{"id":165288,"date":"2021-02-24T09:14:22","date_gmt":"2021-02-24T17:14:22","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=165288"},"modified":"2021-02-24T12:54:13","modified_gmt":"2021-02-24T20:54:13","slug":"jim-murren-rolling-out-second-spac-eyes-gaming-deals","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/jim-murren-rolling-out-second-spac-eyes-gaming-deals\/","title":{"rendered":"Murren Back in SPAC Lab, Files Plans for Acies Acquisition II"},"content":{"rendered":"

Fresh off success with his first special purpose acquisition company (SPAC), former MGM Resorts International Chairman and CEO Jim Murren is lining up a second blank-check firm.<\/p>\n

\"Murren
Former MGM CEO Jim Murren seen here. He’s leading another blank-check company hunting for gaming deals. (Image: Las Vegas Review-Journal<\/em>)<\/figcaption><\/figure>\n

A Feb. 23 S-1 filing with the Securities and Exchange Commission (SEC) reveals plans for Acies Acquisition II. Acies is the name of the first SPAC<\/a> created by Murren and his partners. The sequel is planning an initial public offering (IPO) valued at $250 million (25 million units at $10 apiece), according to the regulatory document. The units will trade on the Nasdaq under the ticker \u201cATWOU.\u201d<\/p>\n

\n

As is the case with all new blank-check filings, Acies II is careful to note that it hasn’t yet identified a merger partner and that such a deal may not materialize. SPACs usually have two years to execute a deal or face forced liquidation. It is, however, clear where the new special purpose vehicle will focus its efforts to locate a partner.<\/p>\n<\/div>\n

“We are focused on identifying a business combination target within the live, location-based, and mobile experiential entertainment industries,\u201d according to the S-1. \u201cSpecific 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 US, however, our search may expand to international markets.\u201d<\/p>\n

Zach Leonsis of Monumental Sports (owner of the Washington Wizards and Capitals), and Red Sox and Fenway Sports CEO Sam Kennedy join Murren on the Acies II board. They were on the board of the original Acies. The new SPAC will also be advised by Charlotte Hornets managing partner Curtis Polk who also runs the personal finances of team owner and NBA legend Michael Jordan.<\/p>\n

Acies Looking for Successful Sequel<\/h2>\n

Acies Acquisition Corp. (NASDAQ:ACAC) was the first SPAC Murren was directly involved with following his departure from MGM and it’s proving to be a fruitful endeavor.<\/p>\n

\n

Earlier this month, the blank-check company said it’s merging with social casino<\/a> developer Playstudios, Inc. in a transaction valuing the target at $1.1 billion. Murren and his Acies partners didn’t have to look far to get that deal done because MGM is one of Playstudios’ backers.<\/p>\n<\/div>\n

With mobile gaming and sports wagering booming, small and mid-sized companies in those industries need capital and are looking to go public in an efficient manner. SPACs can provide these outlets.<\/strong><\/p>\n

\u201cAccording to Eilers & Krejcik, the emerging US real-money wagering industry is expected to become a $40 billion industry\u2014assuming legalization in all 50 states\u2014from essentially zero three years ago,” Acies II said in its SEC filing.<\/p>\n

Fierce Competition for Deals<\/h2>\n

Dozens of blank-check companies mention sports-related businesses<\/a>, betting, and otherwise, as potential targets. The number of SPACs looking for other gaming assets, be it iGaming, social casinos, and more, is exponentially higher.<\/p>\n

That says Acies II will face plenty of competition should it opt for another deal in the gaming arena.<\/p>\n

For investors, the encouraging sign is that a Murren-led SPAC already executed a deal and did so rather quickly, perhaps indicating Aciess II shareholders won’t be waiting long for a transaction to be announced.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fresh off success with his first special purpose acquisition company (SPAC), former MGM Resorts International Chairman and CEO Jim Murren is lining up a second blank-check firm. A Feb. 23 S-1 filing with the Securities and Exchange Commission (SEC) reveals plans for Acies Acquisition II. Acies is the name of the first SPAC created by […]<\/p>\n","protected":false},"author":46,"featured_media":165290,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\nJim Murren Rolling Out Second SPAC, Eyes Gaming Deals<\/title>\n<meta name=\"description\" content=\"Jim Murren and partners are planning another SPAC that could search for gaming and sports betting deals.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jim Murren Rolling Out Second SPAC, Eyes Gaming Deals\" \/>\n<meta property=\"og:description\" content=\"Jim Murren and partners are planning another SPAC that could search for gaming and sports betting deals.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/jim-murren-rolling-out-second-spac-eyes-gaming-deals\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-24T17:14:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-02-24T20:54:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/02\/jm.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/jim-murren-rolling-out-second-spac-eyes-gaming-deals\/\",\"url\":\"https:\/\/www.casino.org\/news\/jim-murren-rolling-out-second-spac-eyes-gaming-deals\/\",\"name\":\"Jim Murren Rolling Out Second SPAC, Eyes Gaming Deals\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/jim-murren-rolling-out-second-spac-eyes-gaming-deals\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/jim-murren-rolling-out-second-spac-eyes-gaming-deals\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/02\/jm.jpg\",\"datePublished\":\"2021-02-24T17:14:22+00:00\",\"dateModified\":\"2021-02-24T20:54:13+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Jim Murren and partners are planning another SPAC that could search for gaming and sports betting deals.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/jim-murren-rolling-out-second-spac-eyes-gaming-deals\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/jim-murren-rolling-out-second-spac-eyes-gaming-deals\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/jim-murren-rolling-out-second-spac-eyes-gaming-deals\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/02\/jm.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/02\/jm.jpg\",\"width\":1200,\"height\":800,\"caption\":\"Former MGM CEO Jim Murren. 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