Category: WYNN

WYNN – WynnBET Integrating Wynn Rewards Into Online Sports Betting & iGaming Platforms

LAS VEGAS, Aug. 19, 2021 /PRNewswire/ — WynnBET, the premier online sports betting and iGaming app from the global leader in luxury hospitality, Wynn Resorts, announced on Thursday that the comprehensive Wynn Rewards program is being integrated into its online platforms.

Through this customer experience driven program, WynnBET and Wynn Resorts patrons will be able to earn rewards through mobile, desktop and on-property play. WynnBET players can choose whether they prefer to redeem rewards for online play or hotel room stays, meals and in-person experiences as well as on-property play at Wynn & Encore Las Vegas and Encore Boston Harbor. To thank early adopters of the WynnBET platform, current WynnBET players whose historical play qualifies them for a higher tier will be rewarded with an automatic upgrade ahead of the NFL season.

“One of WynnBET’s unique advantages is its connectivity to the best integrated resorts in North America,” Wynn Interactive CEO Craig Billings said. “Our WynnBET Wynn Rewards program will allow our players the opportunity to redeem offers through their WynnBET app or on property at Wynn & Encore Las Vegas and Encore Boston Harbor. We also wanted to reward our early WynnBET players with tier upgrades based on historical play, which provides additional benefits to our customers.”

Wynn Rewards includes three member tiers: Red, Platinum and Black. FREECREDIT and COMPDOLLARS, two key tenets of Wynn Rewards, are now available for WynnBET players to earn. FREECREDIT and COMPDOLLARS are simultaneously earned through WynnBET when a customer places a sports wager or plays online casino games (N.J. and Mich. only). Redemption of COMPDOLLARS can only be redeemed for experiences at physical Wynn Resorts properties such as hotel stays, food and beverage, and retail and spa treatments while FREECREDIT can be used for mobile, desktop and select in-person gaming.

Any new WynnBET patron that does not have a pre-existing Wynn Rewards account will begin at the Red Tier. Previous Wynn Rewards members will need to verify their account information on WynnBET to earn points through online sports betting and iGaming.

For more information, please visit www.WynnBET.com. For a full breakdown of the Wynn Rewards program as well as terms and conditions, please visit www.wynninteractive.com/wynnbet/wynn-reward.

*- Wynn Rewards will be available for all players in Colo., Ind., N.J., Tenn., and Va., by the end of August. Wynn Rewards will be integrated in Mich. later this Fall.

About Wynn Interactive
Wynn Interactive is the online gaming division of Wynn Resorts, Ltd. (Nasdaq: WYNN) offering a world-class collection of casino and sports betting mobile options for discerning players who understand the difference between placing a bet and experiencing a bet. Wynn Interactive products, which operate under the WynnBET, WynnSLOTS, and BetBull brands, are designed to digitally deliver the legendary service and guest experience Wynn Resorts is known for, backed by the Company’s trusted legacy as the world’s premier international casino operator.

WynnBET is anchored by its eponymous mobile sports and casino betting app providing one-of-a-kind experiences, unique social betting mechanics, and a high-quality user interface. Currently available in New Jersey, Colorado, Michigan, Virginia, Indiana, and Tennessee, WynnBET is poised for rapid expansion in 2021 with several pending license applications in process. WynnBET is an Authorized Gaming Operator of NASCAR and proud marketing partner of several NFL, NBA and MLB teams. For more information, visit www.wynninteractive.com or www.WynnBET.com.

Contact: 
Seth Medvin, WynnBET
702-770-7832
[email protected]

SOURCE WynnBET

Related Links

http://www.wynnbet.com

WYNN – Wynn Resorts' (WYNN) WynnBET, Detroit Lions to Aid Sports Betting

Wynn Resorts, Limited’s (WYNN Free Report) WynnBET announced that it has reached a long-term partnership agreement with Detroit Lions.

Per the deal, WynnBET is expected to serve as the formal sports betting and gaming partner and house the WynnBET Sports Bar at Ford Field. Apart from offering in-house gaming opportunities, WynnBET will have a significant presence outside the Ford Field on football gamedays. Thus, the fans will have a chance to win an exciting bonanza at the Lions Pride Plaza pre-game festivities.

The WynnBET branded sports bar is going to be located in close proximity to section 222 and is expected to come online this season, welcoming fans above the age of 21. The WynnBET app will boost the overall online betting experience and have access to brand ambassadors, live betting lines, and food and drinks.

