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Wynn Resorts' (WYNN) WynnBET, Detroit Lions to Aid Sports Betting

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Wynn Resorts, Limited’s (WYNN - Free Report) WynnBET announced that it has reached a long-term partnership agreement with Detroit Lions.

Per the deal, WynnBET is expected to serve as the formal sports betting and gaming partner and house the WynnBET Sports Bar at Ford Field. Apart from offering in-house gaming opportunities, WynnBET will have a significant presence outside the Ford Field on football gamedays. Thus, the fans will have a chance to win an exciting bonanza at the Lions Pride Plaza pre-game festivities.

The WynnBET branded sports bar is going to be located in close proximity to section 222 and is expected to come online this season, welcoming fans above the age of 21. The WynnBET app will boost the overall online betting experience and have access to brand ambassadors, live betting lines, and food and drinks.

According to the terms of the deal, WynnBET will have access to both digital and traditional media. The unit will have a special visibility on the Lions' mobile app, social media accounts, preseason TV broadcast and regular-season pregame TV programing. On the Lions' mobile app, it will be the presenter of 'Free To Play' game. The lucky winner of the same will even get an option to win Wynn Las Vegas, Lions season-and single-game tickets.

Zacks Investment Research
Image Source: Zacks Investment Research

Sports Betting Boosting Growth

Wynn Resorts, one of the leading companies in the gaming and lodging industry, is well poised for growth, strategically. Its strong line-up of Wynn Interactive products, operating under the WynnBET, WynnSLOTS and BetBull brands, is digitally well-crafted to enhance the overall guest experience at the Wynn Resorts.

Wynn Resorts is focusing on sport-betting expansion to drive growth. In a bid to focus on on-line betting, the company announced the merger of Wynn Interactive with Austerlitz Acquisition Corp. To fuel growth, the company will invest $640 million.

WynnBET sports betting and online casino application was operational in New Jersey for quite some time. During the fourth quarter of 2020, the company unveiled WynnBET online sports and casino offerings in Colorado and Michigan. It also secured market access in Indiana, Iowa and Ohio, and received conditional licensing in Tennessee as well. The company launched WynnBET across six states.

Shares of Wynn Resorts have surged 30.8% compared with the Zacks Gaming industry’s 38.5% growth.

Zacks Rank & Key Picks

Currently, Wynn Resorts 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 are  Boyd Gaming Corporation  (BYD - Free Report) ,  Red Rock Resorts, Inc.  (RRR - Free Report) and  Century Casinos, Inc. (CNTY - Free Report) , each sporting a Zacks Rank #1 at present.

Boyd Gaming has a three five-year earnings per share growth rate of 19.8%.

Red Rock has a trailing four-quarter earnings surprise of 166.2%, on average.

Century Casinos’ 2021 earnings are expected to surge 119.9%.

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