WynnBet has exited the Massachusetts sports betting market.
The online casino and sports wagering operator informed customers on Monday that it is immediately shuttering operations of its online wagering platform in Massachusetts after launching in the state last year. WynnBet is no longer accepting online wagers in the Bay State after the operator submitted a leave request to the Massachusetts Gaming Commission (MGC) earlier this month. The request was approved by the MGC and will also see Betr Sportsbook exit Massachusetts at a later date.
WynnBet is allowing customers to withdraw their account balances within the next 30 days and will find solutions for pending future and parlay bets.
Despite no online wagering for WynnBet users in Massachusetts, the operator will continue to maintain a retail presence at Encore Boston Harbor under its Category 1 license with the MGC.
The facility features more than 70 TVs, a 123-foot-long video wall, and self-service kiosks.
WynnBet quickly downsizing
The closure of WynnBet’s online operations in Massachusetts comes after the operator announced that it would be exiting eight of the 12 U.S. markets it was licensed in.
The markets included Arizona, Colorado, Indiana, Louisiana, New Jersey, Virginia, and others. As of Feb. 12, WynnBet is only operational with online wagering in Michigan and New York, America’s largest online gaming market. Despite having access to the robust gaming market in New York, WynnBet is also considering exiting the Empire State.
“In light of the continued requirement for outsized marketing spend through user acquisition and promotions in online sports betting, we believe there are higher and better uses of capital deployment for Wynn Resorts shareholders,” said Wynn Resorts CFO Julie Cameron-Doe last year.
An available license in New York due to WynnBet’s potential exit could pave the way for ESPN Bet, a rebrand of Barstool Sportsbook, to gain market access following previous failed attempts.