The long and challenging journey to become a top-rated sports and casino site takes an unexpected turn as WynnBet announces the closure of its services in eight states.
Article at a Glance
- WynnBet Casino and Sports Closing
- WynnBet Launched a New App A Week Before the Announcement
On Friday, August 11, 2023, WynnBet announced its plan to close the online betting and casino platform in eight states, including New Jersey.
Based on the press release given by Julie Cameron-Doe, the CFO of WynnBet, the company plans to pursue other avenues while walking away from the challenging US betting market.
“In light of the continued requirement for outsized marketing spend through user acquisition and promotions in online sports betting, we believe there are higher and better uses of capital deployment for Wynn Resorts shareholders,” Julie said in the release.
“While we believe in the long-term prospects of iGaming, the dearth of iGaming legislation and the presence of numerous other investment opportunities available to us around the globe have led us to the decision to curtail our capital investment in WynnBet to focus primarily on those states where we maintain a physical presence.”
The eight states where WynnBet plans to end its services as soon as possible include:
- Arizona
- Colorado
- Indiana
- Louisiana
- New Jersey
- Tennessee
- Virginia
- West Virginia
The company plans to continue its services in Massachusetts, Michigan, Nevada, and New York without interruptions.
Closing a Week After Launching a New WynnBet App in the US
On Friday, August 4, 2023 – a week before announcing the plans to close in eight states – WynnBet presented a new app for the US market, already available in six states at the time of launching.
“We are thrilled to introduce the new WynnBet app with enhanced sportsbook technology to six more markets, which continues our commitment to offer players a five-star experience in each of the states we operate in,” Ian Williams, the Wynn Sports Interactive President, said in a release.
When launching, WynnBet said players with accounts in Arizona, Colorado, Indiana, Louisiana, Massachusetts, Tennessee, Virginia, and West Virginia can log in with the same account details and access rewards, existing bets, and funds without interruption.
While it seems clear that the company is simply changing to a new app and closing the previous platform, WynnBet released no such information. It’s also unclear if New Jersey, New York, and Michigan will regain access to the new WynnBet app and whether casino games will be available in legal states.
The news of WynnBet closing it a great benefit for leading casino and betting sites such as UniBet, Fanduel, and Draftkings, having the opportunity to expand even more, especially for those available in multiple states.
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