Wynn Resorts to Sell its Online Sports Betting Business at a Steep Discount

Wynn Resorts to Sell its Online Sports Betting Business at a Steep Discount

Las Vegas-based casino giant Wynn Resorts may be in the works of selling its online sports betting unit Wynn Interactive at a very steep discount of $500 million. The reason behind this potential move is due to the number of losses, taxes, and promotion costs to stay competitive in the industry.

PlayUp Bolsters U.S. Exec Team

PlayUp Bolsters U.S. Exec Team

PlayUp has secured an investment of USD $35.0 million from Sam Bankman Fried’s crypto exchange, FTX, in Q4 2021. This financing round will be used primarily to accelerate PlayUp’s U.S. market access.

In addition to their investment in PlayUp, FTX has been actively investing in partnerships and endorsement deals in the sports and esports arena over the past twelve months.

SharpLink Gaming Acquires FourCubed
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SharpLink Gaming Acquires FourCubed

SharpLink has acquired certain assets of FourCubed for total consideration of $8.15 million, which consists of $6.5 million in cash and the issuance of approximately 600,000 restricted ordinary shares of SharpLink. The transaction also provides for an earn-out payment of up to approximately 600,000 additional restricted ordinary shares based on the acquired business achieving specific agreed-upon performance benchmarks.