Golden Nugget Online Gaming Awarded Arizona Tribal Events Wagering Operator License
HOUSTON, Aug. 30, 2021 /PRNewswire/ -- Golden Nugget Online Gaming, Inc. (Nasdaq: GNOG) ("GNOG") along with its partner Grand Canyon Resort Corporation ("GRCR"), a wholly owned company of the Hualapai Tribe, announced today that the Arizona Department of Gaming has awarded the partnership an online tribal event wagering operator license.
Thomas Winter, President of GNOG stated, "We thank the Arizona Department of Gaming for the opportunity to expand our online operations into the state of Arizona and together with GCRC and the Hualapai Nation, we look forward to providing Arizonians with our premier sports betting offerings."
"The Hualapai Tribe is pleased to have been approved for an event wagering license in Arizona and looks forward to this opportunity to earn additional gaming revenue to support the Hualapai people," said Dr. Damon R. Clarke, Chairman of the Hualapai Tribe. "With an outstanding partner in Golden Nugget, we will establish a top-tier event wagering operation through our Grand Canyon Resort Corporation. The Golden Nugget brand is certainly no stranger to the residents of Arizona. With the Las Vegas and Laughlin casino properties bordering our state, Golden Nugget has been providing legal sports betting and casino wagering entertainment to Arizonans for over 70 years. We are pleased to be associated with such an iconic brand and anticipate this being a long and prosperous partnership for the Hualapai Tribe."
Golden Nugget Online Gaming, Inc. is a leading online gaming company that is considered a market leader by its peers and was first to bring Live Dealer and Live Casino Floor to the United States online gaming market. GNOG was the recipient of 17 eGaming Review North America Awards, including the coveted "Operator of the Year" award in 2017, 2018, 2019 and 2020.
About The Hualapai Tribe
The Hualapai Tribe is a federally recognized Indian Tribe located in northwestern Arizona. "Hualapai" (pronounced Wal-lah-pie) means "People of the Tall Pines." In 1883, an executive order established the Hualapai reservation. The reservation encompasses about one million acres along 108 miles of the Grand Canyon and Colorado River, occupying part of three northern Arizona counties: Coconino, Yavapai, and Mohave.
About Grand Canyon Resort Corporation
Grand Canyon Resort Corporation (GCRC) is wholly owned by the Hualapai Tribe and is located in Peach Springs, Arizona. In 1988, the Hualapai Indian Tribe, which has occupied the land since 1883, established GCRC, welcoming millions of visitors each year to tour the area, including the nearby lodge, ranch, river rafting company and Grand Canyon West.
Cautionary Statement Regarding Forward-Looking Statements
This communication may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, known as the PSLRA. When used in this communication, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of GNOG's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. These forward-looking statements include, without limitation, DraftKings' and GNOG's expectations with respect to future performance and anticipated financial impacts of the proposed merger, the satisfaction of the closing conditions to the proposed merger and the timing of the completion of the proposed merger. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside DraftKings' and GNOG's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the outcome of any legal proceedings that may be instituted against DraftKings and GNOG following the announcement of the definitive merger agreement between DraftKings and GNOG (the "Merger Agreement") and the transactions contemplated therein; (2) the inability to complete the proposed merger, including due to failure to obtain approval of the stockholders of GNOG, approvals or other determinations from certain gaming regulatory authorities, or other conditions to closing in the Merger Agreement; (3) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement or could otherwise cause the transactions contemplated therein to fail to close; (4) the inability to obtain or maintain the listing of the shares of Class A Common Stock of the combined company on Nasdaq following the proposed merger; (5) the risk that the proposed merger disrupts current plans and operations as a result of the announcement and consummation of the proposed merger; (6) the ability to recognize the anticipated benefits of the proposed merger, which may be affected by, among other things, competition and the ability of the combined company to grow and manage growth profitably and retain its key employees; (7) costs related to the proposed merger; (8) changes in applicable laws or regulations, particularly with respect to gaming, gambling, sportsbooks, fantasy sports and other similar businesses; (9) the possibility that DraftKings, GNOG or the combined company may be adversely affected by other economic, business, and/or competitive factors, (10) market and supply chain disruptions due to the COVID-19 outbreak or other epidemics, pandemics or similar public health events; and (11) other risks and uncertainties indicated from time to time in the information/prospectus relating to the proposed merger, including those under "Risk Factors" in GNOG's filings with the SEC. GNOG cautions that the foregoing list of factors is not exclusive. GNOG cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see GNOG's filings with the SEC. GNOG does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE Golden Nugget Online Gaming, Inc.
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