As a result of the deal, EveryMatrix will provide Golden Nugget Online Gaming with content from its in-house game development studio Armadillo Studios, via direct integration with its SlotMatrix iGaming aggregation solution.

Erik Nyman, President EveryMatrix Americas, said: “We’re delighted to work with such an established brand as Golden Nugget Online Gaming. We look forward to our continued work together in the future as we provide premier content alongside our leading aggregation services.”

It means that EveryMatrix has licences in six North American states and provinces including New Jersey, Michigan, West Virginia, Connecticut, Ontario in Canada and most recently Pennsylvania.

Continuing the expansion of its US footprint, earlier this month EveryMatrix went live with its first aggregation agreement with exclusive partner studio Supremeland through a collaboration with DraftKings in New Jersey.At the time of that expansion, Nyman emphasised that delivering US productivity is “at the core of the EveryMatrix product strategy”.

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The group, which completed a deal to become a significant stakeholder in the Dallas Mavericks last year, is set to submit a petition in the region for the legalisation of online casino gaming. 

Las Vegas Sands, alongside a myriad of some of the industry’s other key players, has long been advocating for the expansion of casino regulations in the state, with this latest move following up the formation of the Texas Sands Political Action Committee, a lucrative effort that sought to grow the chances of a gambling framework in the region. 

Tilman Fertitta, who owns Golden Nugget, has also been vocal in backing the bid for Texas to embrace the casino sector and the benefits it can bring. 

In a recent comment to Bloomberg, Fertitta stated that the casino sector can have a profound impact on bringing tourism to the region – specifically with the venues that will be built as a result of any new sector entering the space. 

The Golden Nugget owner stated: “We need to do it right and build the casinos, and not have a bunch of slot machines at every single little grocery store.”

Momentum around the potential for a bill to legislate casinos in Texas has built momentum – bolstered by the backing of the Abelson family after their acquisition of the Mavericks. 

When Mark Cuban initially purchased the Mavericks in 2000 he did so for around $285m, the Abelson’s acquisition at the end of last year underlined the significant rise in valuation of the sports team, with the family reportedly set to pay around $3.5bn for the franchise. 

The push for legislation from the Abelson family is also elevated by surrounding markets benefiting from a burgeoning casino industry.

Nonetheless, as much as support has grown for the bill, limited backing from governmental officials in Texas. 

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Through the partnership, Golden Nugget players in the Wolverine State can now play the supplier’s titles, such as Cai Fu Emperor Ways and Egyptian Magic from Bragg’s Atomic Slot Lab, as well as Devil’s Lock from Bluberi.

The games will be provided by Bragg’s RGS technology, which includes the company’s Fuze promotional tools such as free rounds, tournaments and quests to bolster player engagement.

“We continue to strengthen our relationships with key igaming operators in North America, and the expansion with Golden Nugget in Michigan is a testament to our successful strategy,” commented Kunal Mishra, Chief Operating Officer – Americas at Bragg Gaming.

“By offering our high-quality, engaging content, we aim to contribute to the long-term growth of our partners and provide an exceptional gaming experience for players.

“This achievement builds on Bragg’s existing collaboration with Golden Nugget, aligning with the company’s vision to deliver cutting-edge gaming solutions to players in the rapidly growing US igaming market.”

Last month, Bragg secured a deal with Digitain, supplying its igaming content to the provider’s Centrivo platforms and aggregation service.

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Lauded as the “newest and largest full-service casino in the market” as well as the self proclaimed “highest casino in the world,” the acquisition becomes the latest land-based addition for the group.

Wildwood joins a stable of venues that includes Golden Nugget establishments across Las Vegas and Laughlin, Nevada; Atlantic City, New Jersey; Lake Charles, Louisiana and Biloxi, Mississippi.

The transaction includes a casino that features more than 530 slots, 12 table games, a 101-room hotel that opened in July 2021, the 67-room Gold King Mountain Inn and Gas N’ Roll gas station and convenience store.

Earlier this year, the property confirmed that BetWildwood would stop taking wagers on the existing app and would shut down on Thursday, June 30, 2022. A holding page for the site promises that “exciting changes” are coming.

