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President of Wynn Resorts Billings appointed Chief Financial Officer of Wynn Interactive

American operator of games and hospitality Wynn Resorts announced in a filing released on Friday that its president Craig Billings resigned from the position in force May 24, 2021. Billings, however, remained in his other position, the company's chief financial officer.

Internal change

Craig Billings was appointed financial director in the online gaming division of Wynn Resorts Wynn Interactive , which runs the company's sports betting and iGaming business.

Currently, the interactive games division runs sports betting and online casino games in the US and UK, as the company provides market access to the 15 US States will reach around 51% population. Future plans at Wynn Interactive include more market access deals to reach around 77% US population.

Craig Billings who joined Wynn Resorts in 2017, he also has experience with casino equipment suppliers Aristocrat Leisure and NYX Gaming Group , a company that was acquired by Scientific Games in 2018, and the Vice President of Investment Banking Goldman Sachs in New York and London, dealing with the gaming industry.

First nomination to a senior post after the merger

This significant change to the group came after the recent announcement of the Wynn Interactive and the SPV's merger Austerlitz Acquisition Corporation , under which the combined company will retain the Wynn Interactive name and go public NASDAQ .

Final consent to establish a company with en. Value of the company amounting to $ 3.2 billion has not yet been approved by SPAC shareholders. After closing, the combined entity is expected to have approx 640 million in cash on its balance sheet to help finance existing operations and future development initiatives.

Craig Billings also received 10 , 000 interests in the combined entity as part of his incentive plan as an elderly person in the new company. As part of an agreement between Wynn Resorts and Wynn Interactive, the online gaming company will reimburse Billing's former employer for a percentage of its salary.

Billings, who has been reelected Executive Director of Wynn Resorts subsidiary Wynn Macau, will have no impact on compensation as a result of a change in his position, Wynn noted in the filing, revealing that he would remain eligible for an annual cash bonus as per the company's compensation plan .

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