Sports Betting

WynnBET’s iGaming operations in Michigan were acquired by Caesars

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In Michigan, Caesars Entertainment acquired WynnBET’s iGaming market access. This was announced on Tuesday by Caesars. They secured a long-term rights extension through the Sault Ste. Marie Tribe of Chippewa Indians. This will allow Caesars to operate in Michigan. The Michigan Control Game Board worked with the Sault Ste. Marie Tribe of Chippewa Indians to make this possible. In the Wolverine State, they will still offer WynnBET’s platform for now. However, they plan to transition to a new online casino brand in the second half of 2024.

What did Caesars gain by acquiring WynnBET’s iGaming operations in Michigan?

Earlier in 2024, Caesars announced that they would be acquiring WynnBET’s online casinos in the US. Before acquiring WynnBET, the industry operator already had a retail and online sportsbook in Michigan. They also have the Caesars Palace Online Casino platform. Their acquisition of WynnBET enhances their iGaming net growth. WynnBET is now one of several gaming brands that Caesars has control of. The others include Horseshoe, Harrah’s, Tropicana, and Planet Hollywood. Austin Lowes is the chairman of the Sault Ste. Marie Tribe of Chippewa Indians. He had this to say about partnering with Caesars.

It was paramount that our next partner in iGaming possessed both expertise in the U.S. iGaming market and a history of strong partnerships in Indian country,” said Lowes. “We believe we found that with Caesars and look forward to being part of their new iCasino offering.”

The Wolverine State is one of only three in the US that produced at least $5 billion in an all-time betting handle. New Jersey and Pennsylvania are the others. Last month, online casinos in Michigan combined to make $198.6 million. That’s the second-most the state has ever had in a single month. Caesars claimed $11.8 million in revenue last month, which was fifth amongst all operators in Michigan. WynnBET had $2.6 million in revenue in May. If Caesars and WynnBET combined their winnings, they would have had the fourth-highest revenue in May 2024 in Michigan.