Las Vegas-based Wynn Resorts entered into a partnership with Europe-based sports betting operator BetBull Ltd. and the companies said Thursday they would to seek out sports wagering prospects in the U.S.
As part of the deal, Wynn will take a 22.5 percent stake in BetBull.
Wynn made the announcement in a two-paragraph statement.
The company said the partnership positions Wynn and BetBull capitalize on opportunities by combining Wynn nationally recognized brand with BetBull’s digital sports betting operations capabilities and technology.
Privately-held BetBull has a presence in Malta and the United Kingdom. The company is backed by the former CEOs of 888 Holdings and Bwin, as well as several other prominent investors.
The deal comes a few weeks after Wynn’s longtime sports book director, Johnny Avello, left his position to join daily fantasy sports giant DraftKings to help the company launch a sport book operation.
