- WynnBET has launched their mobile sports betting app in Indiana.
- WynnBet’s Indiana market access is through a partnership with Full House Resorts and the Rising Star Casino.
- It is the fifth state where WynnBET’s app is live following New Jersey, Colorado, Michigan and Virginia.
WynnBET has announced the launch of their mobile betting app in the state of Indiana. Indiana has quietly become a decent sports betting market and WynnBet represents the 11th mobile app available to state residents. With reasonable licensing fees and a realistic tax rate of 9.5% you can expect to see even more development of the Indiana market in the coming year. In addition, there are 14 retail betting locations throughout the state.
WynnBET is the online gaming division of Wynn Resorts (NASDAQ: WYNN) and after a slow start they’ve started to make up some ground in the increasingly competitive mobile sports betting ecosystem. In addition to the five states in which WynnBET’s sports betting app is live (New Jersey, Colorado, Michigan and Virginia) they’ve got market access agreements or other opportunities in Iowa, Massachusetts, Nevada, Ohio and Tennessee. Two of these states (Ohio and Massachusetts) are ‘pending regulatory authorization’.
One of the more interesting questions concerns their Nevada access. The Wynn Resort Sportsbook *has* a mobile app but the only thing it shares with the WynnBET app is the name of the property. The Wynn Resort sports betting app uses the same numbers that you’ll see at the property at 3131 Las Vegas Boulevard. The WynnBET app uses odds from European bookmaker BetBull pursuant to a partnership agreement between the companies that began in 2018.
WynnBET’s Indiana market access is via an existing partnership with Full House Resorts (NASDAQ: FLL) and their Rising Star Casino property in Rising Sun, Indiana. This represents the second marketship partnership between WynnBET and Full House Resorts–in Colorado, WynnBET is partnered with Bronco Billy’s Casino in Cripple Creek. The retail sportsbook at both of the aforementioned properties is run by Churchill Downs Incorporated’s (NASDAQ: CHDN) TwinSpires (formerly BetAmerica).
That’s really all they have to say in a fairly to-the-point press release that doesn’t even have a quote from a Wynn Resorts executive. They indicate that there are “several pending entries into major jurisdictions across the country are planned throughout 2021” but don’t provide any details.
At the time of publication, Ross Everett has a long position in WYNN, FLL and CHDN.