Wynn lands deal with Blue Wire for Las Vegas podcast studio

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Posted: Feb 25, 2021, 10:05 a.m.

Last update on: February 25, 2021, 01:29 a.m.

In an effort to strengthen its WynnBET unit, Wynn Resorts (NASDAQ: WYNN) is investing $ 3.5 million in sports podcast provider Blue Wire. The deal includes plans for a podcast studio in the lobby of the famous Wynn Las Vegas integrated resort.

Wynn Blue Thread
Wynn and Encore Las Vegas. The games company has an agreement with the Blue Wire podcast network. (Picture: Las Vegas Review)

The studio is slated to be up and running this summer ahead of the 2021 football season. Blue Wire personalities will record podcasts there, some including professional athletes as guests, with the aim of attracting guests to the hotel and visiting. the bookmaker.

Blue Wire is a sports podcast platform bringing together the next generation of journalists, influential fans, commentators – from social media to former developing athletes, ” according to the company.

The media company offers more than 100 podcasts, ranging from team-specific rates and combat sports to e-sports, fantasy and pop culture and commentary.

Blue Wire has committed to the deal for three years, and as part of the deal, it will promote the WynnBET brand on its podcasts.

WynnBET joins the fray of media and games

Some industry watchers compare the Blue Wire / WynnBET deal to the one reached last month between MGM Resorts International and athleticism. Under this agreement, athleticism will launch a sports betting center powered by BetMGM on its site, and the two companies will have a broad content sharing partnership.

For Wynn, the relationship with Blue Wire makes sense, because while the casino operator prioritizes interactive games and sports betting, it has been one of the big names without a media partner. This is a situation that deserves to be rectified, as analysts estimate that the combination of internet gaming, media and sports could generate $ 30 billion in revenue by 2030.

Rumors have surfaced regarding Wynn’s plans for a partnership with sports betting media, with reports the company was pitching the tires on a regional sports networks (RSN) pact with Sinclair Broadcast Group. Bally finally got this partnership.

Potential victory for Wynn

For the games company, investing $ 3.5 million in Blue Wire as a way to grow the WynnBET brand is relatively low risk. Putting the $ 3.5 million in context, Wynn has a market cap of $ 15.04 billion and is spending $ 3.5 million in a matter of days to operate his two integrated resorts in Macau.

As part of the Blue Wire deal, Wynn not only gets advertising in various podcasts, he gets an equity stake in the company. The amount of this investment was not disclosed, but Blue Wire recently raised $ 5 million in Series A capital.

WynnBET has operations in Colorado, Michigan and New Jersey, and the company has a provisional license in Tennessee and market access in Iowa and Ohio. He is also awaiting a pending application in Virginia.

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