GNOG - DraftKings rallies with spotlight on earnings Golden Nugget closing

DraftKings (NASDAQ:DKNG +6.2%) jumped on Monday as investors start to prep for the company's earnings report due out on Friday. A big part of the investing matrix on DraftKings (DKNG) is also the acquisition of Golden Nugget Online Gaming (GNOG). The color from DraftKings (DKNG) execs on the earnings call could reset expectations on both stocks. Golden Nugget Chairman Tilman Fertitta said the transaction is still on track despite some delays, although the final deal price is likely to be lower than $1.5B. Under the terms of the merger, Golden Nugget (GNOG) shareholders would receive 0.365 shares of DKNG stock for each share of GNOG. Shares of DraftKings (DKNG) have peeled off 45% in 2022 amid the valuation reset by investors and cautious stance with growth story stocks. Fertitta's bullish view on DKNG: "I look at [DraftKings] as a long term hold... I will be one of the largest shareholders of

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DraftKings rallies with spotlight on earnings, Golden Nugget closing