A Haynes and Boone, LLP deal team represented Landry’s in a purchase agreement with Landcadia Holdings II that, upon closing, will result in the sale of Golden Nugget Online Gaming (GNOG) to Landcadia, with GNOG becoming only the second pure publicly traded online casino company in the U.S.
GNOG is an online real money casino owned by Tilman Fertitta that brought Live Dealer to the U.S. marketplace. Landcadia is a publicly traded special purpose acquisition company co-sponsored by Fertitta Entertainment, Inc. and Jefferies Financial Group Inc. Upon closing, Landcadia intends to change its name to Golden Nugget Online Gaming, Inc. and its Nasdaq trading symbol to GNOG.
The transaction is expected to close in the third quarter of this year. At closing, GNOG will have an anticipated pro forma enterprise value of approximately $745 million.
Haynes and Boone Corporate Partner Jennifer Wisinski, chair of the firm’s Business Transactions Department, led the team that represented Landry’s in the matter. She was assisted by Partners Paul Amiel, Sam Lichtman, Ken Bezozo, and Vicki Odette and by Associates Brent Beckert, Cameron Scales, Bryan Diebels, Don Shiman, Nick Rice, Christine Dryden, Chris Albert, Laura Shapiro, Mitchell Heyland and Colin Cox. The deal team also included: Partners Karen Denney, Gavin George, Susan Wetzel, and David Taubenfeld and Associate Scott Thompson.
Haynes and Boone’s M&A Practice Group has comprehensive experience handling middle-market deals, having helped clients close more than 500 transactions in the last five years, with an aggregate value exceeding $40 billion. The firm routinely represents private equity firms, closely held corporations, founders, large financial institutions and Fortune 500 public companies. The M&A team prides itself on crafting strategic solutions that advance clients’ business objectives by anticipating and evaluating the roadblocks and opportunities that clients face on the way to closing a deal successfully.
Haynes and Boone is an international corporate law firm with offices in Texas, New York, California, Charlotte, Chicago, Denver, Washington, D.C., London, Mexico City and Shanghai, providing a full spectrum of legal services in energy, technology, financial services and private equity. With more than 575 lawyers, Haynes and Boone is ranked among the largest U.S.-based firms by The National Law Journal, The American Lawyer and The Lawyer. It also was recognized across the board for excellence in the BTI Consulting Group’s 2020 “A-Team” report, which identifies the law firms that in-house counsel commend for providing superior client service.
