May 11, 2021
American casino operator Wynn Resorts Limited has reportedly announced plans to spin off its Wynn Interactive Limited subsidiary into a newly-listed entity established in partnership with Austerlitz Acquisition Corporation.
According to a Monday report from the Las Vegas Review-Journal newspaper, the firm made the announcement during a conference call to discuss its first-quarter financial results. The Las Vegas-headquartered company purportedly revealed that the move for the enterprise behind the WynnBet mobile sportsbetting app is destined to bring in some $640 million in cash that will help it to fund operations and growth initiatives.
Beneficial backer:
Wynn Resorts Limited reportedly explained that