With how the world went in 2020, Wynn Resorts worked out quickly that they needed to do something different to try and keep their business and their operations afloat.
The pandemic had hit almost every single business across the world hard, however, the American casino and hotel resorts chain had been hit incredibly hard as they saw their revenues dwindle and continue to spiral into uncontrollable levels.
Despite having been established in 2002, there was every chance that Wynn Resorts may not have been able to survive, as they had lost a combined $758 million during the third quarter due to the lack of business that they were able to make.
However, a decision by the resort to enter the iGaming industry might have paid dividends for the chain, as they recognized that being part of the emerging sector was an opportunity that was too big not for them to capitalize on.
Indeed, their first major sign of intent was to team up with GAN Limited in October 2020, as it provided them with a partnership with a company that already had plenty of experience in the iGaming sector. The two organizations signed a 10-year partnership, which has since allowed them to set up online operations in states that allow for them to do so.
The first move was to launch their Wynn Online website in Michigan, although since then, WynnBET launched in Tennessee as well to further solidify their place in the iGaming market and cement their intention to take it on head first.
The decision to launch the WynnBET Sportsbook in the state of Tennessee is a clear intention that they want to challenge everyone already established there, as there are a number of competitors already in that space, whilst they have also managed to establish a big sponsorship deal that will see them partner with NBA franchise, the Memphis Grizzlies.
Wynn Resorts have continued to step up in the iGaming sector via the use of other big sports sponsorships, as well, as their WynnBET Sportsbook is an official authorized gaming operator for NASCAR, as well as a partnership with NBA team, Detroit Pistons.
Moreover, their desire to enter the iGaming industry as a huge player has been further highlighted by the fact that they continue to enter new states across the United States of America, with their sportsbook now available in places such as New Jersey, Indiana, Colorado, and Virginia.
Whilst Wynn Resorts have been highly ambitious with their plans to enter the iGaming market and establish themselves as the main player, it appears that they have been making good progress and have stayed true to what they had wanted to set out.
Of course, the partnerships with huge sports teams in areas where they are trying to build a presence could only be considered good business and marketing, as it will immediately target the demographic segment that they want to appeal to.
Whilst their physical casino operations may have taken a huge hit over the last 18 months, Wynn Resorts appear to be in a good position and one where they could reap the rewards in the near future.
Image credits https://www.wynnresorts.com/
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