June 30, 2020 - Another week, another company going public via SPAC. This time, Landcadia (LCA) is merging with Golden Nugget Online Gaming and when the merger is complete, begin trading under the ticker symbol "GNOG."
A SPAC, or Special Purpose Acquisition Company, is a way for private companies to go public without the large fees and IPO roadshows. VectoIQ Acquisition Corp. (VTIQ) recently merged with Nikola Motor (NKLA) and investors are now valuing this company, with no sales, at $24 billion or $66 per share.
Golden Nugget Online Gaming is the #1 NJ online casino offering progressive online slots, online blackjack, roulette, live dealer casino, video poker, keno and an online Sportsbook. This IPO will follow DraftKings (DKNG) which went public several months ago with a lot success.
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