Tilman Fertitta's golden online gaming casino officially sold to major sports company

done deal

Fertitta just had an exit of one of his companies. Photo by J. Thomas Ford

The acquisition of Tilman Feritta’s Golden Nugget Online Gaming, Inc. (Nasdaq: GNOG) by digital sports entertainment and gaming company DraftKings Inc. (Nasdaq: DKNG) is complete.

DraftKings announced that it has completed the acquisition, worth at approximately $1.6 billion (dubbed the “GNOG Acquisition”) on Thursday, May 5.

“This will be an alliance unlike any other in the digital sports, entertainment and online gaming industry,” Fertitta said in a statement . “Now that the acquisition is completed, I look forward to what the future will bring for our combined company and am confident this relationship will be a huge success.”

DraftKings notes in a press release that this GNOG Acquisition will allow the company to leverage Golden Nugget’s established brand to “broaden its reach into new customer segments and enhance the combined company’s iGaming product offerings through DraftKings’ vertically integrated tech stack and Golden Nugget Online Gaming’s unique capabilities – including Live Dealer.”

Notably, the GNOG Acquisition will not include brick and mortar Golden Nugget casinos; Fertitta will maintain ownership of those entities.

The GNOG Acquisition will deliver “significant” benefits to DraftKings, as well as expected savings of $300 million, a release notes. The company aims to deploy a multi-brand approach meant to enhance cross-selling opportunities and drive increased revenue.

Additionally, DraftKings and Fertitta Entertainment expect to rebrand some current and future retail sportsbook locations at Fertitta Entertainment-owned Golden Nugget properties into DraftKings sportsbooks.

As CultureMap previously reported, DraftKings' agreement with Fertitta Entertainment will provide for it to become the exclusive daily fantasy sports, sports betting, and iGaming partner of the Houston Rockets. Additionally, if sports betting becomes legal in Texas, DraftKings will open a sportsbook at the Toyota Center.

As the Houston Chronicle reports, DraftKings, headquartered in Boston, more than doubled its revenues to nearly $1.3 billion in 2021 from about $615 million in 2020, according to SEC filings. Its net loss widened to about $1.5 billion from $1.2 billion in 2020.

“Acquiring Golden Nugget Online Gaming gives us synergies across our business,” said Jason Robins, chairman and CEO of DraftKings, in a statement. “We anticipate that this acquisition will provide meaningful revenue uplift by utilizing our data-driven marketing capabilities and a dual brand iGaming strategy, gross margin improvement opportunities, and cost savings across external marketing and SG&A. I am proud to welcome the Golden Nugget Online Gaming team to the DraftKings family.”

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This article originally ran on CultureMap.

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Tilman Fertitta's online gambling biz has changed hands. Photo by J. Thomas Ford

Houston businessman sells online gaming casino in $1.56B deal with fantasy sports tech company

m&a

DraftKings, the nationally renown fantasy sports and online sportsbook company (Nasdaq: DKNG), announced it will acquire Houston billionaire Tilman Fertitta's Golden Nugget Online Gaming, Inc. (Nasdaq: GNOG) in an all-stock transaction valued at $1.56 billion. In addition, DraftKings has reached an agreement with Fertitta Entertainment on a partnership with the Houston Rockets, Golden Nugget casinos, and the Landry's vast network of restaurants.

"Our acquisition of Golden Nugget Online Gaming, a brand synonymous with iGaming and entertainment, will enhance our ability to instantly reach a broader consumer base, including Golden Nugget's loyal 'iGaming-first' customers," Jason Robins, DraftKings' CEO and chairman of the board, said in a statement. "We look forward to Tilman being an active member of our Board and one of our largest shareholders."

Golden Nugget Online Gaming began operating in New Jersey in 2013. The company offers online gaming such as blackjack and slot machines that are accessible by computers, tablets, and smartphones. Live dealers enhance the experience for players.

Fertitta took Golden Nugget Online Gaming public in 2020. At the time, the deal valued the company at approximately $745 million. Fertitta currently owns approximately 46 percent of the shares in GNOG, according to a press release, and serves as its chairman and CEO.

"This transaction will add great value to the shareholders as two market leaders merge into a leading global player in digital sports, entertainment and online gaming," Fertitta said. "We believe that DraftKings is one of the leading players in this burgeoning space and couldn't be more excited to lock arms with Jason and the DraftKings family across our entire portfolio of assets, including the Houston Rockets, the Golden Nugget casinos, and Landry's vast portfolio of restaurants. This is a strong commercial agreement for both companies."

