Wynn Interactive and Austerlitz Acquisition decided to terminate the $3.2bn SPAC deal.

Wynn Interactive, an online gaming firm, and Austerlitz Acquisition, a special purposes acquisition company, decided to terminate the $3.2bn SPAC deal. “With our continued roll out of product features and planned new state launches, including New York, we remain excited about WynnBET’s future. As we discussed on the Wynn Resorts third quarter earnings conference call earlier this week, in light of elevated marketing and promotional spend in the sports betting industry, we are pivoting our user acquisition efforts to a more targeted ROI-focused strategy. In so doing, we expect the capital intensity of the business to decline meaningfully beginning in the first quarter of 2022. WynnBET’s best days lie ahead of us,” Craig Billings, Wynn CEO.