Wynn Resorts Closes Online Sports Betting in Multiple States
Wynn Resorts will be shutting down its WynnBET online sports betting and online gaming platforms in eight out of the twelve states where it operates, citing high costs and intense competition. The company's operations in Nevada and Massachusetts will not be affected. Wynn Resorts plans to work with regulators and customers to cease operations in Arizona, Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia, and West Virginia. The company is also reviewing its operations in New York and Michigan. WynnBET has struggled to gain significant market share, with four dominant operators controlling the majority of the sports betting business. The decision reflects a focus on capital deployment in states where Wynn Resorts has a physical presence.