Wynn to invest $3.5m in sports podcast provider Blue Wire
Wynn hopes to attract customers to its sportsbook through the multi-million dollar investment.
US.- Hotel and casino operator Wynn Resorts is investing $3.5m in sports podcast provider Blue Wire in a bid to promote its WynnBET sports betting app.
The investment will see a podcast studio developed in the lobby of the Wynn Las Vegas integrated resort, which will reportedly be up and running in time for the 2021 football season.
Blue Wire personnel will record podcasts in the studio, receiving professional athletes as guests.
The company has signed up to the agreement for three years and will promote the WynnBET brand on its podcasts as part of the deal.
The casino giant will also gain an equity stake in the company. While the amount of the investment was not disclosed, Blue Wire has recently raised $5m in Series A capital.
Wynn Resorts recently launched a public offering in a bid to raise $630.6m for general corporate purposes.
