Noticias de ultima
  • 12.00 Bets generate R$478.9 million for the Ministry of Sports in the first half of the year
  • 12.00 Legalization of casinos and gambling in Brazil could generate R$20 billion in taxes
  • 12.00 California Moves to Prohibit Sweepstakes Casinos with Unanimous Legislative Support
  • 12.00 Sports Betting Applications Close in Missouri as Pre-Registration Date Nears
  • 12.00 $1 Billion Arena Project to Kick Off at Reno Casino Resort
  • 12.00 Big Stage, Bold Impact: NOVOMATIC Will Set the Tone at G2E 2025
  • 12.00 Atlaslive’s 2025 Summer Brief: Phishing Continues to Top the Cyber Threat List
  • 12.00 GLI Expands EMEIA Team
  • 12.00 IGT Named Official Lanyard Sponsor for BEGE 2025
  • 12.00 SBC Summit 2025 Opens Today: 135,000 m² of Innovation, Networking, and Deals
Online Games

Wynn Invests $80 Million in Revamped Online-Gaming Venture

Friday 06 de November 2020 / 14:45

2 minutos de lectura

(United States).- Wynn Resorts Ltd. is investing $80 million in a newly reorganized joint venture to pursue online betting in the U.S., marking the latest attempt by a casino giant to tap the fast-growing market.

Wynn Invests $80 Million in Revamped Online-Gaming Venture

Wynn had established a partnership two years ago with BetBull Ltd., a European online gaming operator, to pursue sports betting. The new venture, which is owned 71% by Wynn and 29% by BetBull’s former shareholders, combines that company’s online betting operations overseas with Wynn’s sports betting and social games in the U.S.


The venture, which will operate under the name Wynn Interactive, has launched in New Jersey and had revenue of about $21 million last year. The plan is to expand to Colorado, Michigan and Indiana in the coming months.


BetBull developed a more social version of online gaming that is unique in the industry, Wynn Chief Executive Officer Matt Maddox said on a conference call.


“It moves you into chat rooms quickly -- it’s fun,” he said.


The joint venture, which employs about 150 people, has deals that will allow it to offer sports betting in nine states.


Wynn reported sales for the third quarter that fell short of analysts’ estimates due to weakness in the Macau market. Revenue and profit in Las Vegas, though down sharply from last year, exceeded expectations due to rebounding weekend demand.


The company’s Boston-area resort had its most profitable quarter since opening, although the property will have to cut back its hours starting Friday due to new pandemic-related restrictions.


Separately, Caesars Entertainment Inc. announced plans to offer a single betting app in the U.S. that lets customers earn loyalty points both at its casinos and online. The move follows its $3.8 billion agreement to buy U.K. betting operator William Hill Plc, a deal slated to close next year.


Caesars’ New Jersey online business is on track to deliver $150 million in revenue this year, CEO Tom Reeg said. The company will operate sportsbooks under the Caesars brand at its own hotels while using the William Hill brand at other casinos, he said.


“This is the most significant growth opportunity in the casino space since riverboats were legalized in the 1990s,” Reeg said. “You are in inning one of, if you’re thinking in baseball terms, what ultimately will be an extra-inning game.’”


 

Categoría:Online Games

Tags: Sin tags

País: United States

Event

GAT Expo CDMX 2025

28 de August 2025

Update on Mexico's Gaming and Raffles Law: Experts discuss its present and future at GAT Expo Mexico 2025

(Mexico City, SoloAzar Exclusive).- At the Expo Santa Fe Convention Center, gaming industry leaders analyzed the challenges and opportunities of the reform to the Gaming and Raffles Law, in a panel moderated by Rosa Ochoa of SCCG Management LATAM.

Tuesday 16 Sep 2025 / 12:00

GAT CDMX 2025: Experts Discussed Innovation in iGaming and Sports Betting in Mexico

(Mexico City, SoloAzar Exclusive).- As part of the GAT CDMX 2025 Institutional Academy, leading industry executives met in Mexico City to analyze the challenges and opportunities presented by innovation in online gaming, iGaming, and sports betting. Artificial intelligence, omnichannel, user experience, and the role of streamers were some of the central topics discussed.

Monday 15 Sep 2025 / 12:00

21Viral Strengthens Industry Ties and LatAm Expansion at GAT Mexico

(Mexico City, SoloAzar Exclusive).- At GAT Expo Mexico, 21Viral made a powerful impression through strategic networking, insightful participation, and a clear vision for growth across Latin America. Luz Serna, Head of Sales LatAm (i Gaming), highlighted the event’s rich academic content and the valuable alliances formed with key operators and stakeholders in the Mexican gaming industry.

Monday 15 Sep 2025 / 12:00

SUSCRIBIRSE

Para suscribirse a nuestro newsletter, complete sus datos

Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.

PODCAST

MÁS CONTENIDO RELACIONADO