- Caesars Entertainment has acquired WynnBET’s online sports betting and casino gaming operations in Michigan.
- Simultaneously, Caesars has also secured a long term market access rights extension with the Sault Ste. Marie Tribe of Chippewa Indians.
- WynnBET announced they were throwing in the towel on the dysfunctional US sports betting market last August.
Caesars Entertainment is broadening its footprint in the Michigan market with the recent acquisition of WynnBET’s online sports betting and iGaming operations, the details of which were not disclosed.
In a strategic move, Caesars has also secured a long-term extension for market access rights with Wynn’s collaborator, the Sault Ste. Marie Tribe of Chippewa Indians, pending the green light from regulatory bodies.
The deal provides Caesars with the Sault Tribe’s iGaming skins, granting the entertainment giant the ability to launch additional iGaming brands within Michigan. This arrangement includes the migration of existing WynnBET users to Caesars’ digital gaming platform.
Already a player in Michigan’s online sports betting and iGaming scene through a partnership with the Grand Traverse Band of Ottawa and Chippewa, Caesars operates its Caesars Sportsbook, Caesars Palace Online Casino, and WSOP brands in the state.
The agreement sees both Wynn and Caesars benefitting from non-monetary considerations, such as the elimination, reduction, and transfer of certain contractual obligations relevant to their respective operations.
Matt Sunderland, Senior Vice President and Chief iGaming Officer at Caesars Entertainment, emphasized the importance of this expansion:
“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. We are honored to work with the Sault Ste. Marie Tribe of Chippewa Indians and look forward to growing with them in Michigan.”
The transition of WynnBET’s iCasino operations in Michigan to one of Caesars’ leading gaming brands is slated for later this year.
Austin Lowes, Chairman of the Sault Ste. Marie Tribe of Chippewa Indians, highlighted the criteria for their new partnership:
“It was paramount that our next partner in iGaming possessed both expertise in the US 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 Sault Tribe is the proprietor of Kewadin Casinos, a network of five terrestrial casinos spread across Michigan’s Upper Peninsula.
In January, Michigan’s licensed iGaming operators reported a record $181.9 million in total gross receipts, with contributions of $10.2 million from the Grand Traverse Band of Ottawa and Chippewa and $3.3 million from the Sault Ste. Marie Tribe of Chippewa Indians.
For the online sportsbook sector, the state saw total gross receipts of $47.7 million in January. The Grand Traverse Band of Ottawa and Chippewa and the Sault Ste. Marie Tribe of Chippewa Indians reported earnings of $987,123 and a loss of $2,663, respectively.
Last August, Wynn Resorts disclosed its plans to discontinue the WynnBET online sports betting and iGaming platform, recently selling its New York mobile sportsbook license to PENN Entertainment for $25 million.
