The merger of the blank check company and Wynn’s online division projects immense rise in revenue
Austerlitz Acquisition Corporation I has reached an agreement with Wynn Resorts to acquire its online division Wynn Interactive Ltd., establishing a separate high-grossing company, retaining the name Wynn Interactive Limited. Wynn Resorts will act as shareholder, keeping 58% of the new brand.
The value of the newly formed enterprise is expected to sit at $3,2 billion dollars, with $640 billion dollars stemming from Austerlitz Acquisition’s cash proceeds. The total represents 4,5 times the projected revenue of Wynn Interactive for 2023.
Unsurprisingly, William P. Foley II, founder of Austerlitz Acquisition, highly content with the deal, stated the following according to gamblinginsider.com: “I am excited to be a partner and future owner of Wynn Interactive. Wynn is the premier brand in gaming and luxury resorts and we believe our investment in Wynn Interactive fits the criteria for the type of company and management team with which we like to co-invest.“
The land-based provider Wynn Resorts had recently reported an upwards curve with the Covid-19 pandemic making steady progress towards the end, as was reported by SiGMA News.
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