WynnBET Secures Market Access in New York

Rhea-AI Summary

WynnBET has announced that it has secured market access for online sportsbook operations in New York, marking the company's entry into the 19th jurisdiction. The New York State Gaming Commission approved WynnBET's application, originally submitted in August 2021. WynnBET currently operates in states like Arizona, New Jersey, and Virginia, reaching approximately 50% of the U.S. population and negotiating access to six more states. This expansion aims to enhance customer engagement and rewards for existing users while attracting new clientele.

Positive

• Secured market access in New York, expanding WynnBET's reach.
• Currently operates in 19 states, covering 50% of the U.S. population.
• Plans to negotiate access in six additional states, potentially increasing coverage to 77%.

Negative

• None.

LAS VEGAS, Nov. 8, 2021 /PRNewswire/ -- WynnBET, the premier online sports betting and casino ("iGaming") app from the global leader in luxury hospitality, Wynn Resorts, announced on Monday it has obtained market access in New York for online sportsbook operations. New York represents the 19th jurisdiction in a rapidly growing footprint of states in which WynnBET has secured varying degrees of market access.

WynnBET submitted a bid to the New York State Gaming Commission for online sportsbook operations in August as part of a consortium of operators that are partnered with the Oneida and St. Regis Mohawk compacted tribes.

"We're excited that the New York State Gaming Commission has approved our request for application for online sports betting," Wynn Interactive CEO Craig Billings said. "New Yorkers represent a significant portion of the Wynn Las Vegas and Encore Boston Harbor databases, and we look forward to giving those customers more ways to earn and use Wynn Rewards. We also look forward to meeting and engaging with new customers in the state via WynnBET."

WynnBET Sportsbook is currently available in Arizona, Colorado, Indiana, Michigan, New Jersey, Tennessee and Virginia. In addition, WynnBET currently has varying degrees of market access to 19* states covering approximately 50% of the U.S. population and is in negotiations to obtain access in six additional states, which would result in WynnBET's footprint covering approximately 77% of the U.S. adult population.

* - The online sports betting and iGaming industry's legislative and regulatory landscape is rapidly evolving and WynnBET's access is subject to change as a result. WynnBET has market access agreements or opportunities which will become effective if legalized and regulatory requirements, licensee eligibility, and suitability standards are met. Such market access and licensure are subject to legalization and required approvals by regulatory authorities in each jurisdiction.

For more information, please visit www.WynnBET.com.

About Wynn Interactive
Wynn Interactive is the online gaming division of Wynn Resorts, Ltd. (Nasdaq: WYNN) offering a world-class collection of casino and sports betting mobile options for discerning players who understand the difference between placing a bet and experiencing a bet. Wynn Interactive products, which operate under the WynnBET, WynnSLOTS, and BetBull brands, are designed to digitally deliver the legendary service and guest experience Wynn Resorts is known for, backed by the Company's trusted legacy as the world's premier international casino operator.

WynnBET is anchored by its eponymous mobile sports and casino betting app providing one-of-a-kind experiences, unique social betting mechanics, and a high-quality user interface. Currently available in Arizona, Colorado, Indiana, Michigan, New Jersey, Tennessee and Virginia, WynnBET is poised for rapid expansion with several pending license applications in process. WynnBET is an Approved Sportsbook Operator of the NFL, an Authorized Gaming Operator of NASCAR, MLB and NBA, and proud marketing partner of several NFL, NBA and MLB teams. For more information, visit www.wynninteractive.com or www.WynnBET.com.

Media Contact: 
Seth Medvin, WynnBET
702-770-7832
seth.medvin@wynnbet.com

Investor Relations:
Vincent Zahn, Wynn Resorts
(702) 770-7555
investorrelations@wynnresorts.com

 

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SOURCE WynnBET

FAQ

What recent announcement did WynnBET make regarding its operations in New York?

WynnBET secured market access for online sportsbook operations in New York, expanding its jurisdictional footprint.

How many states does WynnBET currently operate in as of November 2021?

As of November 2021, WynnBET operates in 19 states.

How does WynnBET's New York market access impact its customer reach?

The New York market access allows WynnBET to engage existing customers and attract new users, enhancing its overall market presence.