Caesars Entertainment Finalizes Acquisition of WynnBET’s Michigan iGaming Business

Caesars Entertainment has completed its acquisition of WynnBET’s Michigan iGaming operations, marking a significant expansion in the online gaming market. This deal also includes a long-term extension of iGaming market access rights with the Sault Ste. Marie Tribe of Chippewa Indians.

Seamless Transition to Caesars’ Platform

Under the agreement, Caesars will operate the platform under the WynnBET brand with no interruption to customer experience. Caesars stated, “This transaction further enhances our iCasino Net Revenue growth in an EBITDA accretive manner.” The company plans to unveil a new online casino brand and transition WynnBET’s operations to Caesars’ Michigan iGaming Platform in late 2024, pending regulatory approvals.

Eric Hession, President of Caesars Digital, expressed gratitude, saying, “Caesars Entertainment would like to thank the Sault Ste. Marie Tribe of Chippewa Indians and the Michigan Gaming Control Board for their collaboration through this process.”

Earlier in February 2024, WynnBET decided to cease sports wagering operations in Massachusetts and several other states. This strategic move was part of WynnBET’s operational review, which led to its exit from the Michigan market and paved the way for Caesars’ acquisition.

Caesars quickly capitalized on this opportunity. “WynnBET’s iGaming operations provide Caesars with the unique opportunity to expand further into one of the largest iCasino markets in the U.S. while continuing to operate both Caesars Sportsbook and Caesars Palace Online Casino,” the company said.

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Austin Lowes, Chairman of Sault Ste. Marie Tribe of Chippewa Indians, highlighted the importance of this partnership, stating, “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. We believe we found that with Caesars and look forward to being part of their new iCasino offering.”

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