Wynn CEO remains committed to online division
Wynn Resorts CEO Craig Billings has said the business is still committed to online gaming – despite earlier rumours of a discount sale – in the earnings call for its Q1 2022 results.
The statement came after Wynn reported revenue of $953.3m (£772.5m/€903.7m) for the first quarter, a rise of 29.4% year-on-year.
Wynn Interactive generated $727m in turnover.
The future of this interactive division had been in doubt as in November 2021 Wynn and Austerlitz Acquisition Corporation I cancelled a deal that would have seen Wynn Interactive spin off and merge with Austerlitz. The joint business then would have listed on the NASDAQ stock exchange.
The business said that this was due to the fact that it no longer planned to go ahead with the spend-heavy strategy to promote the online product that it had initially planned.
Earlier this year, it was rumoured that Wynn was planning a cut-price sale of its Interactive division for an estimated $500m.
When asked about the company’s online aims a..