Wynn Resorts will also make a minority equity investment in BetBull
Wynn Resorts and BetBull Limited announce U.S. sports betting deal
Wynn Resorts will own 22.5% of BetBull on a fully-diluted basis upon closing of the investment which will occur in due course subject to customary closing conditions.
2018-10-12
Reading time 28 seg
Both companies announced Thursday that they have entered into a strategic partnership to pursue sports wagering opportunities in the emerging U.S. market.
Wynn Resorts' partnership with BetBull, a Europe-based digital sports betting operator, will position both parties to capitalize on the developing U.S. opportunity by combining Wynn Resort’s nationally recognized brand with BetBull’s digital sports betting operations capabilities and technology.
In conjunction with the formation of the strategic partnership, Wynn Resorts will make a minority equity investment in BetBull. Wynn Resorts will own 22.5% of BetBull on a fully-diluted basis upon closing of the investment which will occur in due course subject to customary closing conditions. Moelis & Company LLC acted as financial advisor to Wynn Resorts.
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