Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Wynn Resorts looks to sell sports betting business, and UAE approves regulatory framework for SPACs
Wynn Resorts Looks to Sell Online Sports Betting Biz at Steep Discount
Wynn Resorts (NASDAQ:WYNN) is looking to unload its online sports-betting business at a steep discount as the fledgling niche faces painful losses from stiff taxes and costly promotions needed to lure customers, according to The Post.
Just a few months ago, Wynn said it was scrapping plans it disclosed in May to merge Wynn Interactive with Bill Foley’s Austerlitz Acquisition Corporation (NYSE:AUS).
The Las Vegas-based casino giant is quietly shopping its Wynn Interactive unit, operator of the WynnBet online gaming app, and has slashed the asking price to $500 million after floating a $3 billion valuation less than a year ago.
READUAE Regulator Approves Gulf’s First SPAC Framework
The United Arab Emirates’ Securities and Commodities Authority (SCA) has approved a regulatory framework for SPACs, the first in the Gulf, the Abu Dhabi Media Office said on Monday.
The regulation also allows sponsors abroad to apply for approval to list their SPACs on the Abu Dhabi Securities Exchange (ADX), the office said.
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AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...
Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing...