Wynn Resorts into the Sports Wagering Mix with Wynn Sports Interactive
- Wynn Sports Interactive hopes to quickly catch-up within the “online wagering only” sector
- New partnerships with BetBull and Evolution signal an aggressive move to compete
- Operating in Nevada and New Jersey, Tennessee, Virginia & other US states up next
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While some other prominent name gaming companies broke a bit quicker out of the gate, Wynn Resorts hopes to catch-up quickly targeting the online sports and online casino sector.
Last week Wynn Resorts announced its partnership with UK-based BetBull in its third-quarter earnings call. In the memo, they detailed how it intends to nearly double its US market access for gaming by the end of 2021. BetBull is a “product-focused online gaming company” that combines free-to-play games with a social component that allows bettors to gather in chat rooms and view a game together.
The partnership plan began in motion last October when Wynn Interactive acquired UK betting firm BetBull. Wynn purchased a 71% stake in BetBull, as the two companies have been working together within the sports being industry since 2018. Wynn CEO Matt Maddox believed BetBull was a “cultural fit” for Wynn and became the perfect sports betting partner.
In total Wynn Resorts hopes to invest at least $80 million into the US market. WynnBET is already operating in Nevada and New Jersey but is looking to expand shortly into Tennessee and Virginia. It has been reported that WynnBET has been licensed to be approved entering the Virginia market upon the state beginning operation.
Major Announcements for WynnBET
The new partnership will gather all of Wynn’s online digital business. Under the agreement, iGaming will remain as BetBull in the UK while the mobile app will be named WynnBET in the US. The cooperative deal also owns Wynn Slots and former BetBull shareholders will receive a 29% stake in the agreement.
In other news announced last month, Wynn Sports Interactive announced an agreement to partner with Evolution to offer live casino content and services for the US market. WSI’s partnership means it will offer Evolution’s live games first in New Jersey with more US states to follow soon.
Evolution’s live games include Roulette, Blackjack, Infinite Blackjack, Baccarat, Three Card Poker, Ultimate Texas Hold’em, and the Dream Catcher money wheel game show. The company also features other game show-style options such as Monopoly, Deal or No Deal, and Crazy Time.
Robert Amerine, VP of corporate development at Wynn Resorts, disclosed in a recent news release:
Wynn is a brand synonymous with the casino. Our clear goal is to ensure that our players have access to the world’s best online live dealer and RNG table games. Working with Evolution we are confident we are delivering the best possible quality and choice to our players.
Next Steps for WynnBET
Approaching Virginia, WSI and WynnBET will be entering the starting gates on even footing with more established sportsbooks although the Virginia State Lottery has not yet officially announced their names. It is expected familiar names like DraftKings Sportsbook and FanDuel will join them with a target date set sometime in the first quarter of 2021.
In Tennessee, their license to enter is still under review for consideration in the new sports wagering state that is currently unique in restricting wagering to online betting only.
While being positive awaiting confirmation, WynnBET has partnered with Martinsville Speedway and Richmond Raceway “in pursuit of licensure” in the state. Virginia law allows for pro sports venues to apply for sports betting licenses. It is possible Wynn Sports Interactive could be the first to gain direct access in the state through a sporting venue.
WSI is also planning a Michigan launch as part of the agreement between GAN and the Sault Ste. Marie Tribe of Chippewa Indians, who operate five casinos under the Kewadin Casinos brand in Michigan.
GAN is a business-to-business supplier of internet gambling software-as-a-service solutions to the US land-based casino industry. They expect to launch Wynn online in Michigan alongside the first regulated online gambling operators in November, subject to all regulatory approval.
Wynn Interactive has aggressive plans to compete within the iGaming space over the next year. Corporate reports announce ambitions targeting sports and online gaming efforts in several new US states within the online sector only including Georgia, New York, Ohio, Pennsylvania, and California.
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Larry Gibbs is both a seasoned journalist and a respected online gaming industry consultant. His wry commentary & sharp analysis have appeared in numerous top gaming and sports wagering publications. He has also served as Vice President of US Gaming Services, a marketing research organization with 15 years of experience in US online wagering. He has spoken at noted gaming industry conferences including G2E, GiGSE, and NCLGS.
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