Tilman out there trying to raise money any way he can so he doesn't have to sell the team. I wonder if he can use any of the money raised by this to pay off those giant high-interest short-term loans he took out earlier this year. https://www.casino.org/news/landcadia-investors-finally-approve-gnog-merger/ Tilman Fertitta’s Golden Nugget Online Gaming will make its debut as a standalone publicly traded entity on Wednesday, Dec. 30, launching on the Nasdaq under the ticker “GNOG.” That’s after Landcadia Holdings II, Inc. (NASDAQ:LCA) investors voted to approve a merger between the two companies. Lancadia failed to garner enough votes for the combination at a previously scheduled virtual meeting on Dec. 18. Landcadia, a special purpose acquisition company (SPAC) controlled by Fertitta and investment bank Jefferies, adjourned that conference. It then called a special shareholders meeting, which took place today. Citing an investor base that’s 70 percent retail, a group that typically doesn’t pay much attention to corporate votes, the SPAC amended its purchase agreement with GNOG. It allowed a simple majority of attendees at today’s meeting to vote in favor of the merger to move it forward, rather than more than half of the overall shareholder count. The strategy worked, as today’s virtual meeting lasted just over six minutes, with attendees voting overwhelmingly in favor of the merger. An official tally will be revealed in a regulatory filing with the Securities and Exchange Commission (SEC).
Ticker is GNOG. Tilman missed his chance to have Eric Gordon advertise for his casino. Could have been EGGNOG.
so now Tilman is gonna have to be responsive to shareholders... guess he's gonna have to learn to 'Shut up and Listen'! lol
This is *not* GNI. GNOG is a shell game of the April loans. GNI (Golden Nugget Inc) is separate, and receiving the loans from GNOG. That’s the whole point. In fact, the merger already secured half of the $300m loan. It’s a crazy ass accounting game, but for sure, GNI is not going public. A company created specifically for an accounting maneuver of the loans is going public ... it has an online gaming license, too...fwiw, .... literally .... For What It’s Worth.
This is just the merger of a SPAC (LCA II) with Golden Nugget's online gaming arm, so it's been known for a while -- this was just the merger vote which was expected to be approved, I think. Fertitta is capitalizing on SPAC frenzy to make some money. He's got LCA (merged with WAITR), LCA II (merging with Golden Nugget online gaming), and LCA III out there looking for someone to merge with and, according to Fertitta, LCA IV is on the way.
You can hate on Tilly but his pockets got real thin this year. He's still a douchebag and cheap. Karma gonna Karma. He needs to invest outside of hospitality like yesterday
