Caesars Completes Acquisition of WynnBET Michigan iGaming Services
New online casino brand will launch in Michigan later this year
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Caesars Entertainment has wrapped up its long-awaited acquisition of WynnBET’s Michigan iGaming properties.
Caesars Entertainment recently announced the close of its acquisition of Michigan iGaming operations from Wynn Resorts. Caesars will assume operations on the existing WynnBET brand platform with no expected interruptions in customer services.
A new online casino brand and the transition of the WynnBET iGaming operations to Caesars’ Michigan iGaming platform will occur in the second half of 2024, pending regulatory approvals.
Extension for iGaming Market Access Rights
As part of the deal, Caesars Entertainment also announced a long-term extension of its iGaming market access rights with the Sault St. Marie Tribe of Chippewa Indians.
“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,” said Eric Hession, President of Caesars Digital, in a press release.
The original deal was announced in February. As part of the transaction, Caesars gained access to the Sault Tribe’s iGaming skins, enabling the company to operate additional digital brands in the state.
The Sault Tribe currently owns and operates Kewadin Casinos, which consist of five land-based casinos located throughout the Upper Peninsula of Michigan.
“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,” said Austin Lowes, Chairman of Sault Ste. Marie Tribe of Chippewa Indians, when the deal was first announced in February.
WynnBET Out of Michigan
Wynn and Caesars received non-cash consideration, including extinguishment, reductions, and assignment of certain contractual obligations related to both parties’ businesses as part of the deal.
“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,” said Matt Sunderland, SVP & Chief iGaming Officer for Caesars Entertainment, in February. “We are honored to work with the Sault Ste. Marie Tribe of Chippewa Indians and look forward to growing with them in Michigan.”
Robert Linnehan
Covering regulatory developments in online gambling. Editing/writing/creating a newsletter for readers across all formats.
