Wynn Resorts and BetBull Limited Announce U.S. Sports Betting Partnership
October 11 2018 - 4:30PM
Business Wire
Wynn Resorts, Limited (NASDAQ:WYNN) announced today that it has
entered into a strategic partnership with BetBull Limited
(“BetBull”), a Europe-based digital sports betting operator, to
pursue sports betting opportunities in the emerging U.S. market.
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.
In conjunction with the formation of the strategic partnership,
Wynn Resorts will make a minority equity investment in BetBull.
Wynn Resorts will own 22.5% of BetBull on a fully-diluted basis
upon closing of the investment which will occur in due course
subject to customary closing conditions. Moelis & Company LLC
acted as financial advisor to Wynn Resorts.
About Wynn Resorts
Wynn Resorts, Limited is traded on the Nasdaq Global Select
Market under the ticker symbol WYNN and is part of the S&P 500
Index. Wynn Resorts owns and operates Wynn Las Vegas
(wynnlasvegas.com), Wynn Macau (wynnmacau.com) and Wynn Palace,
Cotai (wynnpalace.com).
Wynn and Encore Las Vegas feature two luxury hotel towers with a
total of 4,750 spacious hotel rooms, suites and villas,
approximately 192,000 square feet of casino space, 22 dining
experiences featuring signature chefs and 11 bars, two
award-winning spas, approximately 290,000 square feet of meeting
and convention space, approximately 110,000 square feet of retail
space as well as two showrooms; three nightclubs, a beach club and
recreation and leisure facilities. A luxury retail Strip-front
expansion, Wynn Plaza, is currently under construction and is
scheduled to debut the second half of 2018.
Wynn Macau is a luxury hotel and casino resort located in the
Macau Special Administrative Region of the People's Republic of
China with two luxury hotel towers with a total of 1,008 spacious
rooms and suites, approximately 273,000 square feet of casino
space, casual and fine dining in eight restaurants, approximately
31,000 square feet of meeting and convention space, approximately
59,000 square feet of retail space, and recreation and leisure
facilities including two opulent spas, a salon and a rotunda
show.
Wynn Palace is a luxury integrated resort in Macau. Designed as
a floral-themed destination, it boasts 1,706 exquisite rooms,
suites and villas, approximately 420,000 square feet of casino
space, 11 food and beverage outlets, approximately 37,000 square
feet of meeting and convention space, approximately 106,000 square
feet of designer retail, SkyCabs that traverse an eight-acre
Performance Lake, an extensive collection of rare art, a lush spa,
salon and recreation and leisure facilities.
Wynn Resorts is currently constructing Encore Boston Harbor
located in Everett, Massachusetts.
About BetBull Limited
BetBull is the next generation betting company that offers users
a truly unique experience, the first of its kind to combine
free-to-play game mechanics with a mobile-first and truly social
design.
Founded in 2015 by serial entrepreneur Sadok Kohen, BetBull 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181011005901/en/
Wynn Resorts, LimitedMediaDeanna Pettit-Irestone,
702-770-2120pr@wynnlasvegas.comorInvestor
Relations702-770-7555investorrelations@wynnresorts.com
Wynn Resorts (NASDAQ:WYNN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Wynn Resorts (NASDAQ:WYNN)
Historical Stock Chart
From Apr 2023 to Apr 2024