DraftKings' agreement with Fertitta Entertainment will provide for it to become the exclusive daily fantasy sports, sports betting, and iGaming partner of the Houston Rockets. Additionally, if sports betting becomes legal in Texas, DraftKings will open a sportsbook at the Toyota Center.

The boards of directors of both directors of both companies have approved the transaction, which is subject to regulatory approvals. It is expected to close in the first quarter of 2022.

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This article originally ran on CultureMap.

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10 promising Houston startups that made headlines in 2025

year in review

Editor's note: As we reflect on 2025, we're looking back at the stories and startups that made waves in Houston's innovation scene. These 10 startups reached memorable milestones, won prestigious awards, found creative solutions, and disrupted their industries.

Persona AI: Houston humanoid robotics startup inks new deal to deploy its rugged robots

A concept design rendering of Persona AI's humanoid robot. The company is expanding at the Ion and plans to deliver prototype humanoids by the end of 2026 for complex shipyard welding tasks. Rendering courtesy Persona AI.

Persona AI is building modularized humanoid robots that aim to deliver continuous, round-the-clock productivity and skilled labor for "dull, dirty, dangerous, and declining" jobs. The company was founded by Houston entrepreneur Nicolaus Radford, who serves as CEO, along with CTO Jerry Pratt and COO Jide Akinyode. It raised $42 million in pre-seed funding this year and is developing its prototype of a robot-welder for Hyundai's shipbuilding division, which it plans to unveil in 2026. The company won in the Deep Tech Business category at this year's Houston Innovation Awards. Continue reading.

Rheom Materials: Houston startup unveils its innovative leather alternative at the rodeo

Rheom Materials presented its bio-based alternative, Shorai, a 93 percent bio-based leather, at the rodeo and plans to scale it up this year. Photos courtesy Rheom Materials

Rheom Materials presented its scalable, bio-based alternative known as Shorai, a 93 percent bio-based leather, through two custom, western-inspired outfits that showed off cowboy flair through a sustainable lens at the Houston Livestock Show and Rodeo earlier this year.

Next up, the company said it aimed to scale production of Shorai, the Japanese word for “future,” at a competitive price point, while also reducing its carbon footprint by 80 percent when compared to synthetic leather. The company also made a large-scale production partnership with a thermoplastic extrusion and lamination company, Bixby International, this year. Continue reading.

Koda Health: Houston digital health platform Koda closes $7 million funding round

Tatiana Fofanova and Dr. Desh Mohan, founders of Koda Health, which recently closed a $7 million series A. Photo courtesy Koda Health.

Houston-based digital advance care planning company Koda Health closed an oversubscribed $7 million series A funding round this year. The round, led by Evidenced, with participation from Mudita Venture Partners, Techstars and Texas Medical Center, will allow the company to scale operations and expand engineering, clinical strategy and customer success. Koda Health, saw major growth this year by integrating its end-of-life care planning platform with Dallas-based Guidehealth in April and with Epic Systems in July. The company won the Health Tech Business category at the 2025 Houston Innovation Awards. Continue reading.

Veloci Running: Student-led startup runs away with prestigious prize at Rice competition

The H. Albert Napier Rice Launch Challenge awarded $100,000 in equity-free funding to student-led startups, including first-place finisher Veloci Running. Photo courtesy of Rice University.

Veloci Running took home the first-place prize and $50,000 at the annual Liu Idea Lab for Innovation and Entrepreneurship's H. Albert Napier Rice Launch Challenge. The company was founded by Tyler Strothman, a former track and field athlete and senior at Rice, majoring in sport management. Inspired by the foot pain he suffered due to the narrow toe boxes in his running shoes, Strothman decided to create a naturally shaped shoe designed to relieve lower leg tightness and absorb impact. Additional prize winners included SteerBio, Kinnections, Labshare and several others. Continue reading.

Square Robot Inc.: Houston robotics co. unveils new robot that can handle extreme temperatures

The new robot eliminates the need for humans to enter dangerous and toxic environments. Photo courtesy of Square Robot

Houston- and Boston-based Square Robot Inc.'s newest tank inspection robot became commercially available and certified to operate at extreme temperatures this fall. The new robot, known as the SR-3HT, can operate from 14°F to 131°F, representing a broader temperature range than previous models in the company's portfolio. According to the company, its previous temperature range reached 32°F to 104°F. The company also announced a partnership with downstream and midstream energy giant Marathon Petroleum Corp. (NYSE: MPC) last month. Continue reading.

