The Golden Nugget (GNOG) has settled an agreement with Danville Development which will facilitate such access to the online sports betting sphere
The American online gaming giant Golden Nugget (GNOG) is set to penetrate the online sports betting and online gaming platform in Illinois.
Such a partnership will now see GNOG join forces with Wilmot Gaming Illinois in order to establish a new casino with the city of Danville. Such a project will be determined whether regulatory license is achieved, permitting the operator to claim exclusive rights in providing sports betting verticals which includes online casino wagering in the state once allowed by law.
The newly built casino will form part of the Golden Nugget brand and will include various attractions such as a Landry’s restaurant steakhouse. Danville Development is a joint venture between Wilmot Gaming and GN Danville, which is a wholly owned subsidiary of Golden Nugget.
This agreement will grant GNOG 20 year market access. GNOG will also contribute a $30m mezzanine loan to Danville Development to construct the casino. Furthermore, this business partnership will also see GNOG pay a certain percentage to the developer according to its online gaming revenue.
Owner of the Golden Nugget and GNOG CEO and owner Tilman Fertitta (pictured) outlined that such a project sees the first ever casino joint venture for the Golden Nugget brand.
He stated that they are extremely honored to be selected from a pool of numerous bidders to spearhead this project. This is seen as a great opportunity granted to them by the Wilmot family.
Thomas Winter, president of GNOG further added that “This is a tremendous opportunity for us to further increase our US footprint and deliver on our ambitious growth plans. We look forward to bringing our award-winning online offerings to the Prairie State."
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