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home / news releases / WYNN - Wynn Resorts to separate online gaming business in deal with Austerlitz

WYNN - Wynn Resorts to separate online gaming business in deal with Austerlitz

Wynn Resorts Limited
Wynn Resorts (WYNN) reports operating revenue fell 24% to $726M in Q1. Adjusted property EBITDA for the quarter came in at $58.9M vs. $823M consensus. The casino operator also unveiled plans for Wynn Interactive to become an independent company through a combination with Austerlitz Acquisition Corporation (AUS). Current shareholders of Wynn Interactive will retain approximately 79% of the combined entity, including 58% to be held by Wynn Resorts. “We are confident that this transaction will unlock the tremendous potential of Wynn Interactive to further accelerate growth and enable the business to capture the massive opportunity in North America," says Wynn CEO Matt Maddox. Shares of Wynn are down 2.21% in AH trading. AU +3.95%. Earlier today: Macau gaming revenue bounces during Labor Week, but analysts wary.

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Wynn Resorts to separate online gaming business in deal with Austerlitz
Stock Information
Company Name: Wynn Resorts Limited
Stock Symbol: WYNN
Market: NASDAQ
Website: wynnresorts.com
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