Wynn Resorts is making a $3.5 million investment in the sports podcasting network Blue Wire in a deal that will see a podcast recording studio added to the Wynn Las Vegas lobby.
The new partnership will also look to prove Wynn Resort’s sports betting business on Blue Wire podcasts and a new branded podcast called WynnBet, The Verge reports.
The Wynn’s lobby studio is geared to building interest in events that take place at the resort. That could include boxers for a fight hosted at the Wynn, or athletes or entertainers who are staying at the hotel that could appear on Blue Wire podcast.
Wynn Resorts President Craig Billings told The Verge they will begin promoting the podcast studio during NCAA's March Madness with an official opening expected this summer. Blue Wire has reportedly committed to using the site for the next three years.
Blue Wire CEO Kevin Jones told the website that Wynn Resorts will take an equity stake in the podcast company. It will also get some guaranteed in-podcast advertising, although executives shared few details of their partnership.
Blue Wire recently raised $5 million as part of its series A funding, and the network hosts more than 140 shows, hyper-focused on sports. That was in addition to the $1.2 million it raised last February.
This deal echoes another in the industry. The Athletic, which also specializes in sports content and podcasts, partnered with BetMGM in January to launch an entire sports betting hub on its website, along with deeper content integrations.