Tennessee welcomes WynnBET with the company securing a license in what is a ninth state in the US for the Wynn Resorts-owned betting platform.
WynnBET Secures Entry in Tennessee
WynnBET has received a conditional approval to launch in Tennessee with the Wynn Resorts-owned sports betting solution looking to quickly expand its clout across numerous markets in the United States.
The Sports Wagering Committee of the Tennessee Education Lottery Corporation’s Board of Directors has confirmed that WynnBET is eligible to enter the state’s legalized sports betting market and launch an online sports betting app as soon as the legislation is finalized and a go-ahead is issued.
Thanks to its Tennessee entry, WynnBET is now present in nine states across the US, with a particular focus on online and mobile betting solutions. The company’s app offers a state-of-the-art betting experience leveraged in several states where customers have been able to enjoy intuitive betting solutions already.
WynnBET focuses on providing consumers with recreational as well as more advanced experience through a mix of markets, odds, and features built into the mobile app interface. The company’s success is predicated on the acquisition of BetBull in 2020 and being able to tap into BetBull’s existing infrastructure to polish and create a next-generation sports betting product of its own.
Strong Growth Metrics Across the US
WynnBET presently has access to New Jersey, Colorado, and Michigan, with market access deals in Nevada, Ohio, Iowa, Indiana, Massachusetts, and now Tennessee. The company’s license application in Virginia is still subject to approval.
Wynn Resorts International has experienced difficulties during the pandemic, posting a $2.07 billion net loss and having to temporarily withdraw from the Yokohama Integrated Resort (IR) race in Japan.
WynnBET is not giving up on its growth prospects, though, with Wynn Resorts CEO Matt Maddox delivering a powerful argument for embracing other verticals, such as iGaming. Yet, WynnBET will not shy away from its bastion which is sports betting.
The purchase of BetBull was a part of an $80 million investment to create Wynn Interactive and develop cutting-edge proprietary products that would allow Wynn to stay ahead of the competition. Wynn hopes its operations to increase significantly ahead of next year’s Super Bowl.