WILMINGTON, Del., May 20, 2024 /PRNewswire/ -- 

IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE

SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF STOCKHOLDER CLASS ACTION, SETTLEMENT HEARING, AND RIGHT TO APPEAR

TO: ALL RECORD AND BENEFICIAL HOLDERS OF GOLDEN NUGGET ONLINE GAMING, INC. ("GNOG") WHO, AS PART OF THE ACQUISITION (THE "TRANSACTION") OF GNOG BY DRAFTKINGS INC. ("DRAFTKINGS"), RECEIVED 0.365 SHARES OF NEW DRAFTKINGS CLASS A COMMON STOCK FOR EACH GNOG SHARE THEY OWNED.

PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY. YOUR RIGHTS WILL BE AFFECTED BY THE LEGAL PROCEEDINGS IN THIS ACTION.

YOU ARE HEREBY NOTIFIED, pursuant to Delaware Court of Chancery Rules 23(a), 23(b)(1), and 23(b)(2) and an Order of the Delaware Court of Chancery (the "Court"), that the above-captioned consolidated stockholder class action (the "Action") has been certified as a non-opt-out class action on behalf of the Class, except for certain persons and entities who are excluded from the Class by definition as set forth in the Stipulation and Agreement of Settlement, Compromise and Release dated March 1, 2024 (the "Stipulation of Settlement," available at www.GoldenNuggetStockholderLitigation.com). Undefined terms used in this summary notice have the meaning set forth in the Stipulation of Settlement.

YOU ARE ALSO HEREBY NOTIFIED pursuant to Delaware Court of Chancery Rules 23(a), 23(b)(1), and 23(b)(2) and an Order of the Court that the Lead Plaintiffs in the Action, on behalf of themselves and the other members of the Class, have reached a proposed settlement of the Action with Defendants and certain non-parties for a payment of $22,000,000 in cash (the "Settlement") on the terms and conditions set forth in the Stipulation of Settlement. If the Settlement is approved by the Court, it will resolve all claims in the Action.

A settlement hearing will be held on July 9, 2024 at 11:00a.m. at the Court of Chancery in the Leonard L. Williams Justice Center, 500 North King Street, Wilmington, DE 19801, to determine, among other things, (i) whether the proposed Settlement on the terms and conditions provided for in the Stipulation of Settlement is fair, reasonable and adequate to the Class, and should be approved by the Court; (ii) whether the Action should be dismissed with prejudice and the Releases specified and described in the Stipulation of Settlement should be granted; and (iii) whether Class Counsel's application for an award of attorneys' fees, reimbursement of litigation expenses, and incentive award to Lead Plaintiff Steven Eschbach should be approved.

IF YOU ARE A MEMBER OF THE CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PENDING ACTION AND THE SETTLEMENT. If you have not yet received the full printed Notice of Pendency and Proposed Settlement of Stockholder Class Action, Settlement Hearing, and Right to Appear (the "Notice"), you may obtain copies of the Notice by contacting the Settlement Administrator at: In re Golden Nugget Online Gaming, Inc. Stockholders Litigation, Settlement Administrator, c/o A.B. Data Ltd, P.O. Box 170500, Milwaukee, WI 53217. Copies of the Notice can also be downloaded from the website maintained by the Settlement Administrator, www.GoldenNuggetStockholderLitigation.com. 

If the Settlement is approved by the Court and the Effective Date occurs, the Net Settlement Fund will be distributed on a pro rata basis to "Eligible Class Members." The "Eligible Class Members" consist of Class Members who received or were entitled to receive the Transaction Consideration for their Eligible Shares. For the avoidance of doubt, Eligible Class Members exclude all Excluded Stockholders. Pursuant to the terms of the Stipulation of Settlement, each Eligible Class Member will be eligible to receive a pro rata payment from the Net Settlement Fund equal to the product of (i) the number of Eligible Shares held by the Eligible Class Member and (ii) the "Per-Share Recovery" under the Settlement, which will be determined by dividing the total amount of the Net Settlement Fund by the total number of Eligible Shares. As explained in further detail in the Notice, pursuant to the Stipulation of Settlement, payments from the Net Settlement Fund to Eligible Class Members will be made in the same manner in which Eligible Class Members received the Transaction Consideration. Eligible Class Members do not have to submit a claim form or take any other action in order to receive payment from the Settlement.

Any objections to the proposed Settlement and/or Class Counsel's application for an award of attorneys' fees, reimbursement of litigation expenses, and incentive award to Lead Plaintiff Eschbach must be filed with the Register in Chancery and delivered to the Class Counsel and Defendants' counsel identified in the Notice such that they are received no later than June 24, 2024, in accordance with the instructions set forth in the Notice. 

All questions about this summary notice and the proposed Settlement should be directed to the Settlement Administrator or Class Counsel.

Requests for the Notice should be made to:

In re Golden Nugget Online Gaming, Inc. Stockholders Litigation
Settlement Administrator
c/o A.B. Data Ltd.
P.O. Box 170500
Milwaukee, WI 53217

info@GoldenNuggetStockholderLitigation.com
www.GoldenNuggetStockholderLitigation.com
877-235-9861

Inquiries, other than requests for the Notice and Claim Form, should be made to the following Class Counsel:

Dated: May 10, 2024

BY ORDER OF THE COURT OF CHANCERY OF THE STATE OF DELAWARE

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SOURCE Block & Leviton LLP and Friedman Oster & Tejtel PLLC