According to the terms of the deal, WynnBET will have access to both digital and traditional media. The unit will have a special visibility on the Lions’ mobile app, social media accounts, preseason TV broadcast and regular-season pregame TV programing. On the Lions’ mobile app, it will be the presenter of ‘Free To Play’ game. The lucky winner of the same will even get an option to win Wynn Las Vegas, Lions season-and single-game tickets.

Zacks Investment Research
Image Source: Zacks Investment Research

Sports Betting Boosting Growth

Wynn Resorts, one of the leading companies in the gaming and lodging industry, is well poised for growth, strategically. Its strong line-up of Wynn Interactive products, operating under the WynnBET, WynnSLOTS and BetBull brands, is digitally well-crafted to enhance the overall guest experience at the Wynn Resorts.

Wynn Resorts is focusing on sport-betting expansion to drive growth. In a bid to focus on on-line betting, the company announced the merger of Wynn Interactive with Austerlitz Acquisition Corp. To fuel growth, the company will invest $640 million.

WynnBET sports betting and online casino application was operational in New Jersey for quite some time. During the fourth quarter of 2020, the company unveiled WynnBET online sports and casino offerings in Colorado and Michigan. It also secured market access in Indiana, Iowa and Ohio, and received conditional licensing in Tennessee as well. The company launched WynnBET across six states.

Shares of Wynn Resorts have surged 30.8% compared with the Zacks Gaming industry’s 38.5% growth.

Zacks Rank & Key Picks

Currently, Wynn Resorts carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Some better-ranked stocks in the same space are  Boyd Gaming Corporation  (BYD Free Report) ,  Red Rock Resorts, Inc.  (RRR Free Report) and  Century Casinos, Inc. (CNTY Free Report) , each sporting a Zacks Rank #1 at present.

Boyd Gaming has a three five-year earnings per share growth rate of 19.8%.

Red Rock has a trailing four-quarter earnings surprise of 166.2%, on average.

Century Casinos’ 2021 earnings are expected to surge 119.9%.

WYNN – Is Wynn Resorts Stock Fairly Valued?

[Updated 06/18/2021]

Despite Wynn Resorts’ (NASDAQ: WYNN) high exposure to Macau, its shares have recovered to pre-Covid levels assisted by the company’s entry into the U.S. sports betting and iGaming industry. In 2019, Macau contributed 70% of the total revenues and 75% of earnings. With the re-implementation of restriction measures in Guangdong, the Macau casino business is likely to face near-term headwinds from low tourist numbers. However, casino expenses, which largely include gaming taxes, account for around 50% of total expenses. Thus, the company reported just $1 billion of operating cash outflow despite a 68% revenue contraction last year. Given the company’s variable operating expense heads, Trefis believes that the stock is fairly valued despite a slump in Macau. We highlight the key factors driving Wynn Resorts Valuation including revenues, earnings, and stock prices in an interactive dashboard.

Financial and operating performance in the recent quarter

In Q1, Wynn Resorts

WYNN
’ revenues observed a 6% sequential improvement assisted by broad-based growth across geographies. The company’s Macau, Las Vegas, and Boston operations continued to post weak numbers as re-opening efforts did not spur a quick demand rebound. Thus, loss from operations widened to $175 million, adding to last year’s $1 billion of operating cash outflow. Room occupancy rate improved in Macau as the easing of travel restrictions improved tourist numbers. The total casino drop in Macau, Las Vegas, and Boston changed by 27%, -22%, and -15% over the prior year, respectively.

[Updated 05/04/2021] – Benefits Outweigh Risks If Holding Wynn Stock

The shares of Wynn Resorts (NASDAQ: WYNN) currently trade at pre-Covid levels as opposed to strong gains observed in MGM Resorts and Penn National Gaming earlier this year. Wynn Resorts has also been expanding its presence in the sports betting and iGaming industry with its WynnBET application. While the company’s sizable Macau exposure has been weighing on its finances, the sports betting business unveils a market opportunity comparable to Macau (In 2019, Macau’s reported $36 billion of gross gaming revenue while the U.S. sports betting market is projected to reach $40 billion at maturity). Therefore, we believe that the benefits of competing in the sports betting business outweigh the risk of a prolonged slump in Macau. Moreover, the company’s sports betting application is available in six states including the prominent hub of New Jersey. We compare the recent stock performance of Wynn Resorts with peers in an interactive dashboard analysis, WYNN Stock Has 53% Chance Of A Rise Over The Next Month After Rising 3.0% In The Last 5 Days.

