After being conditionally accredited for online sports betting in Tennessee and eight other states accros the U.S., Wynn Resorts finally receives another approval to launch its market-leading betting app.
WynnBET has been authorized by the Virginia Lottery on 8 March, which marks the 10th state to elate operator’s footprint. Meanwhile, the American corporation announced a partnership with Memphis Grizzlies (a basketball team) and Forbes Travel Guide Awards.
Virginia, a New Hot Spot
Securing regulatory approvals in Michigan, New Jersey, Colorado, Indiana, Iowa, Massachusetts, Nevada, Ohio and Tennessee has proven Wynn’s dedication towards meeting the demands of the “quickly moving” online sports betting and iGaming industry in the country.
The company obviously wants to remain at the forefront of the entire sector by using its “ultra-intuitive and highly-responsive” interface offerings that are specifically developed to boost player experiences regardless of their proficiency levels.
“We appreciate the confidence the Virginia Lottery has in our ability to deliver a world-class, online betting experience for the people of the Commonwealth of Virginia,” commented in this regard Craig Billings, president of Wynn Resorts.
The provider’s superior mobile betting platform, WynnBET, has also been authorized as the gaming operator of NASCAR in previous months, while other two racing venues in Virginia, Martinsville Speedway and Richmond Raceway, are also keen on establishing a partnership with the company’s online sportsbook.
The global leader in luxury hospitality, had previously secured market access in Ohio, after going through complicated license eligibility and availability procedures, including legalization and regulatory approvals. This entry marked the eighth state on the rapidly growing list of jurisdictions where WynnBET is available.
Shares Go Up
Prior to launching in Mother of States, the Sports Wagering Committee of the Tennessee Education Lottery Corporation’s Board of Directors accredited WynnBET to go live throughout the state.
Tennessee marked the ninth state that WynnBET has officially entered after fulfilling all statutory and regulatory requirements.
Following the approval of sports betting by the Virginia state legislature in April 2020, the state accelerated its focus on creating and approving regulations in regard to sports betting.
According to a trustful news source, sports wagering in January 2021 totaled approximately $59 million. As indicated, this figure represents operations only for 11 days with limited sportsbooks. However, despite the lower income (when compared to the statewide industry level), prospects for the future are high.
Taught by previous experience with respect to sports wagering, the state of Virginia is likely to complement online betting permits and sportsbooks by reducing promotional expenses. It is also quite possible that customer acquisition will grow exponentially when other sportsbooks join Virginia, including William Hill, FanDuel, DraftKings, BetMGM or BetRivers.
For the record, shares of Wynn Resorts gained 19.9% in the past three months compared with the industry’s 16.4% growth.
“Wynn Resorts’ (WYNN) WynnBET Boosts Online Betting in Virginia”, yahoo.com, March 8, 2021.