Caesars Entertainment announced it will acquire WynnBET’s Michigan iGaming operations, pending regulatory approvals, as Wynn continues to reduce its online gaming and sports betting presence.
Last August, Wynn officials said they were seeking “higher and better uses of capital deployment” than “the continued requirement for outsized marketing spend through user acquisition and promotions in online sports betting.” Financial terms were not announced.
Caesars also announced a long-term extension of iGaming market access rights with the Sault Ste. Marie Tribe of Chippewa Indians, providing access to the tribe’s online gaming platforms and operating additional digital brands in Michigan. Current customers will move to Caesars’ Michigan iGaming platform, pending regulatory approvals.
Caesars Entertainment Senior Vice President and Chief iGaming Officer Matt Sunderland said, “As we continue to grow our iGaming franchise, the assumption of WynnBET’s iGaming operations in Michigan allows us to tap into a significant market and customer base, providing a crucial step forward in growing our digital products and offering players more ways to play.”
In addition, Sunderland said, “We are honored to work with the Sault Ste. Marie Tribe of Chippewa Indians and look forward to growing with them in Michigan.” The tribe owns five Kewadin Casinos throughout Michigan’s Upper Peninsula.
Tribal Chairman Austin Lowes said, “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.”
The acquisition of WynnBET’s Michigan iGaming operations allows Caesars to further expand further into one of the nation’s largest iCasino markets, and continue to operate both Caesars Sportsbook and Caesars Palace Online Casino.
In a statement, Caesars officials said the company will transition WynnBET iCasino operations in Michigan to one of the flagship gaming brands within the Caesars portfolio by the end of the year, noting, “Caesars is committed to a seamless transition and premium customer experience for current WynnBET iGaming customers.”