Wynn’s revenues can increase by $2 billion at a 5% sports betting and iGaming market share

In 2019, Wynn Resorts reported $6.6 billion of total revenues with a 70% contribution from Macau. The company inaugurated its Boston property in mid-2019, diversifying its portfolio due to growing regional demand in the U.S. With the pandemic kindling demand for online services, the company launched its sports betting and iGaming application WynnBET in late 2020. With popular applications including BetMGM, Draft Kings, Barstool, and FanDuel targeting a 15-20% share of the U.S. sports betting and iGaming industry, WynnBET faces stiff competition from industry peers. However, even a 5% share of the sports betting market will grow Wynn’s top-line by $2 billion – potentially leading to stock price appreciation and a higher dividend payout.

Is Wynn stock a better pick over Draft Kings, Penn National, and MGM Resorts?

Wynn stock has gained 3%, 0.7%, and 2.1% over the past 5-day, 10-day, and 21-day period, respectively. This opposed to an ongoing decline in the shares of Penn National Gaming and Draft Kings – highlighting a correction in popular sports betting stocks. Considering Wynn Resorts’ diversification strategy and the ongoing momentum in its stock, we believe that it’s a good pick to realize sizable gains.

With Wynn Resorts currently a better pick compared to MGM Resorts, check out Wynn Resorts Stock Comparison With Peers to see how Wynn compares against peers on metrics that matter. You can find more such useful comparisons on Peer Comparisons.

See all Trefis Featured Analyses and Download Trefis Data here

WYNN – Wynn Las Vegas Updates Mask Policy to Comply with CDC Guidelines

LAS VEGAS, May 14, 2021 /PRNewswire/ — Beginning this evening, Wynn Las Vegas (Nasdaq: WYNN) and Encore will communicate to guests that they are not required to wear a mask if they are fully vaccinated and are required to wear a mask if they are not.  The resort trusts guests to take the appropriate precautions based on their personal vaccination status.

Likewise, company employees will follow a similar policy. The Company currently has a vaccination rate of 91 percent among its employees in Las Vegas and as a result, was granted permission by the Nevada Gaming Control Board to amend its occupancy and physical distancing requirements.  Effective May 10, the gaming areas at both Wynn and Encore were permitted to run at 100 percent occupancy and plexiglass dividers were removed from all table games and slot machines. 

Employees and guests of the resort will continue to follow health and safety guidelines and comply with current CDC and regulator guidelines to ensure and safe and healthy environment for all. 

About Wynn Las Vegas
Wynn Resorts is the recipient of more Forbes Travel Guide Five Star Awards than any other independent hotel company in the world and in 2021 was once again honored on FORTUNE Magazine’s World’s Most Admired Companies list for the thirteenth time. Wynn and Encore Las Vegas consist of two luxury hotel towers with a total of 4,748 spacious hotel rooms, suites and villas. The resort features approximately 194,000 square feet of casino space, 20 signature dining experiences, 11 bars, two award-winning spas, approximately 560,000 square feet of meeting and convention space, approximately 160,000 square feet of retail space as well as two showrooms, two nightclubs, a beach club and recreation and leisure facilities, such as the recently renovated Wynn Golf Club and 18-hole, 129-acre championship golf course. For more information on Wynn and Encore Las Vegas, visit press.wynnlasvegas.com.

MEDIA CONTACT:        
Deanna Pettit, Wynn Las Vegas
[email protected] 
702-770-2121

SOURCE Wynn Las Vegas

Related Links

http://www.wynnlasvegas.com

WYNN – Wynn Adds Virginia, Its 10th State, to Its Online Sportsbook Roster

Casino company and, recently, online sports betting operator Wynn Resorts (NASDAQ:WYNN) issued a press release Friday saying it has been approved to offer digital sportsbook services in the state of Virginia. After receiving the permit, company president Craig Billings said Wynn “[appreciates] the confidence the Virginia Lottery has in our ability to deliver a world-class, online betting experience.”

Wynn hasn’t activated its WynnBET sports betting platform in the Old Dominion yet, but says it’s planning to do so “soon.” The WynnBET app is currently available in three states — Michigan, New Jersey, and Colorado. It now has approval for seven other states: Massachusetts, Tennessee, Ohio, Indiana, Iowa, and Nevada, plus Virginia — bringing its total current or upcoming sports betting states to ten.

A racetrack official waving two checkered flags against a blue sky.

Image source: Getty Images.

Billings notes Wynn’s personnel “look forward to creating a new and exciting online betting offering for NASCAR fans” now that the Virginia sports betting permit is secured. This highlights the fact Wynn is an “Authorized Gaming Operator” for NASCAR as the result of a multi-year partnership announced last October.

