Wynn Resorts Will Unleash Online Gaming Into a Public Company
Photo Credit: Wynn Resorts is putting more chips into its online gaming platform with a merger valuing the company at $3.2 billion. Flickr / Supermac1961
Skift Take
Casino companies like Wynn Resorts accelerating their push into online gaming isn't a sign sprawling gaming resorts are endangered species. This is about reaching customers who aren't the type to spend a few days in Las Vegas or Macau.
Wynn Resorts is the latest casino company to signal the future gambling capital of the world isn’t Macau or Las Vegas — it’s your laptop or smartphone.
The gaming company behind multibillion-dollar resorts in Las Vegas, Macau, and Boston this week announced plans to take its Wynn Interactive online gaming platform public via a special purpose acquisition company, or SPAC. Wynn Interactive will merge with the blank-check company Austerlitz Acquisition Corp., with the combined company having a $3.2 billion valuation.
The Wynn deal follows a string of similar online betting platforms going public via SPAC like DraftKings and Golden Nugget Online Gaming Inc. It’s also the latest sign traditional casino operators see online gaming as a leading source of future revenue.
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