Wynn Resorts is going to invest $3.5 million in Blue Wire to develop a dedicated studio at the Wynn Resorts in Las Vegas.
Dedicated Sports Broadcasts Soon to Come out of Wynn Las Vegas
Wynn Resorts Ltd. will pony up $3.5 million to invest in Blue Wire, a sports podcasting platform based in San Francisco. The company will use the investment to develop a dedicated studio at the Wynn Resorts property in Las Vegas and use the product to promote the company’s online betting unit, WynnBET.
Wynn expects to complete the studio ahead of the 2021 NFL season, giving it a quick opportunity to bolster its marketing efforts. Blue Wire made a statement that it would seek to bring together industry experts and commentators, ex-athletes, and other insiders to “lead the conversation in sports on social media” and generate engaging materials reaching out and resonating with fans.
Podcasting and media partnerships have become a strong driver of interest in the sports betting sector, with Yahoo Sports seeking closer ties with the NBA just recently to produce a new dedicated betting podcast.
As to the Blue Wire/WynnBET studio, the plan is to have several on-air personalities who will guide people through the odds and betting trends in the industry as well as present various stories. The studio will be bang next to the Wynn retail casino in Las Vegas, and interviewees are expected to arrive on site.
Media Partnerships Are the Future for Sports Betting Companies
Developing studios to cover sports as a media is a new phenomenon for sportsbooks, who have been trying to find a way to market a product that is difficult to reach audiences in general. Speaking of studio developments, BetMGM, one of the leading sports betting brands, has teamed up with The Athletic to produce diverse content, including podcasts, earlier this year.
Other successful partnerships and similar initiatives include the Circa Vegas Stats and Information Network broadcasts and the ESPN Radio, and KOMP 92.3-FM live radio shows held at the Westgate SuperBook, bringing sports fans up to speed.
To exemplify how important it has become for gaming companies to be seen as media, Penn National Gaming acquired Barstool Sports, which had generated hefty followership before the purchase.