Wynn Resorts' Online Gambling Platform Is Going Public via SPAC
Wynn Resorts (NASDAQ: WYNN) announced Monday it was jumping into the online gambling spinoff game by merging its online betting platform Wynn Interactive with Austerlitz Acquisition Corp I (NYSE: AUS), a special purpose acquisition company, or SPAC.
The casino operator will retain 58% ownership of the gambling platform and will have 70% of the voting rights, so it will be a fully controlled subsidiary of Wynn Resorts.
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Source Fool.com
