Another partnership for the lucrative Michigan gambling industry.
WynnBET announced a marketing deal Thursday with the Detroit Lions. It was the online/mobile sportsbook’s first with an NFL team.
There will be a WynnBET-branded sports bar at Ford Field, located near section 222, per the presser.
The market wasn’t impressed by the announcement. The Wynn Resorts share price was down more than 1% in early trading Thursday. That said, it’s not like a deal of this nature wasn’t expected. WynnBET is trying to gain market share in the Wolverine State’s robust online gambling market.
WynnBET is far behind the Michigan online sports betting leaders. According to state figures, WynnBET handled $1.4 million in bets in May, the most recent month of reporting available. That was about half a percent of the statewide mobile total and light years behind market leader FanDuel, which had a handle of $71.2 million. WynnBET is one of 12 online operators in the state.
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