September 30, 2023
WynnBET Shutting Down in Several States • This Week in Gambling

WynnBET Shutting Down in Several States • This Week in Gambling

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

Wynn's Chief Financial Officer, Julie Cameron-Doe, stated that “In light of the continued requirement for outsized marketing spend through user acquisition and promotions in 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 abandon the market, , MaximBet, and TwinSpires.

WynnBET did say that their operations in Nevada and Massachusetts will continue for now. However, operations in New York 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 - 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.”

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