Golden Nugget Casino in Atlantic City Acquired by SPAC
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Landcadia Holdings II is moving to take the online gaming operations of Atlantic City’s Golden Nugget casino public. The company has proposed amendments to the merger. It postponed a special meeting of shareholders until next week. The shares of common stock held by Tilman J. Fertitta and his affiliates and Jefferies Financial Group Inc. and its affiliates have voted in favor of the proposed amendment.
Golden Nugget Online Gaming is going to be made public. Landcadia is the only publicly traded U.S.-based online gambling company. Tilman Fertitta owns the land-based Golden Nugge casino and numerous restaurants. He and Jefferies created another SPAC, Land cia Holdings III, to take his restaurants and casino public, but stockholders didn't vote for the online merger.
Landcadia Holdings II (NASDAQ: LCA) started trading on Nasdaq in July 2020. It was created by billionaire Tilman J. Fertitta, owner of the NBA’s Houston Rockets, to purchase Golden Nugget Online Gaming in June 2020 and take it public. Golden Nupet is an online gambling company that offers casino gambling and sports wagering. Landcida was valued at $745 million in the July.