In April, a filing with the US Securities and Exchange Commission read: “On November 2, 2021, we entered into an agreement to acquire Wildwood Hotel and Casino in Cripple Creek, Colorado for approximately $43m”.

The transaction was facilitated by Innovation Capital in a deal that saw the group complete its 11th casino gaming transaction in Colorado. In total, the company has finalised over 110 transactions that have aggregation in excess of $11bn.

Joseph Canfora, Managing Partner and CEO of American Gaming Group, which owned the property, states: “Innovation Capital’s advice on the sale process resulted in a value creating transaction for AGG’s shareholders.

“We have worked with Innovation on numerous transactions over the years and we value our relations with them and their client first approach to business”.

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The implementation of the permanent retail spot will offer a premier sports betting experience across more than 12,000 square feet, comprising over 3,200 square feet of LED TV screens, approximately 300 lounge seats, including VIP areas, five ticket cages, 16 video poker machines, three blackjack tables and 30 self-service kiosks. 

Gerry Del Prete, Chief Operating Officer of Gaming at Fertitta Entertainment, explained: “Just in time for football season, we look forward to offering our guests the excitement of live games in an immersive audio-visual experience.

“We believe this DraftKings Sportsbook will raise the standards in sports betting and offer an unparalleled entertainment experience.”

Set to open on September 1, the DraftKings Sportsbook will also offer a full-service restaurant named the DraftKings Sportsbook Bar & Grill.

“We are thrilled to be opening our permanent retail DraftKings Sportsbook inside the Golden Nugget Lake Charles,” added Michael Kibort, Senior Director of Retail Sportsbooks at DraftKings. “The massive space, big screen TV’s, odds boards and dining options will bring the DraftKings brand to life in an ideal setting to experience live sports.”

The regular hours of operation for the DraftKings Sportsbook at Golden Nugget Lake Charles will be Monday – Friday from 10am – 11pm and Saturday’s and Sunday’s from 9am – midnight. Customers will be able to place bets at any time on kiosks located throughout the casino floor.

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The former, which is the parent company of Golden Nugget and Landry’s, had previously voiced an expectation of using the proceeds from the transaction to accelerate its growth initiatives, general corporate purposes and reduce existing debt. 

The two parties have simultaneously terminated the deal after a settlement was reached regarding the disagreement over the termination date.

Tilman Fertitta, owner of Fertitta Entertainment, commented: “I have a lot of respect for the Fast team and will support them however I can as they continue to search for a merger target. 

“At the end of the day we ultimately determined that the right decision for my company was to remain private at this time, and I look forward to continuing to grow our business both organically and in-organically.”

The settlement ensures that Fast Acquisition, a special purpose acquisition company that is co-headed by Doug Jacob and Sandy Beall, gains $33m through a combination of upfront and deferred payments, part of which is contingent on whether the group ultimately effectuates a business combination transaction.

This includes a payment to the SPAC that it is said will be used to cover expenses associated with the terminated transaction, as well as a replenishment of its working capital account. Fast asserts that it intends to continue to seek a business combination with another operating company.

“FEI is an incredible hospitality empire run by the one of the world’s best operators that we have had a first-hand view into for many years now,” Jacob added. 

“We wish Tilman and his team the best of luck as they remain a private company. Through this settlement we ensured that we are sufficiently capitalised to seek a new target and that we could continue our efforts to maximise value for our shareholders.”

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The quintet, of Flushing, College Point, and Brooklyn, are accused of presenting fraudulent bank cheques in exchange for an equivalent amount of gaming chips between August 26-28.

This saw Caesars, Borgata, and Ocean Casino Resort lose 284,000 each, with Hard Rock and Golden Nugget honouring cheques to the value of £134,000 per property.

“The defendants were caught executing a sophisticated financial scheme spanning multiple casinos and over a million dollars in fraudulent checks,” said Bruck. 

“This case is just one example of the excellent work—in this instance across international borders—performed by the members of the New Jersey State Police and Division of Criminal Justice who are assigned to investigate and prosecute crimes in the casinos.”

