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Wynn Resorts (WYNN) Adds Its Reward Program to WynnBET

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Wynn Resorts, Limited’s (WYNN - Free Report) WynnBET recently announced the integration of Wynn Rewards program into its online platforms. The initiative enables WynnBET and Wynn Resorts patrons to earn rewards through mobile, desktop and on-property play.

In this regard, Wynn Interactive CEO Craig Billings stated. "Our WynnBET Wynn Rewards program will allow our players the opportunity to redeem offers through their WynnBET app or on property at Wynn & Encore Las Vegas and Encore Boston Harbor.”

Wynn Rewards comprises three member tiers — Red, Platinum and Black. Members new to the platform are entitled to begin with Red tier, while previous Wynn Rewards members need to verify their accounts to earn points through online sports betting and iGaming. Moreover, the company stated to reward early WynnBET players with tier upgrades based on historical play.

Nonetheless, the initiative allows members to earn FREECREDIT and COMPDOLLARS simultaneously through WynnBET. Members can avail the offerings through sports wager or playing online casino games (in New Jersey and Michigan only). FREECREDIT can be used for mobile, desktop and select in-person gaming. However, redemption of COMPDOLLARS is restricted to physical Wynn Resorts properties such as hotel stays, food and beverage, retail and spa treatments.

Going forward, the company announced the availability of Wynn Rewards for all players in Colorado, New Jersey, Virginia, Indiana and Tennessee by August-end. Also, it revealed that Wynn Rewards will be integrated in Michigan later this Fall.

Increased Focus on WynnBET

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. Currently, the company has secured market access in New Jersey, Colorado, Michigan, Virginia, Indiana and Tennessee. With several pending license applications in process, WynnBET is poised for rapid expansion in 2021.

During second-quarter 2021, the company launched its web applications in Indiana, Colorado, Tennessee, New Jersey and Virginia. It has strengthened third-party partnerships through agreements with the Detroit Lions, the Colorado Rockies and Cumulus Media.  The company collaborated with several engaging content creators to develop sports themed program. Going forward, the company anticipates solid revenue generation on the back of new product features and unique marketing campaign.

Zacks Investment Research
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Shares of Wynn Resorts have gained 7.2% in the past year compared with the industry’s 14.5% growth.

Zacks Rank & Key Picks

Wynn Resorts currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the same space include Boyd Gaming Corporation (BYD - Free Report) , Red Rock Resorts, Inc. (RRR - Free Report) and Golden Entertainment, Inc. (GDEN - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Boyd Gaming has a three-five year earnings per share growth rate of 40.8%.

Red Rock has a trailing four-quarter earnings surprise of 228%, on average.

Golden Entertainment’s 2021 earnings are expected to surge 226.4%