NASCAR and Wynn Resorts Announce National Multi-Year Sports Betting Partnership
NASCAR and WynnBET, part of Wynn Resorts, have signed a multi-year sports betting partnership. WynnBET will create unique betting experiences for NASCAR fans across the U.S. and aims to offer a range of betting options during the NASCAR season. As part of its expansion, WynnBET is applying to operate legally in Virginia, where sports betting has been legalized. The partnership will establish WynnBET as the Official Online Sportsbook for Martinsville Speedway and Richmond Raceway, enhancing fan engagement and potentially increasing WynnBET's customer base and revenue.
- Multi-year partnership enhances WynnBET's brand visibility and engagement with NASCAR fans.
- WynnBET's entry into Virginia could lead to increased market share following the state's legalization of sports betting.
- Offerings include a variety of betting options, which may attract new and existing customers.
- Pending regulatory approval in Virginia could delay operations.
- Competition from other established betting operators in the market may limit WynnBET's growth.
MARTINSVILLE, Va., Oct. 30, 2020 /PRNewswire/ -- NASCAR and WynnBET, the digital gaming division of Wynn Resorts Ltd. that is responsible for Wynn's mobile sportsbook and casino app, announced today a multi-year national sports betting partnership. As an Authorized Gaming Operator of NASCAR, WynnBET will collaborate with NASCAR to create and promote engaging sports betting experiences for racing fans across the United States.
"We're excited to partner with such a deeply experienced and innovative team to drive engagement and expand our sports betting offerings," said Tim Clark, SVP and Chief Digital Officer, NASCAR. "Wynn is a trusted and iconic brand and our new relationship advances NASCAR's position in the rapidly evolving gaming space while delivering fans with yet another live-in race engagement tool."
WynnBET is launching a nationally scaled sports betting business that is built upon the strength of its best -in-class brand offering with an innovative approach to sports betting products. WynnBET offers unique products comprised of one-of-a-kind experiences, unique social betting mechanics and a high-quality user experience evocative of the Wynn brand to drive engagement and to attract both new and existing loyal customers.
As the historic 2020 NASCAR season reaches its penultimate race in Martinsville, Va. this weekend, WynnBET is formally submitting an application to become a legal gaming operator in the state of Virginia. Earlier this year, the Virginia state legislature passed a bill that will legalize sports betting and could grant up to 12 online sports betting licenses by the end of the year.
"Like Wynn, NASCAR is an iconic brand," said Craig Billings, President of Wynn Resorts. "Together, Wynn Interactive and NASCAR will provide sports bettors in Virginia with one-of-a-kind experiences, both digitally and at NASCAR facilities in the Commonwealth."
NASCAR has deep-rooted history in Virginia, with two of its most iconic tracks, Richmond Raceway and Martinsville Speedway, located in the state. Pending Wynn's approval within Virginia, WynnBET will become the Official Online Sportsbook of Martinsville Speedway and Richmond Raceway, resulting in the construction of WynnBET Lounges at each venue. Martinsville Speedway and Richmond Raceway will combine to host four NASCAR Cup Series races per year, the most of any state in the country.
"We take great pride in providing fans with an unforgettable experience at our racetrack and WynnBET is best-in-class in delivering a premium experience to its customers," said Clay Campbell, President Martinsville Speedway. "We are excited about what this new venture could mean for the Commonwealth of Virginia and for our loyal fans visiting our track in the years to come."
"Richmond Raceway and WynnBET have a number of shared attributes. We are both strong, trustworthy brands that believe deeply in customer hospitality and creating incredible experiences," said Dennis Bickmeier, President, Richmond Raceway. "We wish the Wynn well in their future endeavors here in the great Commonwealth of Virginia and look forward to years of successful partnership."
WynnBET will expand the portfolio of bet types offered on its mobile app throughout the NASCAR season, including pre-race and in-play bets. Bet types currently being explored include top-finishing drivers, driver matchups, stage winners and bets tied to the number of the winning car (over/under), among others. Beginning in 2021, WynnBET will offer live, in-play betting through a partnership with Genius Sports and live betting product, Betgenius, as the sport continues to strengthen its position around in-play sports betting.
