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Tag: Wynn Resorts

February 13, 2024

WynnBet ceases operations in Massachusetts

The Wynn Interactive division of Wynn Resorts has ceased operations of its WynnBet online gambling brand in the state of Massachusetts.

Players in Massachusetts have 30 days from yesterday (12 February) to withdraw any funds from their WynnBet account.

Wynn Resorts, however, will continue to operate retail sports betting in the state. Players can continue to wager at the land-based sportsbook and kiosks inside its Encore Boston Harbor casino.

The halting of operations in Massachusetts comes after Wynn Resorts last August set out plans to scale back the brand across the US. Along with Massachusetts, WynnBet will also exit Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia and West Virginia.

WYNNBET IS IS ALSO SET TO EXIT Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia and West Virginia

The brand remains active in Nevada, New York and Michigan. However, Wynn chief financial officer Julie Cameron-Doe last week said its operations in New York and Michigan rem..

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August 11, 2023

Dearth of igaming legislation prompts major WynnBet roll-back

Wynn Resorts blames a dearth of igaming legislation and marketing costs for a major reduction in its online brand WynnBet’s US footprint.

Wynn will cease operations in Arizona, Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia and West Virgina as soon as possible.

Operations in New York and Michigan remain under review. Only Nevada and Massachusetts operations are guaranteed to continue – states where it operates land-based properties.

“Better uses of capital deployment”

There are better uses of capital deployment for Wynn shareholders than the high levels of marketing spend required for online sports betting, chief financial officer Julie Cameron-Doe explained.

“While we believe in the long-term prospects of igaming, 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..

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August 10, 2023

Wynn talks up “substantial” UAE growth potential as Q2 revenue rises

Wynn Resorts CEO Craig Billings said the operator is edging closer to securing a licence for its new integrated resort in the United Arab Emirates (UAE), while the business posted a 75.8% rise in Q2 revenue to $1.60bn (£1.26bn/€2.46bn).

The business first announced plans to open Wynn Al Marjan Island in early 2022. The Wynn Resorts facility will be located on the man-made Al Marjan Island in the Emirate of Ras Al-Khaimah and will cost approximately $3.90bn.

The venue is not due to open until early 2027 but Wynn is already busy making plans for the casino. Construction partners were appointed in March, initial designs were revealed shortly after and Thomas Schoen was recently named project president.

“We have everything we need to operate gaming in Al Marjan”

Wynn released renderings of its property in Ras al-Khaimah earlier this year

In addition, the operator is pushing to secure early approval ahead of the planned opening. Speaking on its earnings call, he said Wynn expects to re..

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