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WynnBet expands market access to 7 US states


Wynn Resorts’ online gaming division, WynnBet, has increased its market access to include seven US states following a multi-year market access partnership with Elite Casino Resorts in Iowa.

The new partnership will give sports bettors in the state access to WynnBet’s mobile sports betting platform, licensed by Elite’s Riverside Casino and Golf Resort.

WynnBet is currently available in New Jersey and Colorado, and will soon be made available in Michigan. In addition, the operator has secured market access in Indiana, Nevada, Massachusetts, and now Iowa, and has submitted license applications in Tennessee and Virginia.

It said in order to meet the demands of the fast-moving igaming industry, it is also fast-tracking discussions regarding market access in more than a dozen other large jurisdictions yet to be announced.

The company said its combined secured and prospective market access would allow it to reach approximately two-thirds of addressable online bettors in the United States.

Following its acquisition of a 22.5% stake in online operator BetBull, Wynn gained access to its digital wagering capabilities and technology.

The operator also holds agreements with Scientific Games and GAN, allowing it to use the suppliers’ products in different jurisdictions. Its 10-year partnership with GAN saw it agree to use its online betting and igaming platform for its launch in Michigan.

Results published in November showed that Wynn Resorts suffered a 77.5% year-on-year decline in revenue to $370.5m, while a large tax provision saw the operator post an $831.5m net loss, in the third quarter of 2020.

All revenue streams including gaming, accommodation, food and beverage, entertainment and retail were down over 70%.

Wynn Palace in Macau, usually the operator’s main source of revenue, brought in just $15.7m, down 97.4% year-on-year as the Macau market faced the challenge of global travel restrictions in 2020.