WynnBET Announces Exit From Massachusetts Sports Betting Market

After requesting to exit the market last month, WynnBET has announced the closing of its online sportsbook in the Bay State. The Las Vegas-based operator sent an e-mail to all Massachusetts customers on Monday morning informing them that the online sportsbook will no longer accept bets. All customers will have 30 days to withdraw their funds from their accounts before the platform goes offline.

WynnBET went to the Massachusetts Gaming Commission at the beginning of February to request an exit from the market. They did not announce a date for their exit, making Monday’s announcement a surprise.

While the WynnBET online sportsbook will no longer be available, Wynn’s retail sportsbook at Encore Boston Harbor will remain. 

“This will have no impact on the WynnBET Sportsbook at Encore Boston Harbor, nor will there be interruption or change in sportsbook operations,” stated WynnBET Assistant VP Seth Medvin.

All reward points accrued using WynnBET will still be available for customers to use at Wynn properties in Boston and Las Vegas.

Penn Entertainment Purchases WynnBET’s New York License

In addition to its exit from Massachusetts, WynnBet also announced that it has sold its New York sports betting license to Penn Entertainment for $25 million. That will give ESPN Bet, owned by Penn, access to one of the largest markets in the country.

New York only allows for nine operators, making the sale of licenses incredibly important for ESPN Bet and Penn.

WynnBet Will Only Be Available in Two States

The sale also leaves WynnBet with just two remaining markets: Michigan and Arizona. 

The platform has now been pulled out of ten states, but Wynn continues to assert that they don’t want to exit the US market fully. However, they have struggled to capture market share in a field dominated by FanDuel and DraftKings.