DraftKings has agreed to acquire Golden Nugget Online Gaming for $1.56 billion in stock, with the latter’s shareholders receiving 0.356 DraftKings shares, a roughly 53 percent premium to Golden Nugget Online’s stock. On the news, Golden Nugget Online shares skyrocketed almost 48 percent, but DraftKings’ remained relatively flat. The deal, which will bring 5 million online casino customers to DraftKings’ ecosystem, has been approved by both companies’ boards and is slated to close in the first quarter of 2022. Continue reading DraftKings to Purchase Golden Nugget Online for $1.56 Billion

Gaming company Activision Blizzard suspended an eSports player who, during a live broadcast, expressed his support for the pro-democracy protest movement in Hong Kong. Professional “Hearthstone” player Chung Ng Wai has been suspended for a year and forced to give up $10,000 in prize money. The move led to a significant backlash from gamers and politicians via social media and online forums. The public relations dilemma is similar to what played out this week following NBA commissioner Adam Silver’s support of free speech, which led to the decision by China’s state-run television not to broadcast two NBA games. Continue reading Blizzard Suspends Pro eSports Player for His Political Stance