Wynn Interactive to spin off and trade on Nasdaq with SPAC merger
| By Marese O'Hagan
Wynn Interactive, an online-focused subsidiary of Wynn Resorts, is to merge with special purpose acquisition company (SPAC) Austerlitz Acquisition Corporation I (Austerlitz I) and list on the Nasdaq stock exchange.
The combined company is estimated to have a post-transaction value of $3.2bn (£22.6bn/€26.3bn), a total 4.5 times the revenue projected by Wynn Interactive by 2023. Austerlitz will help fund the business with the $640m in cash that it currently holds.
Post-closing, the combined company will act under Wynn Interactive and will list its shares on the stock exchange under the ticker symbol WBET.
Read more of iGB North America.