxy Circular and its amendments, when available, as well as the final Proxy Circular and the documents incorporated by reference therein filed therein. in connection with the proposed transaction, as these documents will contain important information about GNOG, Landcadia II and the proposed transaction. The definitive proxy circular and other documents relevant to the shareholders’ meeting will be mailed to the shareholders of Landcadia II from the date of registration of the meeting whose registration date is 29 october, 2020. Shareholders will also be able to obtain copies of the Preliminary Proxy Circular, the Final Proxy Circular, when available, and other documents filed with the SEC which will be incorporated by reference therein. , free of charge, once available, on the SEC website. site at www.sec.gov, or by directing a request to: Landcadia Holdings II, Inc., 1510 West Loop South, Houston, Texas 77027, Attn .: General Counsel, (713) 850-1010.
Participants in the call for tenders
Landcadia II and its directors and officers may be considered participants in the solicitation of proxies from the shareholders of Landcadia II with respect to the proposed transaction. A list of the names of such directors and officers and a description of their interests in Landcadia II is contained in Landcadia II’s preliminary proxy statement, which has been filed with the SEC and is available free of charge on the SEC’s website at at www.sec .gov, or by requesting Landcadia Holdings II, Inc., 1510 West Loop South, Houston, Texas 77027, Attn .: General Counsel, (713) 850-1010. Additional information regarding the interests of such participants will be contained in the definitive proxy statement for the proposed transaction when it becomes available.
GNOG and its directors and officers may also be considered participants in the solicitation of proxies from the shareholders of Landcadia II in connection with the proposed transaction. A list of the names of such directors and officers and information regarding their interests in the proposed transaction will be included in the definitive proxy circular for the proposed transaction when it becomes available.
Forward-looking statements
This press release includes “forward-looking statements” within the meaning of the “safety regulations” provisions of the Private Securities Litigation Reform Act of 1995. The actual results of Landcadia II and GNOG may differ from their expectations, estimates and projections and, therefore, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect”, “estimate”, “project”, “budget”, “plan”, “anticipate”, “intend to”, “plan”, “power”, “power”, “Could”, “should,” “believes”, “predicted”, “potential”, “continuing” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, GNOG’s expectations regarding the future performance and anticipated financial impacts of the proposed transaction, the satisfaction of the closing conditions of the proposed transaction and the timing of the completion of the proposed transaction. These forward-looking statements involve significant risks and uncertainties which could cause actual results to differ materially from expected results. Most of these factors are beyond the control of Landcadia II and GNOG and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change or other circumstance that could result in termination of the Purchase Agreement for the proposed transaction (the “Purchase Agreement” ), (2) the outcome of any legal proceedings that may be brought against Landcadia II and GNOG following the announcement of the Purchase Agreement and the transactions contemplated therein; (3) failure to complete the proposed transaction, including failure to obtain Landcadia II shareholder approval, certain regulatory approvals, or to meet other closing conditions in the contract purchase; (4) the occurrence of any event, change or other circumstance which could result in the termination of the purchase contract or could otherwise prevent the closing of the transaction; (5) the impact of COVID-19 on GNOG’s business and / or the ability of the parties to complete the proposed transaction; (6) the inability to obtain or maintain the listing of the common shares of Landcadia II on the Nasdaq as a result of the proposed transaction; (7) the risk that the proposed transaction will disrupt current plans and operations following the announcement and completion of the proposed transaction; (8) the ability to recognize the anticipated benefits of the proposed transaction, which may be affected by, among other things, competition, GNOG’s ability to grow and manage its growth profitably and to retain key employees; (9) costs associated with the proposed transaction; (10) changes in applicable laws or regulations; (11) the possibility that GNOG or Landcadia II will be adversely affected by other economic, business and / or competitive factors; and (12) other risks and uncertainties indicated from time to time in the Proxy Circular relating to the proposed transaction, including those referred to under “Risk Factors” and in other documents filed by Landcadia II with the DRY. The foregoing list of factors is not exclusive. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are posted. Neither GNOG nor Landcadia II undertake or accept any obligation or commitment to publicly issue any updates or revisions to forward-looking statements to reflect any change in their expectations or any change in the events, conditions or circumstances on which a such statement is based.
No offer or solicitation
This press release does not constitute a solicitation of any proxy, consent or authorization with respect to any security or with respect to the proposed transaction. This press release also does not constitute an offer to sell or the solicitation of an offer to buy any securities, and there will be no sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws of such jurisdiction. No offer of securities will be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
SOURCE Golden Nugget Online Gaming, Inc.
