But current owners of LCA stock or those waiting for it turn to GNOG shouldn’t be rushing to make comparisons with other blank check transactions. All rights reserved. Landcadia Holdings II (LCA) Surges 38% After SPAC Enters Deal to Acquire Golden Nugget Online Gaming Article Related Articles ( 1 ) Stock Quotes (1) FREE Breaking News Alerts from StreetInsider.com!
Landcadia Holdings (NASDAQ:LCA) signed a merger agreement with Golden Nugget Online Gaming on June 29. Official Close 10/30/2020 NAS. A SPAC merger is not a qualifying event that mandates such a blackout unless the company is raising PIPE-related (private investment in public equity) capital for the merger. For example, Golden Nugget Online might expect that it will experience an uplift in its stock price after the merger, just like DraftKings (NASDAQ:DKNG). This call feature allows the company to receive more capital when all the warrants are exercised by the end of the 30 days. Landcadia Holdings II Inc Registered Shs -A-, Registration on or use of this site constitutes acceptance of our, It’s Time to Place Your Bets On Landcadia Holdings, Don’t Ignore the Warning Flags of Landcadia Holdings II, 3 Upcoming IPOs That Will Arrive With A Thud, The Second Wave Is Taking Its Toll on DraftKings, 3 Gambling Stocks to Buy for the iGaming Megatrend, Her Majesty the Queen in Right of Alberta.
All rights reserved. Fighting for the same gamblers’ dollars in a single state isn’t a tangible long-term business model. Undoubtedly, that’s a feather in the cap of the company because, in the Garden State, the Golden Nugget lacks the brand cache of, say, Caesars Palace. On the date of publication, Todd Shriber is long DKNG. Also, keep in mind two things. He is well-known throughout the leisure and hospitality industry from ownership of Maestro’s Steakhouse and Golden Nugget casinos, among other entities. Landcadia Holdings II Inc is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Lutheran Church in America (LCA) had been created in 1962, by a merger among the United Lutheran Church in America (created in 1918 by an earlier merger of three German Lutheran synods in the eastern U.
For those not familiar with Landcadia, it’s a blank check company controlled by Houston Rockets owner Tilman Fertitta. The following company has records linked to the trading symbol, Preliminary revised proxy soliciting materials, Preliminary proxy statement relating to a merger or acquisition, Ownership Acquisition Statement [Amended]. The difference in valuation between LCA stock and DKNG stock is 72.2%. But once its reverse merger closed, the newly named stock essentially doubled from the period when it was announced. Golden Nugget Online. On Sept. 22, the company made an interesting 8-K filing with the SEC. Moreover, if my original calculation is correct, LCA — soon to be GNOG — may actually have a much lower ratio. Those factors pushed LCA stock higher to tune of 75.17% over the past 90 days. Nasdaq That operating income was up 74% year-over-year. Also, the company expects it will join the fast-growing Pennsylvania market early next year. The awards recognized and celebrated excellence in the North American online gaming and sports betting industry, rewarding leading operators and service providers for their performance in the past year. 7 Monthly Dividend Stocks to Buy Now for Safe Payouts, 7 Sin Stocks to Buy Now as America Reopens, 10 Buyout Stocks With Long-Term Potential, agreed to merge with an EV battery maker, QuantumScape, 7 Upcoming IPOs for the Second Half of 2020, Why Everyone Is Investing in 5G All WRONG, America’s #1 Stock Picker Reveals His Next 1,000% Winner, Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company, Radical New Battery Could Dismantle Oil Markets. Given the estimated 2021 revenue of $122 million, that is just 9 times revenue. The Golden Nugget relationship is relevant because Landcadia announced the acquisition of Golden Nugget Online Gaming in June. All rights reserved. Keep in mind that this leverage effect works on the downside as well. This is 6.1 times its expected 2021 revenue of $122 million. Shareholder percentage totals can add to more than 100% because some holders are included in the free float. Things should look much better for LCA stock (i.e., GNOG stock) after the merger. The famous, must-try sandwich in each state. Stock quotes by finanzen.net.