Wynn Resorts terminates merger plan

Share on facebook
Share on twitter
Share on pinterest
Share on linkedin
Wynn Resorts terminates merger plan

Wynn Resorts has announced the termination of a previously planned merger between its online gaming arm, Wynn Interactive Ltd, and Austerlitz Acquisition Corporation.

The merger between Wynn’s interactive business and special purpose acquisition company (SPAC) had been revealed in May, with the newly formed Wynn Interactive Ltd to be listed on the NASDAQ.

In a statement explaining the decision not to merge Wynn Interactive, Billings said, “With our continued roll out of product features and planned new state launches, including New York, we remain excited about WynnBET’s future.

Wynn Resorts President Craig Billings had also been tapped to lead the online entity before last week’s major announcement that he would return to Wynn Resorts as CEO in 2022 following the departure of Matt Maddox.

“As we discussed on the Wynn Resorts Limited third quarter earnings conference call, in light of elevated marketing and promotional spend in the sports betting industry, we are pivoting our user acquisition efforts to a more targeted ROI-focused strategy. In so doing, we expect the capital intensity of the business to decline meaningfully beginning in the first quarter of 2022. WynnBET’s best days lie ahead of us.”

Termination of the merger agreement will also allow Billings and the Wynn Resorts board to maintain direct control over online operations once he returns as CEO in February.

READ MORE

Trusted Online Casino Malaysia 2021

Unlike most other casino gaming review sites online which target Western markets, GamingSafe.net is the very first site to specifically target Online Casinos Malaysia, Thailand, and Indonesia, giving us a better view of the online gaming landscape in this region.

We review Online Casino Malaysia & Sportsbook Sites. With this list, you can focus on winning the game instead of worrying whether the websites are genuine or not! We review the site, you enjoy the game! View our Top 10 Trusted Online Casino Malaysia.

Share on facebook
Share on twitter
Share on pinterest
Share on linkedin

Latest News

Latest Game Reviews

Latest in e-Sports

Get The Latest Updates

Subscribe To Our Newsletter

Sign up for exclusive offers and latest news and receive them straight to your inbox.

Latest in Poker

Latest in Payments