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Wynn Resorts announced late last week the closing of its online sports betting and internet gaming platform, WynnBet, in certain jurisdictions, including here in the Garden State.

WynnBet, which first launched in New Jersey in 2020, has operated its platform under the gaming licenses held by Caesars Entertainment. While state gaming numbers do not offer financial data for individual operators, WynnBet was not believed to hold a major piece of the market share in the competitive sports betting and iGaming markets.

“In light of the continued requirement for outsized marketing spend through user acquisition and promotions in online sports betting, we believe there are higher and better uses of capital deployment for Wynn Resorts shareholders,” said Wynn Resorts Chief Financial Officer Julie Cameron-Doe in a Aug. 11 statement. “While we believe in the long-term prospects of iGaming, the dearth of iGaming legislation and the presence of numerous other investment opportunities available to us around the globe have led us to the decision to curtail our capital investment in WynnBet to focus primarily on those states where we maintain a physical presence.”

Wynn Resorts does not hold a physical presence in New Jersey.

In addition to the Garden State, WynnBet is also planning to wind down operations in Arizona, Colorado, Indiana, Louisiana, Tennessee, Virginia and West Virginia “as soon as possible.” Nevada and Massachusetts operations will continue unaffected, while New York and Michigan remain under review.

While “as soon as possible” was the initial language used, WynnBet customers in New Jersey have been notified that the shutdown is effective immediately. Customers will have access to their accounts until Oct. 11 to settle any outstanding bets and to withdraw any remaining money.

WynnBet says it will contact any customers who have bets that will not be settled by that October date and that it will mail a check for any account holders who do not withdraw their balances by then.