Have you ever thought about opening an online sportsbook in the U.S. market with a New York online gambling license? Today might just be your chance to Buy an Online Sports Betting Business for $500 Million. According to several news source, Las Vegas casino giant, Wynn Resort is looking to sell its online Sports betting unit.
Yes, we are talking about Wynn Interactive which includes the WynnBet Mobil Sports Betting App. If that was not enough, Wynn interactive happens to have a New York Online Sports Betting License. In addition, the brand is the official gaming partner of the Las Vegas Raiders. Add NBA legend Shaquille O’Neal as a mobile sports betting ambassador and you have a pretty good deal.
The perks of owning WynnBet Interactive are quite attractive but the NY Online Sports Betting License is probably the prize. Or not… This is because New York only has 9 online game licenses available. However, it also comes with a 51% tax rate making it a long and difficult process to make a profit.
Buy an Online Sports Betting Business at a Discount
Setting aside the NY online license and their sports betting software and platform, it is actually a good deal. This is because last year, an evaluation of Wynn Interactive gave it a worth of $3 billion. However, the situation is no longer the same as gambling analysts now value Wynn Interactive at $700 million. Nevertheless, it is still a great deal for potential buyers since it is more or less a gambling turnkey solution.
There are many speculations as to why Wynn Resort wants to sell their online sports betting unit. The most obvious reason would be the cost of operation and of making a profit. This is because gaming operators must spend a large amount of money to get new customers. Depending on the location and promotion, it could take years before they can see a profit from a single player.
A wynn spokesperson would not comment on market speculation and rumors concerning any sales. However, they were clear that “they desire to operate that business in way that will actually create long-term shareholder value”.
Of course, owning an online gambling operation of this magnitude is out of reach for most online bookies. However, it does not mean you should give up on becoming an online bookie and owning your own gambling operation. This is because PricePerPlayer.com can make your dreams come true for $5 or Less Per Player!