WynnBET, Wynn Resorts’ online sports betting and igaming platform, is to cease operations in eight US states “as soon as possible” due to the cost of customer acquisition.
The platform will firstly no longer have a presence in Arizona, Colorado, Indiana and Louisiana, with Wynn Resorts chief financial officer, Julie Cameron-Doe, insisting “there are higher and better uses of capital deployment” for shareholders.
WynnBET is also closing down in New Jersey, Tennessee, Virginia and West Virginia. However, operations in Nevada and Massachusetts will remain and operations in New York and Michigan are “under review,” Wynn said.
Cameron-Doe added: “While we believe in the long-term prospects of igaming, the dearth of igaming legislation and the presence of numerous other investment opportunities available to us around the globe have led us to the decision to curtail our capital investment in WynnBET to focus primarily on those states where we maintain a physical presence.”
