WynnBet is the latest online sports betting brand to secure entry into the newly regulated Arizona betting market.
The US casino giant Wynn Resorts has announced a market access deal with the San Carlos Apache Tribe in Arizona for sports betting.
Last week, the US operator Bally’s Corporation also announced entry into Arizona via a deal with the WNBA‘s Phoenix Mercury.
The deal
Under the deal, Wynn has secured a way into Arizona’s legal sports betting market.
Wynn announced the deal on Friday, making Arizona the 16th state where the operator has secured access for sports betting.
Assuming the Tribe receives a licence, the operator will be able to launch its WynnBet sports betting brand in the state of Arizona through the Tribe’s licence.
WynnBet’s market access is still subject to licensing and regulatory approval from the state.
In the state of Arizona, the San Carlos Apache Tribe operates the Apache Gold Casino and Apache Sky Casino, which could both host a WynnBet-branded land-based sportsbook.
WynnBet in the US
WynnBet has been hard at work to expand its presence in the US online gambling space.
In May, Wynn Resorts spun off its online-focused Wynn Interactive division via a merger with the special purpose acquisition company (SPAC) Austerlitz Acquisition Corp. I.
The merger valued the combined entity at $3.2bn and provided Wynn Interactive with a $640m cash boost. Wynn Resorts will maintain a 59% ownership stake in the new entity.
Wynn Interactive has also launched its online sports betting brand WynnBet in several US states including Colorado, Indiana, Michigan, New Jersey, Tennessee, and Virginia.
Sports betting in Arizona
In April, Arizona Governor Doug Ducey signed HB 2772 into law legalising sports betting in the state.
Then in early June, the Arizona Department of Gaming revealed the target launch date for sports betting in Arizona is 9 September 2021.
Under the state’s laws, 20 sports betting licenses will be made available and licence holders will be able to operate online and land-based betting.
Of those licenses, 10 would be made available to major sports teams located in the state.
Before the market can go live, the Department of Gaming must formalise regulations and other aspects of the market like tax rates. On 21 June, the comment period for the draft sports betting rules concluded.
Most of the comments revolved around clarifying the language relating to the market’s rules and regulations. Some comments also included minor additions such as accepting credit cards to fund mobile sports betting.
