It has been announced that asset acquisition corporation Landcadia Holdings II has been given regulatory approval in The Garden State from the New Jersey Casino Control Commission for the acquisition of Golden Nugget Online Gaming.
Strong efforts from the Casino Control Commission and the New Jersey Division of Gaming Enforcement have made obtaining regulatory approval possible with both organisations playing a part in ensuring the transaction has been approved.
One Step Closer
Steven L Scheinthal Landcadia II’s General Counsel shared comments on the acquisition:
“With this regulatory approval, we are one step closer to completing our acquisition of GNOG.
We are now waiting on the SEC to approve our definitive proxy statement for mailing to our stockholders and approval from our stockholders of the transaction, which we hope will happen in the near future.”
Following the approval, Landcadia Holdings II are now ‘one step closer’ to acquiring Golden Nugget Online Gaming, also known as GNOG.
GNOG is a leading online gaming company that is owned by a firm wholly owned by Tilman J Fertitta.
First Live Dealer Operator
According to reports, the company is now just awaiting approval from the US Securities and Exchange Commission of the definitive proxy statement, which will be sent to stockholders.
The concluding stage then would be for the Landcadia Holdings II stockholders to approve the acquisition transaction, which is anticipated to happen in the near future.
Co-Chairman and CEO of Landcadia II Tilman J Fertitta commented on the news:
“We are appreciative of the efforts of both the New Jersey Division of Gaming Enforcement and the Casino Control Commission in approving our transaction.”