Bot Auto: Houston autonomous trucking co. completes first test run without human intervention

Bot Auto completed its first test run without human assistance in Houston. Photo courtesy Bot Auto.

Houston-based Bot Auto, an autonomous trucking company, completed its first test run without human assistance earlier this year. Bot Auto conducted the test in Houston. The transportation-as-a-service startup added that this milestone “serves as a validation benchmark, demonstrating the maturity and safety of Bot Auto’s autonomy stack and test protocols.” This summer, founder Xiaodi Hou told the Front Lines podcast that Bot Auto had raised more than $45 million. Continue reading.

Nomad: Screen-free hiking app developed in Houston earns 'Best of the Best' award

NOMAD aims to help hikers stay in the moment while still utilizing technology. Photo courtesy UH.

An AI-powered, screen-free hiking system developed by Varshini Chouthri, a recent industrial design graduate from the University of Houston, received this year's Red Dot’s “Best of the Best” award, which recognizes the top innovative designs around the world. Known as NOMAD, the system aims to help users stay in the moment while still utilizing technology. Continue reading.

Little Place Labs, Helix Earth, Tempest Droneworx: Houston startups win big at SXSW 2025 pitch competition

Two Houston startups won the SXSW Pitch showcase in their respective categories. Photo via Getty Images

Houston had a strong showing at the SXSW Pitch showcase in Austin this year, with several local startups claiming top prizes in their respective categories.

Little Place Labs, a Houston space data startup, won the Security, GovTech & Space competition. Clean-tech company Helix Earth, which spun out of Rice University and was incubated at Greentown Labs, won in the Smart Cities, Transportation & Sustainability contest. Tempest Droneworx, a Houston-based company that provides real-time intelligence collected through drones, robots and sensors, won the Best Speed Pitch award. Continue reading.

6 Houstonians named to prestigious national group of inventors

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Six Houston scientists and innovation leaders have been named to the National Academy of Inventors’ newest class of fellows. The award is the highest professional distinction awarded to academic inventors by the NAI.

The 2025 class is made up of 169 fellows who hold more than 5,300 U.S. patents, according to the organization. The group hails from 127 institutions across 40 U.S. states.

The Houston-based inventors are leading fields from AI to chemistry to cancer research.

“NAI Fellows are a driving force within the innovation ecosystem, and their contributions across scientific disciplines are shaping the future of our world,” Paul R. Sanberg, president of the National Academy of Inventors, said in a news release. “We are thrilled to welcome this year’s class of Fellows to the Academy. They are truly an impressive cohort, and we look forward to honoring them at our 15th Annual Conference in Los Angeles next year.”

The 2025 list of Houston-based fellows includes:

  • Vineet Gupta, Vice President for Innovation, Technology Development and Transfer at the University of Texas Medical Branch
  • Eva Harth, chemistry professor at the University of Houston
  • Dr. Raghu Kalluri, Professor and Chairman of the Department of Cancer Biology at The University of Texas MD Anderson Cancer Center
  • Sanjoy Paul, Executive Director of Rice Nexus and AI Houston and Associate Vice President for Technology Development at Rice University
  • Dr. Jochen Reiser, President of the University of Texas Medical Branch and CEO of UTMB Health System
  • Todd Rosengart, Professor and Chair of the Department of Surgery at Baylor College of Medicine

"It is a great honor to be named a Fellow of the NAI. It is deeply gratifying to know that the work my students and I do — the daily push, often in small steps — is seen and recognized," Harth added in a news release from UH.

The 2025 fellows will be honored and presented with their medals by a senior official of the United States Patent and Trademark Office at the NAI Annual Conference this summer in Los Angeles.

Money talks: Top Houston innovation grant and gift news of 2025

Year in Review

Editor's note: As 2025 comes to a close, we're looking back at the stories that defined Houston innovation in 2025. Below, we recap the biggest Houston innovation grant funding and gift news of the year:

Houston scores $120M in new cancer research and prevention grants

The Cancer Prevention and Research Institute of Texas has doled out 73 more grants to health care systems and companies in the state. Carter Smith/Courtesy of MD Anderson

In November 2025, the Cancer Prevention and Research Institute of Texas granted more than $120 million to Houston organizations and companies as part of 73 awards issued statewide. The funds were part of nearly $154 million approved by the CPRIT's governing board earlier that month, bringing the organization's total investment in cancer prevention and research to more than $4 billion since its inception.

