WynnBet has officially withdrawn its sports betting app from the Massachusetts market.
The company informed customers on Monday that it would immediately cease all online sports betting operations in the state. The move comes almost a year after WynnBet officially launched in Massachusetts in March 2023. The company was the first sports betting operator to be approved for a Massachusetts sports betting license in 2022.
According to a previous report from the company, a request was submitted to the Massachusetts Gaming Commission (MGC) earlier this month. The request, along with a similar request from Betr, was approved by the MGC.
All customers will have 30 days to withdraw funds from their accounts while a decision on pending futures bets and parlay wagers will be made within the coming days.
Retail to Remain in Play
While WynnBet has opted to exit the online market, its retail operations in at Encore Boston Harbor will remain open. At present, the sportsbook is one of three retail outlets available in the state.
More State Exits to Follow
Last year, Wynn Resorts CFO Julie Cameron-Doe confirmed that the company would exit eight of the 12 states that it is currently operating online sports betting in.
“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.”
As of today, WynnBet’s online sportsbook is now only operational in Michigan and New York. However, there are suggestions that the company is considering its position in New York.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.