WynnBet Exits New York Market
WynnBet is no longer operational in New York.
ESPN Bet will replace WynnBet in the New York sports betting market.
LISTEN TO THIS ARTICLE:On July 30, the Wynn Resorts iGaming and sports betting brand pulled out of the New York betting market after operating in the state for over two years. Following the development, the company’s website has been updated to include New York among the 10 jurisdictions where its services are no longer available.
Since its launch in the Empire State in February 2022, Wynnbet has reported $233 million in handle and earned $11.3 million in revenue. The figures rank it seventh in handle and eighth in revenue among the state's nine licensed online sports betting operators.
New York marks the third state Wynnbet will exit as part of Wynn Resorts’ broader plan to downsize the sportsbook’s operations in the US. The move follows its earlier departures from Massachusetts' online sports betting and Michigan's iGaming markets.
In August, the operator announced that it would cease operations in eight of the 12 states where Wynnbet was available.
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ESPN Bet to Replace WynnBet in New York
However, WynnBet will not be leaving a void as ESPN Bet is gearing up to take its place in the New York sports betting market. In February, PENN Entertainment acquired WynnBet's New York sports betting license in a deal worth $25 million, the same amount WynnBet paid to secure the license.
Pending regulatory approval, ESPN is set to launch in New York and take over Wynnbet’s existing customer base in the state.
New York has the largest sports betting market in the United States. The state has consistently seen record-high monthly handles with over $1 billion wagered monthly.
In June, New York nine operators collected $1.47 billion in total player wagers and reported a gross gaming revenue of $133.9 million.
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