WynnBET, the casino and sports betting app of Wynn Resorts, announced that the Sports Wagering Committee of the Tennessee Education Lottery Corporation’s Board of Directors approved it for operations around the state, pending fulfillment of statutory and regulatory requirements.
This means that the approval is only conditional at this time. When WynnBET gains a full license, Tennessee will mark the ninth state where the sports betting app is approved to operate.
The Tennessee expansion is another step in the company’s fast-track growth plan to meet the demands of the quickly moving online and mobile sports betting industry.
Tennessee has been on Wynn’s radar for quite some time now since it is one of the US states that currently provide legal online sports betting options.
Tennessee lawmakers first introduced the possibility for legalization of sports betting in 2018. The aim was to take advantage of the additional revenue that could be generated by the practice.
WynnBET is owned by and operates as part of Wynn Resort, which has long been one of the global leaders in luxury hospitality and casino gambling. Inspired by that, the mobile app offers a highly responsive interface dedicated to delivering hundreds of sports betting options for experienced players, as well as for beginners.
In 2020 WynnBET acquired BetBull, a move that guaranteed the app’s expansion to highly social sports betting technology. The joint venture made sure to provide one of the best betting experiences for customers in different states.
For the sake of entering the fast-growing US sports betting market, Wynn Resorts invested $80 million into the acquisition of BetBull.
The joint venture was initiated in 2018 so that Wynn could pursue US sports betting opportunities. Back then the casino operator owned only 22.5% of BetBull. After the finalization of the acquisition, the operator owns 71%.
The joint venture combines BetBull’s US sports betting operations with Wynn’s wagering and social gaming business. The reorganized business now operates under the name Wynn Interactive.
The mobile app was launched in 2020 and so it has kept the brand’s promise for fast expansion. The WynnBET app is currently available for players in New Jersey, Colorado and Michigan. In the meantime, it has market access opportunities not only in Tennessee but in Indiana, Iowa, Massachusetts, Nevada and Ohio. It also submitted a license application in Virginia.
WynnBET is a Wynn Resorts’ invention to mark the brand’s place on the online gaming market. The app offers a vast collection of casino and sports betting options to make gambling a truly entertaining experience.
Source: “WynnBET Conditionally Approved for Online Sports Betting in Tennessee”, PR Newswire, February 9, 2021