Full House Resorts and Wynn Resorts have signed two deals to launch online and mobile wagering in Indiana and Colorado. Both deals are with WSI US which is a subsidiary of Wynn Resorts and is the operating company for its interactive gaming and sports business.
Full House and Wynn Resorts Partner Up
Wynn Resorts has signed two deals with Full House resorts to launch mobile and online wagering in both Colorado and Indiana. Full House has been busy trying to carve out as much space as it can in the legal sports betting market. As a result, Full House Resorts said that they have now used all of their permitted sports betting opportunities in both Indiana and Colorado.
"We are excited to partner with Wynn Resorts, allowing them to conduct mobile sports wagering throughout Indiana and Colorado," Daniel Lee was quoted as saying. He is the Full House president and chief executive. Full House has Bronco Billy's Casino and Hotel in Colorado and Rising Star Casino and Resort in Indiana. Wynn Resorts also has properties in Nevada and Massachusetts.
This is the Second Big Move for Full House This Month
In early September, Full House Resorts announced that they had reached an agreement with Churchill Downs Incorporated (CDI) to open a retail BetAmerica Sportsbook. It will be located at the Rising Star Casino Resort in Southern Indiana.
The deal also allows CDI to open a retail and online sportsbook through BetAmerica in Colorado, by using Full House Resorts' operating license for Broncos Casino and Hotel. They also signed another deal in September with Smarkets. The betting exchange operator will act as its mobile sports betting provider at the two aforementioned casinos.
The Launch in Colorado is Subject to State Legislation
Sports betting went live in Indiana back on September 1st. Online wagering began in early October and is expected to bring a significant boost to the overall market in the state. This new deal comes at the perfect time for their Indiana venture but they will have to wait on Colorado.
Before they can do business as planned in Colorado, voters need to decide on Proposition DD. Sports betting is not yet legal in the Rocky Mountain state. Proposition DD seeks to: authorize sports betting with a 10% tax on any potential sports betting operations. If approved, individuals over the age of 21 located in Colorado would be allowed to make in-person bets at existing casinos. The only casinos in the state are in the small towns of Black Hawk, Central City and Cripple Creek. There are no casinos in the Denver Metropolitan area.
Prop DD has Bipartisan Support
As one of the most conservative states in the country when it comes to gambling, it's hard to know how Colorado residents will vote on the issue of Prop DD. The main reason it even has the level of support it does, is because it is tied to the water budget which some estimate has a $100 million shortfall.
Those in favor of Proposition DD believe that legal sports betting could help generate tax revenue between $10 and $20 million dollars a year.