Wynn Resorts is readying itself for a move into the growing U.S. sports betting market by announcing a partnership with European operator BetBull Ltd. to provide sports betting services.
As part of the deal, Wynn Resorts will acquire a 22.5 percent stake in BetBull for an undisclosed price. BetBull is a betting company that combines free-to-play game mechanics with a mobile-first and truly social design, the company said in a press release.
BetBull was founded in 2015 by entrepreneur Sadok Kohen, and has a presence in Malta and the United Kingdom. The company is backed by former CEOs of 888 Holdings and Bwin, as well as several other prominent investors, the release said.
“The strategic partnership will position both parties to capitalize on the developing U.S. opportunity by combining Wynn Resort’s nationally recognized brand with BetBull’s digital sports betting operations capabilities and technology,” the casino operator said in the release.
Wynn Resorts operates two properties in Las Vegas and is scheduled to open a third in Boston next year. It joins a growing list of U.S. companies partnering with European sports betting operators.
Eldorado Resorts last month signed a partnership with U.K.-based William Hill that will give the casino operator a 20 percent stake in the sports betting company’s U.S. business. MGM Resorts International in July launched a joint venture with U.K.-based GVC Holding to offers sports betting operations around the U.S.