TMC lands $3M grant to launch cancer device accelerator

Recent funding from CPRIT will help launch the new Accelerator for Cancer Medical Devices. Photo via TMC

In September 2025, a new business accelerator at Houston’s Texas Medical Center received a nearly $3 million grant from the Cancer Prevention and Research Institute of Texas. The CPRIT grant, awarded to the Texas Medical Center Foundation, will help launch the Accelerator for Cancer Medical Devices. The accelerator will support emerging innovators in developing prototypes for cancer-related medical devices and advancing them from prototype to clinical trials.

Houston foundation grants $27M to support Texas chemistry research

Houston's Welch Foundation has awarded more than 80 grants to support chemical research and careers in Texas for 2025. Photo via Getty Images

Houston-based The Welch Foundation doled out $27 million in its June 2025 round of grants for chemical research, equipment and postdoctoral fellowships. $25.5 million was allocated for the foundation's longstanding research grants, which provide $100,000 per year in funding for three years to full-time, regular tenure or tenure-track faculty members in Texas. The foundation made 85 grants to faculty at 16 Texas institutions for 2025.

Houston Methodist receives $25M gift, renames department of medicine

Houston Methodist will rename its department of medicine the Houston Methodist Charles W. Duncan Jr. Department of Medicine. Photo courtesy Houston Methodist.

In August 2025, Houston-based nonprofit The Duncan Fund awarded a $25 million gift to Houston Methodist's department of medicine to establish new endowed fellowships, streamline complex care and bring artificial intelligence into the fold to develop more personalized treatment plans. In turn, the health care system announced that it would rename the department the Houston Methodist Charles W. Duncan Jr. Department of Medicine.

Houston foundation doles out $700K for Texas chemical research

The Welch Foundation has awarded funding through two of its newest grant programs. Photo via Getty Images.

Houston-based The Welch Foundation issued $700,000 in additional funding in August 2025 to support chemical research through two of its newest grant programs. The foundation named the recipients of its Welch eXperimental (WelchX) Collaboration Retreat and Pilot Grants and the Welch Postdoctoral Fellows of the Life Sciences Research Foundation Grants. The WelchX grants were awarded to teams of two Texas researchers who presented "innovative and collaborative ideas" addressing challenges in the clean energy space, according to the foundation.

CPRIT grants $22M to bring top cancer researchers to Houston

CPRIT recently granted $93 million to 61 organizations and scientists, including many in Houston, to advance cancer research. Carter Smith/Courtesy of MD Anderson

In June 2025, it was announced that several prominent cancer researchers would be coming to the Houston area thanks to $22 million in grants awarded by the Cancer Prevention and Research Institute of Texas (CPRIT). The biggest CPRIT recruitment grant — $6 million — went to genetics researcher Jean Gautier. Gautier, a professor of genetics and development at Columbia University’s Institute for Cancer Genetics, joined the University of Texas MD Anderson Cancer Center to continue his research.

Baylor, Rice win $500,000 to launch humanities-driven health AI center

A new center being developed by Baylor College of Medicine and Rice University aims to develop ethically responsible and trustworthy AI for health care. Photo via Getty Images.

In August 2025, Baylor College of Medicine and Rice University announced they had been awarded a $500,000 grant from the National Endowment for the Humanities (NEH) to create the Center for Humanities-based Health AI Innovation (CHHAIN).

Baylor center receives $10M NIH grant to continue rare disease research

BCM's Center for Precision Medicine Models has received funding that will allow it to study more complex diseases. Photo via Getty Images

Baylor College of Medicine’s Center for Precision Medicine Models received a $10 million, five-year grant from the National Institutes of Health in November 2025, which will allow it to continue its work studying rare genetic diseases. The Center for Precision Medicine Models creates customized cell, fly and mouse models that mimic specific genetic variations found in patients, helping scientists to better understand how genetic changes cause disease and explore potential treatments.

Houston billionaire benefactors will donate almost entire fortune to charity

Pictured: Nancy and Richard Kinder. Photo by Michelle Watson/Catchlight Group

Houston billionaires Rich and Nancy Kinder announced plans to donate an astounding 95% of their multi-billion-dollar wealth to charities. The news came as the Kinder Foundation announced an $18.5 million expansion project for Emancipation Park in the heart of Third Ward. That historic park was founded by slaves in 1872.

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