Wynn Resorts announces sports betting partnership
The casino company has entered into a strategic partnership with a Europe-based operator.
US.- Wynn Resorts has announced that it has entered into a strategic partnership with BetBull Limited, a Europe-based digital sports betting operator, to pursue sports betting opportunities in the emerging US market.
The strategic partnership will position both parties to capitalise on the developing US opportunity by combining Wynn Resort’s nationally recognised brand with BetBull’s digital sports betting operations, capabilities and technology.
In conjunction with the formation of the strategic partnership, Wynn Resorts will make a minority equity investment in BetBull. Wynn Resorts will own 22.5% of BetBull on a fully-diluted basis upon the closing of the investment which will occur in due course subject to customary closing conditions. Moelis & Company LLC acted as financial advisor to Wynn Resorts.
