WynnBET Kicks Off 2021 With Aggressive Expansion Plans

2020 was a year like no other in the US legal sports betting scene. One company looking to build on the momentum created last year is Wynn Resorts, which is plowing forward with aggressive expansion plans of their online wagering WynnBET mobile brand. Available in New Jersey and Colorado at present, WynnBET has signaled a growth model that would see it expand into other exciting US markets in 2021.

The end of this week saw Wynn Resorts Limited's WynnBET kick off those expansion plans with an official launch in one state and the announcement of market access in another. According to a news release, the addition of the two would bring WynnBET's presence to eight states.

In the same media release, the company pumped their mobile brand, saying: “Inspired by Wynn Resorts’ unmatched expertise in customer service, the WynnBET app offers an ultra-intuitive and highly responsive interface that delivers hundreds of sports betting options to delight both aficionados and beginners alike.”

Where WynnBET Hopes to Be Live

New Jersey and Colorado already have a WynnBET platform up and running and have had success with the company's offerings so far. WynnBET will officially be live in Michigan Friday and has most recently gained market access in Ohio, pending the necessary license eligibility and availability, legalization, and regulatory approvals.

WynnBET has also recently secured access to Indiana, Iowa, Massachusetts (Encore Boston Harbor) and Nevada markets. It has also applied to be licensed in Tennessee and Virginia, a state that surprisingly went live with its sports betting platform on Thursday. That makes a total of eight markets hopes to be a part of by the end of 2021.

Ohio

WynnBET confirmed Thursday that they have secured market access into Ohio, a market that has not yet gone live, but is expected to be a major factor in the US scene once it does. Just "when" is still up in the air. WynnBET's arrival in Ohio coincides with a multi-year market access partnership with Elite Casino Resorts, one of the most recognizable names that currently exist in the Ohio scene.

“WynnBET, the premier casino and sports betting app from the global leader in luxury hospitality, Wynn Resorts, announced today that it has secured market access in Ohio, subject to license eligibility and availability, legalization, and regulatory approvals,” read an official press release. “This marks the eighth state to be added to the rapidly growing list of jurisdictions where WynnBET plans to launch.”

WynnBET will be one of 11 licenses in an Ohio market that boasts high profile sports teams: the Cincinnati Bengals and Cleveland Browns of the NFL, the Cincinnati Reds and Cleveland Indians of MLB, the Cleveland Cavaliers of the NBA, the Columbus Blue Jackets of the NHL, and of course one of the most high-profile college sports programs in the US - the Ohio State Buckeyes.

Michigan

WynnBET dramatically increased the national profile on Friday when they went live in the up-and-coming, projected Heavyweight of legal sports betting, the state of Michigan. WynnBET partnered with GAN and the Sault Ste. Marie Tribe of Chippewa Indians in a multi-year deal to bring their top tier offering to The Wolverine State.

"We are excited to bring WynnBET and the renowned Wynn betting experience to Michigan, the first of many additional states we intend to enter in 2021," said Craig Billings, President of Wynn Resorts. "With its large and highly engaged community of sports and casino fans, we are confident that Michigan will become a meaningful market for us."

WynnBET's Climb

Wynn Resorts saw its share price dramatically increase over the second half of 2020 but still lagged behind other Heavyweight names in the US scene. Shares of the company gained 32.8% in the last six months of 2020, with the average of sports betting companies increases being about 40.6%. Hopes are that recent expansion will elevate them into the next tier of legal sports betting providers.

Increasing their presence from two states to a hopeful eight by the end of 2021 has signaled their arrival on the National scene as a serious player. The pandemic has shone an even brighter spotlight on the mobile side of the legal sports betting industry in the US, and WynnBET is poised to take full advantage of that.