Golden Nugget makes headlines created by its owner
It’s not long between the headlines when it comes to Tilman Fertitta, and its insanely popular online gambling asset, Golden Nugget. However, to get the full topic background, let’s first disclose the what and when’s. It all started in February, when a special purpose acquisition company (SPAC), also known as a “blank check company”. More known in this instance as the Fast Acquisition Corp expressed its intentions to merge the well-known hospitality giant with its own interests. And everything was seemingly going as planned. Well, this until some lingering paperwork got in its way. And, now we learn that Mr. Fertitta is looking at possibilities to have the merge expunged. And it is leading to a full blowback from Fast Acquisition Corp. And this is what we know so far. Read the latest Golden Nugget News.
Golden Nugget News – In a headlock
Before we go too deep into the story, we think it’s important to point out that the final decision is far from settled. However, this is where the merge stands right now. Where the continuation is in a headlock. Where both parties claim that the paper exercise got delivered in due time. Still, some claims from Fast Acquisition Corp say that Fertitta Entertainment failed to adhere to the set deadline of financial statements and records delivery. Consequentially, calling the incident “unquestionably” the main source of the stick in the spokes event. Naturally, Fertitta Entertainment assumes no responsibility. As the organization says that the hinder was the lingering regulatory approval. That didn’t show up until November 24th. Essentially, making it impossible to close in time.
It was in its best interest
Further comments from the Golden Nugget owners conveyed a relatively strong language with no room for misinterpretation, saying in part. “It was in its best interest to elect to exercise its termination right under the merger agreement.” In other words, not to go through with the $8.6 Billion merge deal between Fertitta Entertainment and Fast Acquisition Corp. Backed by comments like. “Terminate the agreement after the parties failed to close the deal by the termination date”.
Golden Nugget News – The DraftKings takeover
Undoubtedly, Mr.Fertitta has a strong business presence in New Jersey and even more so in Atlantic City. And just because Fertitta Entertainment might pull out of the merge with Fast Acquisition Corp doesn’t mean other affairs are in full swing. But also look to get delivered in time. And we are, of course, thinking of the DraftKings takeover. More precisely, that now would be a great time to put effort into the Golden Nugget online gambling sale to the betting and daily fantasy sports betting goliath DraftKings. And according to sources, the $1.56 Billion valued Golden Nugget deal is on the route. Meaning, if the information is to rely on, the deal going to see closure in the first half of 2022
A stern warning from Fast Acquisition Corp
Indeed, the response from Acquisition Corp came with a promise of legal actions. And the exact word used by the declined reads as follows. “You are hereby placed on notice of breach. And that should your breach not be immediately remedied, we intend to initiate litigation”. And here we are. Now, what will come of this, dare we say, spectacle, is out of anyone’s prediction. And we just have to see what the outcome is. Still, what we do know is if this goes to the room of judgment, the final verdict will linger with its presence.
The saga will end
Yes, the merge between Fast Acquisition Corp and Fertitta Entertainment might be or might not be in jeopardy. Either or, the deal or no-deal will eventually get marked down as resolved. Although who the pleased parties are remaining for future news. So, we would suggest keeping following us as we continue reporting on the latest developments in this story. But also other revealing and inclusive information about the growing online and land-based gambling industry from US favorite playground, Atlantic City.