Austerlitz Acquisition Corporation has signed an agreement with Wynn Resorts to acquire Wynn Interactive Limited and establish a separate high-grossing company, retaining the name Wynn Interactive Limited.
As per the agreement, Wynn Resorts will act as shareholder, keeping 58% of the new brand. The value of the newly formed enterprise is estimated to be around $3.2 billion, with $640 million stemming from Austerlitz Acquisition’s cash proceeds. The total estimate represents 4.5 times the projected revenue of Wynn Interactive for 2023.
In an interview for gamblinginsider, the founder of Austerlitz Acquisition said that he is excited about partnering with Wynn Interactive and that Wynn is the premier brand in gaming and luxury resorts.
“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,“ said William P. Foley II.
A Mobile Leader
Wynn Interactive is the digital company created by high-end providers of guest experiences. The company is a leader in mobile gaming, with WynnBet being designed for the community of casino and sports bettors, WynnSlots offering a wide variety of slot games and BetBull being the company’s sports betting platform for the UK market.
About the Corporation
Austerlitz Acquisition Corporation was founded by William P. Foley II, who leads Trasimene Capital Management. The company focuses on finding a prospective target business in financial technology or information and business services which acts as an essential utility to industries that are core to the economy. The corporation is regulated by the US Security and Exchange Commission and incorporated in the state of the Cayman Islands.
Source:
“Wynn Interactive and Austerlitz Acquisition create independent brandument”, sigma.com.mt, July 23, 2021.
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