I’ve already mentioned that GNOG stock touched $26 at one point. And with that, Fertitta’s vision was fulfilled and GNOG stock started trading on the Nasdaq Exchange. Finally, SuccessĪt long last, the reverse merger was finalized on Dec. Still, it was encouraging that more than 99% of shareholders had voted in favor of the merger. 18 for LCA shareholders to finally vote on the big merger.ĭuring that meeting, it was announced that the vote would be delayed further until Dec. Nearly half a year after the Golden Nugget deal was originally announced, a virtual meeting was scheduled on Dec. It took quite a while for the SPAC deal to be completed. The other one is DraftKings (NASDAQ: DKNG), which has become a very popular online gambling stock. One of them is Penn National (NASDAQ: PENN), which has a stake in the Barstool Sportsbook app. In actuality, that even took place in late June.Īt that time, the press release boasted that “GNOG will become only the second pure publicly traded online casino company in the US.” To be perfectly honest, though, Golden Nugget has two prominent competitors in the market. Today, it seems so long ago that Landcadia Holdings II announced it would acquire Golden Nugget. Therefore, prospective investors have an opportunity to own the shares below the peak price.

15, and we can see that GNOG stock settled lower at $20.76. Yet, I can say that LCA/GNOG soon rocketed higher, reaching a 52-week high of $26 on Dec. I won’t claim that I caught the exact bottom of the price move. Since people didn’t know which company would be Landcadia’s acquisition target, there’s wasn’t any reason for the share price to move much.īy the time I issued my bullish call on LCA stock, the share price had already popped above $18 and then dropped to $14.40. Prior to that, LCA stock had stayed near the $10 level as the investing community awaited more information. Back then, it was in the pre-finalization SPAC phase and was trading as Landcadia Holdings II (LCA) stock. Not to brag or anything, but I made a bullish recommendation on GNOG stock on Oct.

Yet, that begs the question of whether GNOG is worth investors’ attention and capital. He’s worth around $4.2 billion, and evidently he knows a thing or two about bringing value-added businesses to the market.Īnd after much waiting and anticipation, Fertitta was finally able to bring GNOG stock to the public via a special purpose acquisition (SPAC) deal. He’s the owner of Golden Nugget Online Gaming.įertitta is also famous as the owner of the Houston Rockets basketball team. Much of the buzz surrounding GNOG stock is due to the irrepressible character of Tilman Fertitta.

Golden nugget online casino stock