February 25, 2021 Sports Betting, eSports, Online

Ex-MGM CEO Jim Murren forms second SPAC; will target iGaming and sports betting

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Former MGM Resorts International CEO Jim Murren has filed registration for a second SPAC that would target entertainment, casino gaming, sports betting and iGaming.

Murren and partners filed a registration statement with the SEC under Acies Acquisition Corp. II, a special purpose acquisition company, or what is commonly referred to as a blank check company.

“We are focused on identifying a business combination target within the live, location-based and mobile experiential entertainment industries,” the SEC registration statement says. “Specific sectors that we will target span live events, family entertainment, casino gaming, destination hospitality, sports, sports betting and iGaming,” “We will pursue both consumer-facing operators as well as the business-to-business platforms that support them. We are predominantly focused on the U.S. however our search may expand to international markets.”

The Acies II board includes Zach Leonsis, son of Monumental Sports owner Ted Leonsis, who also owns the Washington Wizards and Capitals along with Fenway Sports (Red Sox) CEO Sam Kennedy. Curtis Polk, Vice Chairman of Hornets Sports & Entertainment and an advisor to Charlotte Hornets owner Michael Jordan, will serve as an adviser.

Other notable gaming SPAC deals include DraftKings’ merger with Diamond Eagle Acquisition Group and Tilman Fertitta-backed Lancadia Holdings II’s acquisition of Golden Nugget Online Gaming.

Murren’s first SPAC, Acies Acquisition Corp. acquired Las Vegas-based social gaming provider PlayStudios earlier this month.

SPACs are considered an accelerated path to a public listing.

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