Boom Entertainment partners with Golden Nugget Online Gaming
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Boom Entertainment has entered into a comprehensive partnership with Golden Nugget Online Gaming (GNOG), which will give the operator access to Boom's products and services, as well as market access via its rights in Ohio.
Boom has also agreed to build custom and exclusive games for GNOG.
"We are thrilled to enter this long-term relationship with Boom," said Thomas Winter, President of GNOG. "Boom's team has an impressive track record in the gaming industry, and we believe this partnership will help GNOG continue to differentiate itself in the market with a premier, unrivaled gaming product."
GNOG's partnership with Boom also includes a minority equity investment. According to the statement, Golden Nugget will gain access to Boom’s casino games and its remote gaming server. GNOG will also be able to use Boom's assets, such as innovative sports betting content and casino technology.
"We are excited to work with an incredible operator in Golden Nugget," said Stephen A. Murphy, CEO of Boom. "Boom's mission is to fuel the biggest winners in sports betting and casino gaming, whether they are operators, leagues, retail establishments, or media companies. We are excited to add our mark to Golden Nugget's award-winning product."
Golden Nugget Online Gaming reported revenue of $31.7m for Q2 2021, a 28% year-on-year increase. Net loss for the second quarter was $1.6m, compared to net income of $0.1m for the same period in 2020.
Net income for the first half of 2021 was $68.1m, while theorganisation most notably entered into a definitive agreement with DraftKings, which will see the latter acquire GNOG in an all-stock transaction.
The implied equity value of the deal is approximately $1.56bn should GNOG shareholders approve it.
