Jim Murren Former CEO MGM launches second online gambling focused corporation

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  Jim 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 “ATWOU.”

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.

“We are focused on identifying a business combination target within the live, location-based, and mobile experiential entertainment industries,” according to the S-1. “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 US, however, our search may expand to international markets.”

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.

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.

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