The stock has a 52-week high of $15.72 and a 52-week low of $8.82. The transaction is expected to close in the third quarter of this year.Landcadia Holdings II shares were trading up 32.74% to $13.38 at the time of publication Monday. He owns Golden Nugget Atlantic City, too.
LCA stock made a big move the Golden Nugget Online deal was announced, and MarketSmith analysis shows it is now well clear of its 50-day moving average. The stock's name will then change to Golden Nugget Online Gaming, with the ticker symbol GNOG.Get market updates, educational videos, webinars, and stock analysis.© 2000-2020 Investor's Business Daily, Inc. All rights reservedTilman Fertitta owns Golden Nugget Online, and will continue to serve as CEO. While Golden Nugget customers will be able to wager on most NBA games, but not on Rockets games.Ownership data provided by Refinitiv and Estimates data provided by FactSet.Landcadia was co-sponsored by the tycoon's holding company Fertitta Entertainment and Jefferies. Authors may own the stocks they discuss. LCA is the publicly traded special purpose acquisition co-sponsored by Fertitta Entertainment Inc. and Jefferies Financial Group Inc. The information and content are subject to change without notice.Learn how you can make more money with IBD's investing tools, top-performing stock lists, and educational content.The deal is seen closing in the third quarter. LANDCADIA HOLDI/SH CL A (NASDAQ: LCA) announced Monday that it is acquiring Golden Nugget Online Gaming, Inc. in a move to take Golden Nuggett’s online gaming business public. The valuation of Golden Nugget at time of the purchase was $745M. Lancadia Holdings currently has a market cap of $518 million.Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities.
The transaction, or spin-off of Golden Nugget’s online division, is expected to be completed in the third quarter of 2020. Landcadia Holdings II (LCA) Surges 38% After SPAC Enters Deal to Acquire Golden Nugget Online Gaming June 29, 2020 9:39 AM EDT Tweet
Landcadia Holdings II (NASDAQ: LCA) shares were trading higher Monday after the company acquired Golden Nugget Online Gaming. Upon closing, Landcadia II will change its name to Golden Nugget Online Gaming, Inc. and its Nasdaq trading symbol to "GNOG."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."GNOG is one of the best positioned companies to capitalize on this massive online gaming opportunity in the US," said Rich Handler, Co-Chairman of Landcadia II and CEO of Jefferies LLC.Golden Nugget Online Gaming will become only the second pure publicly traded online casino company in the U.S.
Fertitta is also CEO of Landry's, and also owns the Houston Rockets.
DraftKings became listed via a three-way merger with publicly listed special-purpose acquisition company Diamond Eagle Acquisition and sports betting technology firm SBTech.The valuation of Golden Nugget at the time of the deal was $745 million. LCA stock surged higher on June 29, 2020, after the company announced that it was acquiring Golden Nugget Online Gaming.
The stock has an IBD Composite Rating of 51.