by LillyTheElf
TL;DR at the bottom for your short attention spans.
You heard of Draft Kings? Remember how much that stocked jumped up? $10 to $50 in 3 months, that’s a 400% increase. Did pretty well didn’t it. It’s been the only publicly traded online betting company on the stock market till this week.
Landcadia Holdings II LCAis merging with Golden Nugget Online Gaming to become $GNOG on Friday 12-18-20.
The upsides on this company are huge:
- Net Revenue of $25.9 million compared to $13.5 million during the same period in 2019, an increase of 92%
- Gross Gaming Revenues of $28.9 million, compared to $14.9 million during the same period in 2019, an increase of 93%,
- Operating Income of $8.2 million versus $4.2 in the third quarter of 2019, an increase of 92%.
The owner is Tilman Fertitta, billionaire businessman who owns the Golden Nugget casino and betting chain, the Houston Rockets and Landry’s Inc. which is the parent company that owns the franchise rights to Bubba Gump, Joe’s Crab Shack, Morton’s steak house, Rainforest Cafe among 40 other popular restaurants. He also owns a variety of other properties and business ventures.
“In 2018, his net worth was estimated at $4.5 billion, placing him at No. 153 on the Forbes 400 list of the wealthiest Americans;[1] Forbes calls him the “World’s Richest Restaurateur”.[6] ”
en.wikipedia.org/wiki/Tilman_Fertitta
en.wikipedia.org/wiki/Landry%27s,_Inc.#Properties_and_subsidiaries
The downs sides:
The only downsides I have found is that LCAwas created by Tilman, which some people find sketchy, but makes a lot of sense to me. He was looking to bring his company public and wanted extra investments to bring one of his most successful companies public.
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Online betting is an ever growing industry and in my opinion Golden Nugget is the only other online gambling company worth investing in besides Draft Kings.
The global online gambling market size was valued at USD 53.7 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2020 to 2027.
www.grandviewresearch.com/industry-analysis/online-gambling-market
Full Disclosure: I obviously have shares in this.
TL;DR
LCAis merging with Golden Nugget Online Betting on Friday, 12-18-20 into $GNOG. Last weeks shit fuckery dropped it down and I think it’ll drop a little more on Monday, making it a good time to get in on the only other publicly traded online betting company besides Draft Kings. It’s got 4 days to rally and I think it’ll pop hard on merger.
This is finally a SPAC with an actually valuable company behind it, a successful billionaire owner and a huge injection of money coming. I am willing to bet that this online betting company will start to moon starting on Friday’s merger vote or the following week after the ticker changes.
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence or consult your financial professional before making any investment decision.