Financier Bill Foley. His Austerlitz Acquisition is merging with Wynn Interactive. (Image:
Bloomberg)
In a deal with estimated post-transaction enterprise value of $3.2 billion, Wynn Interactive will merge with the blank-check company, eventually becoming a standalone entity listed on the Nasdaq Stock Exchange under “WBET.” Austerlitz is controlled by Las Vegas Golden Nights owner Bill Foley.
Wynn Interactive currently has market access to 15 states covering approximately 51 percent of the US population, and expects to gain access to additional states in the near-term, resulting in its footprint covering approximately 77 percent of the US population,” according to a statement issued by the Encore operator.
Paysafe Limited: Paysafe Reports First Quarter 2021 Results and Reaffirms 2021 Outlook
First Quarter 2021 Financial Highlights
(metrics compared to first quarter of 2020)
Revenue of $377.4 million, increased 5%
Net loss attributable to the Company of $49.1 million, compared to net loss of $51.1 million
Total Payment Volume of $27.7 billion, increased 8%
Adjusted EBITDA of $113.2 million, approximately flat
Reaffirmed 2021 full year outlook
Philip McHugh, CEO of Paysafe, stated, As we embark on our next chapter as a public company, we are pleased to deliver solid financial results in the first quarter, including continued strength from online and e-commerce volumes. Alongside this, we made excellent progress on our strategic initiatives across North American iGaming and emerging eCommerce verticals, while achieving milestones to further scale our platform and unlock value. Looking ahead, with our great market positions and unique, two-sided network, we believe that Pay
Illustration by Raj Verma
Dearth of investment options drives people to hunt for newer opportunities. This is what opened the gate to US equities for Indian investors. Now, investors have found another route to take exposure to fresh global themes and new-age tech plays - SPACs, or special purpose acquisition companies, which have become quite a rage in developed markets.
SPACs are basically blank cheque companies that get listed on US stock exchanges with an objective of acquiring private companies. They are supposed to acquire their target within two years. If you hold SPAC shares until the merger, you get a proportional stake in the merged entity. This gives investors early access to new-age companies, which are finding this a convenient way to get listed on US exchanges, avoiding the time-consuming initial public offer (IPO) process.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Alight Solutions posts analyst day materials, provides update on business
April 15, 2021 GMT
LINCOLNSHIRE, Ill. (BUSINESS WIRE) Apr 15, 2021
Alight Solutions (the “Company”), a leading cloud-based provider of integrated digital human capital and business solutions, on April 13, 2021 held an analyst day and provided an update on its business in connection with its planned business combination with Foley Trasimene Acquisition Corp. (NYSE: WPF, WPF WS).
The Company has posted the analyst day presentation and video, which provide an overview of the Company’s business, growth strategy and financial profile, along with an update on strategic initiatives, including Alight’s technology-led transformation, to its website. As part of the presentation, the Company announced that total bookings on a total contract value (TCV) basis increased 15% to $327 million and business process as a se