AUS - Wynn Interactive could shine as a pure play sports betting/iGaming stock

May, 11 2021 12:04 PM Austerlitz Acquisition Corporation I Class A

Investors in the sports betting and iGaming sector will soon have a pure play to trade when Wynn Interactive merges with special-purpose acquisition company Austerlitz Acquisition Corporation (AUS). Austerlitz is run by Bill Foley, who also owns the Vegas Golden Knights hockey team. Wynn Interactive will trade under the new ticker WBET after it is freed up from Wynn Resorts ([[WYNN]] +1.5%). UBS' breakdown on WBET: "Overall Wynn Interactive has market access to 15 states covering 51% of the U.S. population, and is targeting to gain access to 77% of U.S. population near-term. Wynn cites TAM of $45B of igaming and sports betting market in North America, similar to DKNG and BetMGM, with Wynn interactive targeting 10-15% long term market share and 25-30% EBITDA margins. WynnBET is now live in 6 states with over $100M run rate gross gaming revenue. After the transaction completes, Wynn anticipates the combined company to

For further details see:

Wynn Interactive could shine as a pure play sports betting/iGaming stock

Company Name:	Austerlitz Acquisition Corporation I Class A
Stock Symbol:	AUS
Market:	NYSE

Twitter