Wynn Resorts may be looking to sell its online sports book at a major discount

Not long ago, Wynn resorts had a $3 billion dollar valuation on its online sports betting business, however new reports coming out are stating that Wynn might be looking to sell the sports book for $500 million. With other company’s like DraftKings and FanDuel offering up to $1,000 dollars to sign up for new members, Wynn is in a tough spot where the cost to acquire a user may not be cost effective for the company.

At this time, a Wynn spokesman said the company would not comment on what he called market speculation and a rumor. There is no official news about them selling the sports book, but with a tough road ahead and no launch in New York even though they have the license, we might be seeing this sports book trade hands soon.