WynnBET and NASCAR have agreed to a multi-pronged partnership as Wynn Resorts seeks to differentiate itself in Virginia, where mobile sports betting will soon be possible. WynnBET plans to offer in-race action through its app while setting up gambling lounges at Martinsville Speedway and Richmond Raceway.
WynnBET is already active in Colorado, Indiana, Michigan and New Jersey, with Wynn Resorts president and CFO Craig Billings saying the company plans to be early in the markets that will soon open up. Billings has previously said Wynn’s strategy is “very focused on high-quality products in very selected markets.”
“We love relationships that are localized because they can be focused on the places where there will actually be revenue,” Billings said. A 2019 report found that a mature sports betting market in Virginia could generate over $400 million in revenue. “We intend to be a meaningful share of that,” he said. The company is currently applying for an operating license in the state. Up to 12 could be granted by the end of the year.
NASCAR SVP and Chief Digital Officer Tim Clark said a deal like this one likely wouldn’t have been possible before last year’s merger with International Speedway Corporation brought together track operators and the sport’s sanctioning body. “That has created a really unique opportunity [in allowing deals that merge physical and digital tie-ups],” he said. “When you think about the trajectories of the two brands—Wynn and NASCAR—there’s a lot of similarities. These are two iconic brands with really long, rich histories that are now both getting into new territories.”
NASCAR heads to Martinsville this Sunday before concluding its season in Phoenix Nov. 8.