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Wynn Resorts, BetBull team up on sports betting

Wynn Resorts Ltd. said Oct. 11 that it has partnered with European sports betting operator BetBull Ltd. to pursue sports betting opportunities in the U.S.

The Las Vegas-based casino operator said it will make a minority investment in BetBull, but it did not disclose the figure. Upon completion of the investment, Wynn Resorts will hold a 22.5% stake in BetBull on a fully diluted basis.

Moelis & Co. LLC acted as financial adviser to Wynn Resorts.

The transaction is subject to customary closing conditions.