DraftKings to Acquire Golden Nugget Online for $1.56 Billion (2)

DraftKings Inc. agreed to buy Golden Nugget Online Gaming Inc. in a deal valued at about $1.56 billion, expanding the fantasy-sports giant’s presence in the hot market for online betting.

DraftKings expects use the combined resources to boost sales and market share, yielding $300 million in savings from overlapping costs and creating new cross-selling opportunities, the companies said Monday in a statement. The deal, which has been approved by both companies’ boards, is expected to close in the first quarter of 2022.

WATCH: DraftKings Inc. will acquire Golden Nugget Online Gaming Inc. in a deal valued at about $1.56 billion.

Source: Bloomberg

The merger gives DraftKings more casino-type betting customers, in addition to expanding its market share in ...