Wynn Eyes Sale Of Sports Betting Division WynnBET

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Las Vegas-centered Wynn Resorts expects to hard cash out of the on line sports activities betting business, according to a report from The New York Post.

The on line casino operator has released its gaming website WynnBET in a handful of marketplaces. The casino operator is reportedly seeking to provide the unit for $500 million.

That would be a decline from an earlier valuation.

“The market place is actually not sustainable right now,” Wynn CEO Matt Maddox said on a Nov. 10 earnings call. “Competitors are expending as well a great deal to get prospects. And the economics are just not something that we’re going to take part in.”

Wynn has previously regarded getting Wynn Interactive public via a SPAC.