Analysis

Wynn sportsbook launch in Michigan will lead to minor Index move

The launch later this year of a Wynn Resorts-branded sportsbook will have a minor impact on the state’s Wedge Index rating given the company’s low profile in sports-betting.

The news that the Las Vegas gaming giant is set to enter the sports-betting arena in Michigan came with a trading update from supplier GAN this week.

The statement said Wynn intended to launch a full betting and gaming offering in the state in November.

The launch comes as part of a market access agreement between Wynn and the Sault Ste. Maria Tribe of Chippewa Indians. The tribe run five casinos in the state.

Early-mover status

GAN said this marks Wynn as an early mover in the Michigan market. Michigan’s legislators are likely to approve the opening of sports-betting and online gaming later in October.

The introduction of mobile sports-betting and online gaming is set to fire Michigan up the Wedge Index. The move will add at least 30 points to its rating total and move the state from T13th into the top 10.

The final placing will depend on how many brands launch in the state.

According to the Wedge Index sportsbook ratings, Wynn is in the second tier of sportsbooks. The sportsbook weightings are assessed according to consumer surveys.

If other more well-known brands enter the Michigan market it will add more points to the Index tally.

Get set, spend

The Michigan Gaming Control Board (MGCB) published draft rules in late July. Once they are issued the State Legislature will review them and decide on them in October, with the license request and approval process set to happen throughout November.

Jeffrey B. Berman, Chief Commercial Officer of GAN, said Wynn had “marketing capital” to spend in Michigan.

“We are pleased to onboard Wynn, with its national casino brand and substantial Michigan-region patron base, as a major operator client and are excited at the opportunity presented by potential roll-outs in multiple additional states in the future.”

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Scott Longley

Scott Longley has been a journalist since the early noughties covering personal finance, sport and the gambling industry. He has worked for a number of publications including Investor's Week, Bloomberg Money, Football First, EGR and GamblingCompliance.com. He now writes for online and print titles across a wide range of sectors.

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