WynnBET, the sportsbook and iGaming arm of Wynn Resorts marked its second anniversary as an official betting partner of the New York Jets this September as it gears itself for a fresh push in the state’s sports betting sector.
The WynnBET Green Room, a luxury club space, opened in 2021 at the Metlife Stadium and offers ticketed fans all-inclusive food and drinks alongside sports betting content and big-screen action.
But as New York’s sixth biggest sports betting provider completes a rationalization of its US operations, exiting eight states, there are questions about its future in the New York sports betting market.
Will WynnBET remain in the Empire State long term and can we expect to see the Green Room firmly positioned as the centerpiece driving its growth strategy?
As well as dining and drinks, the 4,800-square-foot Green Room also has a retail sportsbook that enables Jets fans with tickets the option to place bets at the counter. WynnBET also sponsors the team’s podcast network as part of the wider deal.
The Green Room is one of several lounges at the Metlife Stadium and is certainly one of the most luxurious. Themed in the WynnBET brand colors - dark oak, cognac and olive green, the space has ample seating to view the field through floor-to-ceiling windows from its 100-Level Section vantage point.
WynnBET runs occasional promotions for online customers to win VIP tickets for the Green Room for both single Jets games and full season passes ahead of the NFL’s annual kick-off.
WynnBET chiefs have regularly stated during 2023 that the US sports betting industry remains somewhat unsustainable. That’s particularly true of its view of the New York market with its high tax rate and fierce competition.
Having exited the sportsbook sector in eight states during the summer, WynnBET has remained operating in New York. The company has suggested it will keep its Empire State offering under review however.
With refreshed betting platforms launched ahead of the football season, WynnBET has likely remained in New York partly because of its Metlife presence. The brand is also still live with its online sportsbook in Nevada and Massachusetts where it also has bricks-and-mortar venues.
It’s clear that WynnBET has yet to make any serious money in New York but then few sportsbook operators have aside from the market leaders, FanDuel, DraftKings, Caesars and BetMGM.
WynnBET has also scaled back its welcome offers recently in New York. This means others such as BetMGM, which are still offering generous incentives, might be more attractive for new customers looking for the best NY sportsbook promos.
The reason WynnBET opted not to shutter its New York operation is likely that its execs believe that it can still leverage a competitive advantage over assorted rivals owing to its land-based presence at the home of the Jets. Remaining in states where it has no bricks-and-mortar properties probably made little sense.
Wynn will be fully aware that its sports betting product is destined to be a mid-pack runner or be at the rear of the pack. That means remaining so in the dozen states in which it was live earlier this year wasn’t a sound strategy.
However, remaining in New York means WynnBET can continue to raise brand awareness via its partnership with the Jets, both for sports betting and the potentially more lucrative upcoming online casino market.
It can also service Green Room customers and the wider huge pool of Gang Green followers with mobile betting options both inside the Metlife and at home. It all indicates that WynnBET is likely to be active in New York for a time to come.