• Fri. Sep 29th, 2023

WynnBET Shutting Down in Several States • This Week in Gambling

WynnBET Shutting Down in Several States • This Week in Gambling

Management at Wynn Resorts has announced the decision to close its WynnBET sports betting platform in several jurisdictions. The company will not accept bets from customers in Arizona, Colorado, Indiana, Louisiana, New , Tennessee, Virginia, and West Virginia as quickly as possible.

Wynn's Chief Financial Officer, Julie Cameron-Doe, stated that “In of the continued requirement for outsized marketing spend through user acquisition and promotions in online sports betting, we believe there are higher and better uses of capital deployment for Wynn Resorts shareholders”

This news may seem a bit odd, considering that WynnBet just debuted in six states last . But betting on sports is a tough business. In fact, just within the past year there have been several online operators abandon the market, including Fox , MaximBet, and TwinSpires.

WynnBET did say that their operations in and will continue for now. However, operations in New and Michigan are currently under review. So, there is the possibility that the company could leave those markets as well.

“While we believe in the long-term prospects of iGaming,” Ms Cameron-Doe continued, “…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.”

#WynnBET # #States #Week #

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