Virginia is home to two of the main NASCAR facilities, the Richmond Raceway and the Martinsville Speedway, each of which host two NASCAR races annually, Casino.org reports. The casino and resort company plans to construct a “WynnBET lounge” at each racetrack, which will apparently also feature gambling according to Sportico, though the details are sketchy.

Wynn Resorts appears to be pushing forward development in the booming online sports betting sector as traditional gambling continues to struggle in the wake of COVID-19. Macao, an important gambling location and industry bellwether, witnessed a 136% revenue jump in February but remains below pre-pandemic levels, revealing just how far physical in-casino gambling still has to rebound before normality returns.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

WYNN – Wynn Resorts Announces Pricing of Public Offering of Common Stock

LAS VEGAS–(BUSINESS WIRE)–Wynn Resorts, Limited (NASDAQ: WYNN) (“Wynn Resorts”) today announced the pricing of its follow-on offering of 6,500,000 shares of its common stock in an underwritten public offering, which represents an increase of 1,000,000 shares of common stock in the previously announced size of the offering, at a price to the public of $115.00 per share. Wynn Resorts has also granted the underwriters a 30-day option to purchase up to an additional 975,000 shares of common stock. Wynn Resorts expects to use the net proceeds from the offering for general corporate purposes.

The offering is expected to close on February 11, 2021, subject to customary closing conditions.

Deutsche Bank Securities, Goldman Sachs & Co. LLC and BofA Securities are acting as joint lead book-running managers for the offering.

An effective shelf registration statement relating to these securities was previously filed with the Securities and Exchange Commission (the “SEC”) on November 6, 2019. The offering of these securities is being made only by means of a prospectus supplement and the accompanying prospectus. A final prospectus supplement describing the terms of the offering will be filed with the SEC. Before you invest, you should read the prospectus, the prospectus supplement and the documents incorporated by reference therein for more complete information about Wynn Resorts and the offering. You may get these documents for free by visiting the SEC’s website at www.sec.gov. Alternatively, copies of the prospectus supplement and accompanying prospectus, when available, may be obtained from Deutsche Bank Securities Inc., Prospectus Group, 60 Wall Street, New York, NY 10005, or by telephone at (800) 503-4611, or by email at prospectus.CPDG@db.com, Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by phone at (866) 471‐2526, or by email at prospectus-ny@ny.email.gs.com, or BofA Securities, Inc., Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, or by email at dg.prospectus_requests@bofa.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-looking Statements

This release contains forward-looking statements regarding the proposed offering. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those expressed in these forward-looking statements. For example, the offering is subject to market and other conditions outside of Wynn Resorts’ control. These forward-looking statements are not guarantees of future performance, conditions or results. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Wynn Resorts’ Annual Report on Form 10-K for the year ended December 31, 2019 and Wynn Resorts’ other periodic reports filed with the SEC. Wynn Resorts is under no obligation to (and expressly disclaims any such obligation to) update or revise its forward-looking statements as a result of new information, future events or otherwise.

WYNN – Wynn Resorts Gets Its WynnBET App Into Four More States

Casino company Wynn Resorts (NASDAQ:WYNN) is expanding the availability of its WynnBET online sports betting app to seven states from the current two, according to a press release yesterday, and is negotiating for access to more. At least some of the entries into new state markets come from partnerships, with WynnBET’s rollout in Iowa resulting from an alliance with in-state company Elite Casino Resorts.

Wynn’s efforts to enter the digital sports betting arena represent an effort to adapt to changing gambling conditions in the U.S. accelerated by the COVID-19 pandemic and lockdowns. With casinos entirely closed for months on end, people turned rapidly to online alternatives, driving a banner year for the internet sportsbook industry and its major players, such as Penn National Gaming (NASDAQ:PENN) and DraftKings (NASDAQ:DKNG).

A welcome sign on the border of Iowa.

Image source: Getty Images.

While COVID-19 vaccinations may help casinos avoid similarly long-lasting restrictions in 2021, online sports betting appears to be here to stay, particularly in view of its longtime popularity in the rest of the world, long before the pandemic occurred.

Wynn expects the launch of its sports betting to occur soon in Michigan, joining the two states where it is already operating, Colorado and New Jersey. The deals it announced yesterday will also enable offering its digital sportsbook in Indiana, Iowa, Massachusetts, and Nevada. According to the Las Vegas Review-Journal‘s reporting, Iowa legalized this form of wagering in 2019. However, online betting in the state was hampered by a legal requirement for in-person registration. This restriction expired on Jan. 1, 2021, and the Hawkeye state is predicted to see a $4 billion online betting handle by 2024, MarketWatch reports.