Wynn Resorts Stock Price, News & Analysis

WynnBET, the mobile sports betting app by Wynn Resorts, has announced a multi-year sponsorship with the Detroit Lions, marking its first partnership with an NFL team. As part of the deal, WynnBET will be the official sportsbook and gaming partner, featuring the WynnBET Sports Bar at Ford Field. This venue will offer live betting lines and amenities for fans. WynnBET will gain access to extensive media visibility through the Lions' platforms and will sponsor a Free To Play game with various prizes. WynnBET aims for rapid expansion with pending licenses in several states.

WynnBET has announced a partnership with sports icons Chad 'Ochocinco' Johnson, Tim Howard, and Nick Mangold as brand ambassadors. The trio will promote the WynnBET app through advertising, live events, and social media interactions. Johnson, a notable influencer, and former NFL player, Howard, a prominent soccer analyst, and Mangold, a Pro Bowl offensive lineman, will enhance WynnBET's visibility. The app is currently available in several states and is planning to expand further in 2021, adding unique features and user-friendly experiences.

WynnBET has announced a multi-year partnership with the Colorado Rockies, becoming the team's proud sports betting partner. This collaboration allows WynnBET to utilize various branding assets, including signage at Coors Field and digital promotion through Rockies' social media. WynnBET will host premium hospitality events and offer fans opportunities to participate in special moments like ceremonial first pitches. The partnership includes in-game promotions and an odds boost for Colorado users betting on the Rockies, highlighting WynnBET's commitment to expanding its presence in sports betting.

WynnBET, the sports betting app of Wynn Resorts, has partnered with the San Carlos Apache Tribe to seek an online sports betting license in Arizona. This collaboration adds Arizona as the 16th state where WynnBET is planning to operate. The app already services states like Colorado, Indiana, and New Jersey, reaching 53% of the U.S. population with plans for further expansion. WynnBET offers a user-friendly experience with various sports betting options and aims to enhance its market presence through this new partnership.

WynnBET announced the construction of a new 1,700-square-foot Blue Wire podcasting studio at Wynn Las Vegas, set to open in August 2021. This state-of-the-art facility will produce content for over 175 podcasts that attract more than 50 million annual downloads. Key highlights include partnerships with NFL legends Cris Carter and Chris Long, who will host new podcasts. The studio aims to enhance the WynnBET brand and energize the sportsbook experience while providing an engaging environment for sports content creation.

Encore at Wynn Las Vegas has launched a new dog-friendly resort program, allowing guests to stay with up to two dogs in any room or suite. The program includes exclusive amenities like a complimentary doggy bag, concierge services for dog walking, and a specialized room service menu called Bone Appetite featuring gourmet dishes for dogs. The resort also offers a collection of dog clothing and accessories for purchase. This initiative aims to enhance the luxury experience for pet owners while further establishing Encore's reputation for exceptional service.

On May 14, 2021, Wynn Las Vegas (Nasdaq: WYNN) announced an updated mask policy for guests and employees, aligning with CDC guidelines. Fully vaccinated guests are not required to wear masks, while unvaccinated individuals must. The resort has achieved a 91% vaccination rate among employees, enabling it to operate gaming areas at full capacity and remove plexiglass dividers. This change reflects a significant adjustment in health protocols, allowing for increased occupancy and a return to normalcy in operations, enhancing the guest experience at the resort.

Wynn Resorts and Austerlitz Acquisition Corporation I have agreed to a business combination, forming a new public company named Wynn Interactive, Ltd., which will trade under the ticker 'WBET' on Nasdaq. This merger aims to enhance Wynn Interactive's position in the burgeoning North American online gaming market, valued at $45 billion. The deal is expected to close by the end of 2021, contingent on shareholder and regulatory approvals. The transaction promises $640 million in cash for the new entity to support growth initiatives.

Wynn Resorts reported a decrease in Q1 2021 revenues of 23.9% to $725.8 million compared to Q1 2020. The net loss was $281 million or $2.53 per share, improving from a $402 million loss in the previous year. Adjusted Property EBITDA increased at various properties, particularly Encore Boston Harbor, but fell slightly at Wynn Macau. The company aims to grow WynnBET through a merger with Austerlitz Acquisition Corp I. Despite ongoing COVID-19 challenges, gaming revenues showed signs of recovery, particularly in Las Vegas.