Online gambling venture WynnBET, operated by Wynn Resorts, is reportedly preparing to leave the Massachusetts gambling market. The Massachusetts Gaming Commission (MGC) has announced that it will discuss WynnBET’s request to exit the market at its upcoming meeting. The agenda for the meeting includes a section dedicated to the regulator’s discussion of WynnBET’s request to cease operations and approval of its cessation plan.
Industry experts are concerned about WynnBET’s future, citing its struggles to replicate the success of its parent company’s retail business. In 2023, Wynn Resorts announced a shift in focus to online operations in states where it already has a retail presence. However, the potential exit from Massachusetts, one of Wynn Resorts’ strongest retail states, raises concerns about the brand’s online prospects.
WynnBET has faced challenges in multiple states and recently announced its exit from eight states. Some attribute WynnBET’s struggles to its parent company’s reluctance to actively compete in the markets where it operates, hindering its ability to gain significant market share. However, if Wynn Resorts secures a casino permit in downstate New York, it may provide a lifeline for WynnBET’s future prospects.
Meanwhile, Miami-based micro-betting specialist betr has also announced its decision to exit the Massachusetts sports betting market by the end of the year. Co-founded by Joey Levy and Jake Paul, betr has struggled to gain traction in The Bay State, prompting questions about the viability of the micro-betting model. While betr remains optimistic about other jurisdictions, its challenges in Massachusetts raise doubts about the success of micro-betting in competitive markets.
In the midst of these developments, the Massachusetts Gambling Commission has reported robust industry results for December, signaling a healthy gambling market in the state.