The operator will no longer target the Empire State’s online market but is bullish on securing one of the three casino licenses
WynnBet, one of the pioneers in the New York online sports betting market, will no longer be taking bets, heralding the coming of ESPN Bet to the Empire State.
The Wynn-owned sportsbook stopped taking bets on Monday, putting an end to over two years of operation. New York has now been included in WynnBet’s list of jurisdictions where it no longer operates.
WynnBet Sportsbook users in the state will be able to access their accounts and make withdrawals until 11 am on August 29. With an entire month on their hands, fans should take back all funds they have remaining before WynnBet departs from New York for good.
The exit from the Empire State follows the operator’s departure from multiple jurisdictions. In August 2023, WynnBet Sportsbook ceased operations in eight other jurisdictions. At that time, the company said that its operation in New York was under review, implying that a potential exit was on the table.
Wynn Resorts’ chief financial officer attributed the winding down of WynnBet to the lack of significant iGaming-related legislative strides. As a result, the casino and hospitality company decided to curtail its investment in the brand.
In the meantime, Wynn’s place will be taken by Penn Entertainment’s ESPN Bet brand. An emerging player in the highly competitive market, ESPN Bet has great ambitions and is optimistic about the opportunities offered by the NY market.
Penn Entertainment purchased Wynn’s sports betting license in February, paying $25 million for the chance to tackle one of the biggest markets in the United States.
ESPN Bet is expected to launch in New York by the autumn, filling up the vacuum created by WynnBet’s exit. The latter company, meanwhile, has not given up on New York completely. While the operator decided to pull back from the online gaming market, it remains bullish on securing one of the three to-be-awarded downstate New York casino licenses.
Wynn’s has set its sights on Hudson Yards, planning to construct a state-of-the-art casino. However, this might be an uphill battle considering that the biggest players in US gaming are going to participate in that race.
Despite that, Wynn remains optimistic that its proposal has sufficient traction and hopes to be allowed to proceed with its plans despite the local opposition.