At each of the aforementioned Atlantic City casinos, the suspects allegedly presented a pair of fake cheques, one with a value of $150,000 from TD Bank and the other with from the Bank of America for $134,000.

However, on two instances chips were unable to be obtained after Hard Rock denied the $150,000 cheque, and Golden Nugget said amounts could only be honoured on an incremental basis.

On September 7, 2021, one of the suspects, Qingtao Zhang, 53, was detained in Amsterdam, Netherlands, on a warrant obtained in this investigation. 

The other defendants, Xiuhuan Zhang, 65; Shuai Liu, 30, Peng Cai, 33, and Sen Ge, 29, are being sought on arrest warrants.

“This investigation highlights the determination and networking our New Jersey State Police detectives and law enforcement partners share when it comes to tracking down and arresting criminals, no matter how far they attempt to flee,” noted Colonel Patrick  Callahan, superintendent of the New Jersey State Police. 

“The arrest of Qingtao Zhang in the Netherlands illustrates the premier working relationship the New Jersey State Police has around the world and our willingness to ensure distance will never become an obstacle when it comes to justice. This was great work by all involved.”

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After surpassing $100m in revenue to kick start the year, and becoming the first legal gaming jurisdiction in US history to cross that threshold in a single month, the Garden States online casinos and poker room generated $93.8m in the previous month.

Though falling short of the record $103.8m recorded in the opening month of the year, the figure is up 80.4 per cent from 2020’s $52m. This works out to a record $3.4m per day over 28 days in February, representing an increase from $3.3m per day over 31 days in January.

Golden Nugget, which now includes FanDuel casino, remained the igaming market leader with $27.9m in revenue, a 41.1 per cent rise from the previous year’s $19.7m but a drop from January’s $31.1m.

Borgata remains hot in its heels with $25.7m, a significant jump from 2020’s $8.13m but down from $28.7m to open the year, with Resorts Digital again occupying the third sport with a 54.8 per cent year-on-year rise from $12.4m to $19.7m (January 2021: $22.8m).

In the land-based stakes, Borgata, Hard Rock and Ocean Casino once again occupy the top three spots, securing February revenue of $36.9m (2020: $57.5m), $23.5m (2020: £23.9m), and $18.8m (2020: $20.7m), respectively.

“After so many years of Golden Nugget dominance, it’s been fascinating to watch Borgata and Resorts Digital make gains over the last year,” stated Eric Ramsey, analyst for PlayNJ.com. 

“FanDuel adds another big name as these operators jockey for market share, and it has the ability to shift the dynamic. But the online casino pie continues to grow, which is ultimately great for the state.”

New Jersey sportsbook took in $743m in bets during the month, anchored by $117.4m in Super Bowl betting, to record its lowest total since August as the market settled into the post-NFL period.

That is up 50.1 per cent from $494.8 million in February 2020, however, it falls short of January’s $958.7m. Operators produced $46.2m in revenue from the month’s wagers, up from $17m in 2020 and yielded $5.7m in state taxes.

“Even with a slowdown in February, which was expected, New Jersey remains the most fertile online sports betting and online gaming market in the US,” stated Dustin Gouker lead analyst for PlayNJ.com. 

“February’s results are a reminder, though, that New Jersey’s market is not destined for infinite growth. For the first time since Pennsylvania launched, New Jersey could face increased competition. 

“This time it’s from New York, its main feeder market, which is pushing ahead on legalisation efforts. While that is cause for concern in New Jersey, the state’s online sportsbooks and casinos have positioned themselves as a giant in the industry, able to withstand neighbourly competition.”

Online betting produced 92.8 per cent, or $689.2m, of the state’s total handle, with FanDuel Sportsbook/PointsBet topping the market with $24.9m in gross revenue, down from $41.8m in January.

Retail sportsbooks collected $53.7m in bets, but that was still short of the $58.3m retailers collected in February 2020. Meadowlands/FanDuel led the way with $2.3m in revenue.

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Total Revenue for the year is expected to be confirmed as between $90m and $91m, compared to $55.4m in 2019, representing an increase of 63 per cent.

Gross Gaming Revenue for the 12-month period are set to be $101m to $102m, a 67 per cent rise on the $60.9m posted in 2019.