NASCAR has experienced across-the-board growth in its sports betting handle and has added blue chip partners in the space in the last year including Penn National Gaming, BetMGM and IMG Arena.
About NASCAR
The National Association for Stock Car Auto Racing, LLC (NASCAR) is the sanctioning body for the No. 1 form of motorsports in the United States and owner of 16 of the nation's major motorsports entertainment facilities. NASCAR® consists of three national series (NASCAR Cup Series™, NASCAR Xfinity Series™, and NASCAR Gander RV & Outdoors Truck Series™), four regional series (ARCA Menards Series, ARCA Menards Series East & West and the NASCAR Whelen Modified Tour), one local grassroots series and three international series. The International Motor Sports Association™ (IMSA®) governs the IMSA WeatherTech SportsCar Championship™, the premier U.S. sports car series. NASCAR also owns Motor Racing Network, Racing Electronics, Americrown Service and ONE DAYTONA. Based in Daytona Beach, Florida, with offices in eight cities across North America, NASCAR sanctions more than 1,200 races in more than 30 U.S. states, Canada, Mexico and Europe. For more information visit www.NASCAR.com and www.IMSA.com, and follow NASCAR on Facebook, Twitter, Instagram, and Snapchat ('NASCAR').
About Wynn Resorts
Wynn Resorts Limited (Nasdaq: WYNN) is traded on the Nasdaq Global Select Market under the ticker symbol WYNN and is part of the S&P 500 Index. Wynn Resorts owns and operates Wynn Las Vegas (wynnlasvega.com) Encore Boston Harbor (encorebostonharbor.com), Wynn Macau (wynnmacau.com), and Wynn Palace, Coati (wynnpalace.com).
Wynn and Encore Las Vegas feature two luxury hotel towers with a total of 4,748 spacious hotel rooms, suites and villas, approximately 194,000 square feet of casino space, 22 dining experiences featuring signature chefs and 11 bars, two award-winning spas, approximately 560,000 rentable square feet of meeting and convention space, approximately 160,000 square feet of retail space as well as two showrooms, two nightclubs, a beach club and recreation and leisure facilities. Wynn Las Vegas recently unveiled the new Wynn Golf Club and 18-hole, 129-acre championship golf course, and in February 2020 debuted a 430,000-square-foot meeting and convention space expansion powered by 100 percent renewable energy.
Encore Boston Harbor is a luxury resort destination featuring a 210,000 square foot casino, 671 hotel rooms, an ultra-premium spa, specialty retail, 16 dining and lounge venues, and approximately 71,000 square feet of state-of-the-art ballroom and meeting spaces. Situated on the waterfront along the Mystic River in Everett, Massachusetts, the resort has created a six-acre public park and Harbor walk along the shoreline. It is the largest private, single-phase development in the history of the Commonwealth of Massachusetts.
Wynn Macau is a luxury hotel and casino resort located in the Macau Special Administrative Region of the People's Republic of China with a total of 1,010 spacious rooms and suites, approximately 252,000 square feet of casino space, 12 food and beverage outlets, approximately 31,000 square feet of meeting and convention space, approximately 59,000 square feet of retail space, and recreation and leisure facilities including two opulent spas, a salon and a rotunda show.
Wynn Palace is a luxury integrated resort Macau. Designed as a floral-themed destination, it boasts 1,706 exquisite rooms, suites and villas, approximately 424,000 square feet of casino space, approximately 106,000 square feet of designer retail, SkyCabs that traverse an eight-acre Performance Lake, an extensive collection of rare art, a lush spa, salon and recreation and leisure facilities.
CONTACTS: | |
Chris Tropeano | Brent Gambill |
NASCAR Communications | NASCAR Communications |
Michael Weaver | |
WynnBet Communications | |
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SOURCE Wynn Resorts, Limited
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