The renowned casino operator, Wynn Resorts struck a USA-based sports betting partnership with BetBull LTD, a Malta-based and UK licensed sports site. The reason why Wynn Resorts chose to be part of this deal was to pursue the sports gambling opportunities that are evolving in the US gambling industry.
As part of the betting partnership, Wynn Resorts will acquire a 22.5% ownership stake in the Malta-based sports betting company, in due course as one of the stipulated closing conditions of the deal. This is all that the two companies have disclosed to media, so far.
Wynn, BetBull Betting Partnership – Details
At the moment, Wynn’s USA operations are only based in Nevada. This is where the casino operates Encore Las Vegas and Wynn Las Vegas, and both already feature sports betting. The casino giant is also in the process of creating its NZD$2.4 billion Encore Boston Harbor project located in Massachusetts. Here, gambling is not yet legal, and the regulators are yet to decide whether to let Wynn Resorts operate there or not.
However, the casino operator has not laid down its roots to operate in any other states. This is partly because of Steve Wynn, the former CEO’s determination that every casino operation featuring his name must be dripping gold, marble and other accoutrements. This would indirectly inform the general players that ‘you cannot afford to gamble here’.
On the other side of the coin, BetBull and Wynn are relying on the Wynn brand’s ability to go beyond state borders. The new partners are also hoping that the brand will not remind players of the alleged sexual harassment complaints that resulted in Steve Wynn resigning sometime last year.
Wynn Resorts has just joined the sports betting party in the US gambling market as other competitors like MGM Resorts and Caesars Entertainment are already operating in that market. Rival casinos have long been busy with partnerships to ensure that they are well-positioned to make the best out of the sports betting market in the United States.