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Wynn Resorts (WYNN) Announces Partnership With Colorado Rockies
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Wynn Resorts, Limited’s (WYNN - Free Report) WynnBET recently announced collaboration with a Major League Baseball club — Colorado Rockies — becoming its sports betting partner.
Per the agreement, WynnBET will have access to the club’s wide range of assets as well as host several premium hospitality events and experiential activations on the main and external concourses at Rockies' home games. To this end, WynnBET signage and branding will be made visible behind home plate as well as on the main video boards in left field (pregame and in-game).
Moreover, the association involves integration of WynnBET branding into Rockies' social media accounts and team portal through the MLB Ballpark app as well as significant advertising presence on Rockies.com.
Meanwhile, the company has undertaken a number of initiatives to boost fan experience. This includes ceremonial first pitch, participation in special on-field ceremonies, in-game promotions and Spin Wheel opportunities.
Sports Betting to Drive Growth
The company is focusing on sport betting expansion to drive growth. WynnBET is anchored by its eponymous mobile sports and casino betting app providing one-of-a-kind experiences, unique social betting mechanics, and a high-quality user interface. We believe that with increased smartphone adoption and improving Internet infrastructure globally, growth in the gambling market is likely.
Currently, WynnBET has secured market access in New Jersey, Colorado, Michigan, Virginia, Indiana and Tennessee. Nonetheless, with several pending license applications in process, WynnBET is poised for rapid expansion in 2021.
Price Performance
Image Source: Zacks Investment Research
Shares of Wynn Resorts have gained 58.7% in the past year compared with the industry’s 53.2% growth. Notably, the company is benefitting from improved non-gaming revenues and expansion in domestic markets. Despite the pandemic, the company is confident about prospects in Macau. Meanwhile, Wynn Resorts has been offering various promotional allowances and undertaking initiatives to attract gambling patrons. Although the company’s business in Macau and Las Vegas has been affected by the coronavirus pandemic, the demand is gradually improving.
Some better-ranked stocks in the same space include Accel Entertainment, Inc. (ACEL - Free Report) , Red Rock Resorts, Inc. (RRR - Free Report) and Boyd Gaming Corporation (BYD - Free Report) . Accel Entertainment and Red Rock sport a Zacks Rank #1, while Boyd Gaming carries a Zacks Rank #2 (Buy).
Accel Entertainment’s 2021 earnings are expected to surge 785.7%
Red Rock has a trailing four-quarter earnings surprise of 116.2%, on average.
Boyd Gaming has a three-five year earnings per share growth rate of 19.8%.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Bigstock
Wynn Resorts (WYNN) Announces Partnership With Colorado Rockies
Wynn Resorts, Limited’s (WYNN - Free Report) WynnBET recently announced collaboration with a Major League Baseball club — Colorado Rockies — becoming its sports betting partner.
Per the agreement, WynnBET will have access to the club’s wide range of assets as well as host several premium hospitality events and experiential activations on the main and external concourses at Rockies' home games. To this end, WynnBET signage and branding will be made visible behind home plate as well as on the main video boards in left field (pregame and in-game).
Moreover, the association involves integration of WynnBET branding into Rockies' social media accounts and team portal through the MLB Ballpark app as well as significant advertising presence on Rockies.com.
Meanwhile, the company has undertaken a number of initiatives to boost fan experience. This includes ceremonial first pitch, participation in special on-field ceremonies, in-game promotions and Spin Wheel opportunities.
Sports Betting to Drive Growth
The company is focusing on sport betting expansion to drive growth. WynnBET is anchored by its eponymous mobile sports and casino betting app providing one-of-a-kind experiences, unique social betting mechanics, and a high-quality user interface. We believe that with increased smartphone adoption and improving Internet infrastructure globally, growth in the gambling market is likely.
Currently, WynnBET has secured market access in New Jersey, Colorado, Michigan, Virginia, Indiana and Tennessee. Nonetheless, with several pending license applications in process, WynnBET is poised for rapid expansion in 2021.
Price Performance
Shares of Wynn Resorts have gained 58.7% in the past year compared with the industry’s 53.2% growth. Notably, the company is benefitting from improved non-gaming revenues and expansion in domestic markets. Despite the pandemic, the company is confident about prospects in Macau. Meanwhile, Wynn Resorts has been offering various promotional allowances and undertaking initiatives to attract gambling patrons. Although the company’s business in Macau and Las Vegas has been affected by the coronavirus pandemic, the demand is gradually improving.
Zacks Rank & Key Picks
Wynn Resorts currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the same space include Accel Entertainment, Inc. (ACEL - Free Report) , Red Rock Resorts, Inc. (RRR - Free Report) and Boyd Gaming Corporation (BYD - Free Report) . Accel Entertainment and Red Rock sport a Zacks Rank #1, while Boyd Gaming carries a Zacks Rank #2 (Buy).
Accel Entertainment’s 2021 earnings are expected to surge 785.7%
Red Rock has a trailing four-quarter earnings surprise of 116.2%, on average.
Boyd Gaming has a three-five year earnings per share growth rate of 19.8%.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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