Wynn Interactive expanding operations with 71% ownership of BetBull
Wynn Resorts said it is building on its partnership with BetBull, an operator of sportsbooks and casinos in Malta and the UK.
As it released its Q3 earnings report, Wynn noted it had formed a new division known as Wynn Interactive, Ltd., in October. This entity is the result of a merger of Wynn’s online sports betting and gaming business, social casino business, and BetBull Limited. Wynn and BetBull previously announced a strategic partnership in October 2018.
Wynn will make an investment of $80m into Wynn Interactive, and will own 71% of BetBull. The company said in a statement it expects the new entity will “position Wynn Resorts to capitalize on developing opportunities in digital and interactive sports betting and gaming throughout the U.S., by combining Wynn Resorts’ nationally recognized brand with BetBull’s digital sports betting operational capabilities and technology.”
“On the development front, we have made substantial progress advancing Wynn Interactive, our majority owned sports betting and online gaming subsidiary,” said Matt Maddox, CEO of Wynn Resorts. “During the third quarter, we launched online sports and casino offerings in New Jersey to an encouraging initial customer response. Beyond New Jersey, we have secured market access in numerous other states, and are in the process of applying for licenses on a standalone basis in Tennessee and Virginia. We also are in discussions with potential partners regarding additional access agreements in other jurisdictions.
“Our nationally-recognized brand and unique product-led strategy position us well to generate our fair share of this important, fast-growing business over the coming years,” Maddox added.
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