It has been announced today that Danville Development has agreed a deal with Golden Nugget Online Gaming for gambling market access in Illinois.
The deal, which includes sports betting and iGaming following legalisation, is also part of a joint venture with Wilmot Gaming Illinois to develop a new casino in Danville, Illinois, subject to regulatory approval and will be branded Golden Nugget Casino.
Danville Development is a joint venture between Wilmot and GN Danville – a wholly owned subsidiary of Golden Nugget.
Vice President of Wilmot, James A Wilmot commented on the deal:
“Wilmot is pleased to deliver Golden Nugget and GNOG to the City of Danville and is excited to partner with Tilman J. Fertitta.
The Golden Nugget is a nationally recognized brand and strengthens the submission, provides additional opportunities, and upgrades the overall project.
The Wilmot family would also like to personally acknowledge the efforts and support of the City Council and Mayor of Danville, IL; without their diligence and attention to detail this project would not be possible”
According to reports, Golden Nugget Online Gaming will hold the exclusive rights to online sports betting in the region and will introduce online casino gaming if and when it is legalised.
What’s more, the online and offline gambling corporation will be providing Daville Development with a £30 million combined finance package for the firm to build its new casino venue in the area.
Owner and CEO of Golden Nugget and Golden Nugget Online Gaming Tilman J Fertitta also said:
“This is Golden Nugget’s first joint venture on a casino project, and we are honored to be the one selected amongst numerous bidders for this opportunity by the Wilmot family after a highly competitive process.
Having the ability to grow the Golden Nugget brand in Illinois in both the online and land based markets is an exciting opportunity.”
This latest agreement between the companies, which spans some twenty years, will see Golden Nugget Online Gaming hand over a cut of its gaming revenue to Danville Development, subject to minimum royalty payments.
In addition, the City Council and Mayor of Danville have played an important role in making the agreement possible with their diligence and attention to detail, that are reportedly acknowledged for the project that will bring about opportunities and upgrades.
Furthermore, this is the first time that Golden Nugget has worked with other corporations in a joint venture casino project and provides an exciting opportunity to grow the gaming brand in both offline and online markets.
President of Golden Nugget Online Gaming Thomas Winter concluded today’s comments on the agreement:
“We are thrilled to gain market access in Illinois, the 5th most populous US state and the largest to have regulated mobile wagering to date.
This is a tremendous opportunity for us to further increase our US footprint and deliver on our ambitious growth plans.
We look forward to bringing our award-winning online offerings to the Prairie State.”