AMC Allows BTC Payments, DraftKings and Cargill Announce Acquisition Deals

According to CEO Adam Aron, cinema giant AMC Entertainment Holdings Inc. (NYSE: AMC) will soon start accepting BTC payments for tickets following customer demand. 

AMC to allow BTC payment in 2022

The company could start accepting BTC payments from next year for movie tickets, as stated by Aron during the Q2 earnings conference. The company is working on the BTC payment infrastructure, and the CEO confirmed that they would have the system up by the end of this year. Aron cited strong demand from customers who are purchasing movie tickets using cryptos.

AMC reported revenue of $444 million in Q2 compared to $18.9 million a year ago. Equally, Net losses dropped $349 million or $0.71 per share from $561 million in Q2 2020. 

DraftKings to acquire Golden Nugget 

DraftKings Inc. (NASDAQ: DKNG) has signed a definitive agreement with Golden Nugget Online Gaming Inc. (NASDAQ: GNOG) to acquire Golden Nuggets by DraftKings in an all-stock transaction estimated to be worth $1.56 billion. The transaction will allow DraftKings to capitalize on Golden Nugget’s established brand, iGaming experience, and a database of over 5 million customers. In conjunction with the transaction, DraftKings also signed a commercial deal with Golden Nugget LLC, Landry’s LLC, and Houston Rockets’ parent company Fertitta Entertainment Inc. 

Jason Robins, CEO DraftKings, said, “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.”

Continental Grain and Cargill to acquire Sanderson Farms 

Continental Grain Company and Cargill have jointly agreed to purchase US poultry producer Sanderson Farms at $4.53 billion. The deal comes at a time when chicken meat demand is soaring in the wake of the pandemic. Continental Grain’s subsidiary Wayne Farms will combine with Sanderson Farms to establish a privately held poultry enterprise as part of the agreement. 

According to people familiar with the matter, Continental Grain and Cargill will control the combined company via a 50:50-owned joint venture. As per the agreement terms, Sanderson Farms’ stockholders will receive $203 for each share held. 

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