The company has long held the exclusive social gaming and mobile platform rights to casino properties operated by MGM Resorts. It’s a global market with far less friction in terms of the ability to acquire customers.” Murren and his team may have landed late, but his personal and professional relationship with Pascal and his first-hand knowledge of PlayStudios changed the course.
“ is so much larger than the casino gaming market. “We got ourselves inserted into a very competitive process,” Murren said. Social gaming is one of three gaming industry niche sectors, along with live entertainment and online gaming/sports betting, where he believes there is exceptional growth potential.
Murren, the former CEO of MGM Resorts International, considered PlayStudios a potential candidate for Acies Acquisition Corp., a SPAC he created with two former Morgan Stanley executives. SPACs, which are also known as blank-check companies, are publicly traded shell vehicles used to take another company public. Morgan and LionTree Advisors, had identified several candidates. PlayStudios CEO Andrew Pascal was well into the process last fall of taking the Las Vegas-based social gaming provider public through a merger with a special purpose acquisition company (SPAC). Arriving late to the party oftentimes has benefits.