Operating Income is forecast to be $23m to $24m, up 39 per cent on the year prior, in which GNOG had recorded $17.6m.

These positive preliminary results have been boosted further by early performance in Michigan, in which GNOG began operations on January 22, 2021, in partnership with the Ojibwa casino.

Thomas Winter, President of GNOG said: “We are thrilled to be live in Michigan and are optimistic on the revenue opportunity. We have just launched our marketing campaign and are already recording close to $2m dollars in daily casino wagers.

“Michigan is embracing online gaming at a rapid pace and we anticipate that our business in the Great Lakes State will exceed our earlier expectations”.

In a statement, Tilman J Fertitta, Chairman and CEO of GNOG, said: “We are very pleased with yet another year of rapid and profitable growth. 2020 was a transformational year for Golden Nugget Online, which went public, reached $100m in GGR and signed market access agreements in multiple states.

“We look forward to replicating our New Jersey success in many other states and taking advantage of the strong growth of online gaming in the US.”

Additionally, GNOG confirmed that Kevin Vonasek had been appointed to the role of Vice President of Corporate Development. Vonasek, formerly Chief Product Officer Americas at NYX Gaming Group and VP of Business Development Americas at SG Digital, will focus on expanding activities into new states.

Vonasek (pictured) said: “For many years I have held the Golden Nugget team and their accomplishments in the highest regard.

“I am very excited to be joining the team and I look forward to helping GNOG expand its market leading position across every US igaming market.”

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The group, which is the parent company of Golden Nugget and Landry’s, expects to use the proceeds from the transaction to accelerate its growth initiatives, general corporate purposes and reduce existing debt. 

In connection with the merger agreement, both parties will undertake certain organisational transactions to exclude from the public company certain businesses and assets that Tilman Fertitta will continue to wholly own on a private basis.

The transaction implies an enterprise valuation for Golden Nugget/Landry’s of approximately $6.6bn, or 9.25x projected 2022 pro forma adjusted EBITDA of $648m, including the value of the GNOG equity to be contributed to the company, based on an assumed per share trading price of approximately $18, which will be subject to adjustment based on the 60 day average price of the stock before closing. 

Estimated cash proceeds from the transaction are expected to consist of Fast’s $200m of cash in trust, assuming no redemptions. In addition, institutional shareholders have committed to invest approximately $1.2bn in the form of a PIPE at a price of $10 per share of common stock of Fast immediately prior to closing.

“The hospitality industry is experiencing the greatest disruption of our lifetimes and Tilman and his team have remained the premiere gaming and restaurant operators in the country,” said Jacob.

“We believe this diverse portfolio made up of full-service dining and entertainment concepts combined with pent-up consumer demand, will find continued success as a public company.”

Tilman Fertitta, sole owner of Fertitta, will continue to lead the Golden Nugget/Landry’s empire and serve as the chairman, president and CEO, as well as being its largest shareholder with an approximately 60 per cent interest and stock valued upon the closing of the transaction in excess of $2bn dollars. 

No other changes to management are anticipated as the existing Golden Nugget/Landry’s management team will continue to lead the group.

Fertitta explained: “I look forward to returning my company to the public marketplace. After taking the company private in 2010, we accomplished a lot. However, in today’s opportunistic world, I determined that in order to maximise the opportunities in the gaming, entertainment and hospitality sectors, it was preferable to take my company public. 

“We first began to explore going public in 2019, as we saw tremendous M&A deals hitting the market. However, the pandemic set these efforts back. Fast provided us with the perfect merger vehicle to allow us to take control of an already existing public company.

“Fast’s capital along with the equity investment from institutional shareholders will strengthen our balance sheet and allow us to pursue our acquisition strategy.”

Adding: “After I compared the opportunities provided by a transaction with Fast, versus the traditional IPO route, it became abundantly clear that we could access the capital markets with more certainty and speed if we did a deal with Fast.

“Working with Doug and Sandy has been a pleasure, and I truly appreciate their time and contribution to this process. At the end of the day, the decision to do a deal with Fast was a no-brainer.”

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