Golden Nugget Online Gaming Secures Illinois Market Access

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HOUSTON, Nov. 19, 2020 /PRNewswire/ — Golden Nugget Online Gaming, Inc. (“GNOG”) announced today that it has entered into a definitive agreement with Danville Development, LLC (“Danville Development”) for market access to the State of Illinois for online sports wagering and I-gaming (when legalized).  According to the agreement, Golden Nugget, LLC (“Golden Nugget”) will enter into a joint venture agreement with Wilmot Gaming Illinois, LLC (“Wilmot”) to build a new casino in Danville, Illinois, pending obtaining all regulatory approvals. The casino, when opened, will be branded Golden Nugget and feature a Landry’s restaurant steakhouse.  Danville Development is a joint venture between Wilmot and GN Danville, LLC, a wholly owned subsidiary of Golden Nugget. Under the definitive agreement, GNOG holds the exclusive right to offer online sports wagering and, if permitted by law in the future, online casino wagering.  In addition, GNOG has committed to provide a mezzanine loan in the amount of $30 million to Danville Development for the development and construction of the casino.  GNOG’s market access agreement is for a term of 20 years and requires GNOG to pay Danville Development a percentage of its online net gaming revenue, subject to minimum royalty payments over the term.”Wilmot is pleased to deliver …

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