Fertitta is a cousin of Red Rock Resorts CEO Frank Fertitta III and Vice Chairman Lorenzo Fertitta and is not involved in the company that controls gaming operator Station Casinos.ĭraftKings has grown in the past four years from a daily fantasy sports provider into a sports betting giant operating retail and online sportsbooks in 17 of the 20 states with legal sports betting. The transaction includes a commercial agreement with Fertitta Entertainment, the Texas billionaire’s holding company that controls businesses across gaming, lodging, dining and entertainment sectors, including the Golden Nugget casinos in downtown Las Vegas, Laughlin and three other states.įertitta owns 46 percent of Golden Nugget Online Gaming and will join the DraftKings board once the deal closes.

In a filing with the Securities and Exchange Commission on Friday, DraftKings said the companies “continue to pursue the remaining gaming regulatory approvals necessary” to complete the transaction, which was announced last August.ĭraftKings expects the all-stock transaction to be finalized by May 31. The act prohibits financial companies from transferring money to online gambling sites, but games of skill are exempt.Sports betting giant DraftKings expects to close its $1.56 billion acquisition of Tilman Fertitta’s Golden Nugget Online Gaming by the end of next month, but it’s unclear when the company will operate retail and online sportsbooks in Nevada. But DFS operators, such as DraftKings and FanDuel, have insisted they offer a game of skill, which makes it legal under terms of the Unlawful Internet Gambling Enforcement Act of 2006. The investigators were reportedly trying to determine whether daily fantasy sports games are a form of gambling. FBI agents from the Boston office had reportedly started contacting customers of DraftKings, asking them about their interactions with the company, the Wall Street Journal reported Wednesday. The announcement comes one day after reports emerged that the Department of Justice and the FBI have launched an investigation into the legality of daily sports operators. 'Moreover, because DFS involves wagering on the collective performance of individuals participating in sporting events, under current law, regulation and approvals, in order to lawfully expose DFS for play within the State of Nevada, a person must possess a license to operate a sports pool issued by the Nevada Gaming Commission,' according to a statement. In a notice to licensees, the board stated that daily fantasy sports (DFS) meets the definition of a game or gambling game. The Nevada Gaming Control Board has said unlicensed daily fantasy sports inside the state must cease and desist as of Thursday, according to media reports.

Draftkings banned in nevada