Wynn to Merge Sportsbetting Business

American betting group Wynn Resorts has revealed that they've opted to merge its online sportsbetting business by merging it with (SPAC) Austerlitz Acquisition Corp., taking the venture public.

The company will form the new venture and will bring about $640 million in cash to the business. It's expected to be named Wynn Interactive Limited and will be listed on the Nasdaq stock exchange under the ticker WBET. It's expected that this transaction will close later this year and is subject to regulatory approvals.

Commenting on the deal Wynn Resorts CEO Matt Maddox said, "(This merger will ) unlock the tremendous potential of Wynn Interactive to further accelerate growth and enable the business to capture the massive opportunity in North America."

Regulated sportsbetting has been growing in the United States over the last few years after the Supreme Court authorized the activity. Multiple states are now offering the activity, and if Wynn can get its act together it stands to be a premier betting brand in the country.

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.

Comments

Post new comment

There are currently no comments on this page. Be the first!

Login using your social network account
Or log in with a Casino Listings account

Login or register to post comments

Registering for an account takes less than a minute and you will be brought right back here to comment afterwards.