Caesars completes acquisition of WynnBet’s Michigan igaming operations

Caesars Entertainment has acquired a long-term extension of market access rights with the Sault Ste Marie Tribe of Chippewa Indians.

US.- Caesars Entertainment has announced the closing of its previously announced acquisition of the operations of WynnBet’s Michigan igaming business and long-term extension of igaming market access rights with the Sault Ste. Marie Tribe of Chippewa Indians.

It said it will announce a new online casino brand and the transition of WynnBet operations in the second half of 2024, pending regulatory approvals. It will assume operations on the existing platform under the WynnBet brand with no anticipated interruption to the customer experience.

The Sault Tribe owns and operates Kewadin Casinos, which has five land-based casinos in the Upper Peninsula of Michigan. As part of the transaction, Caesars will gain access to the Sault Tribe’s igaming skins.

Eric Hession, president of Caesars Digital, thanked the Sault Ste. Marie Tribe of Chippewa Indians and the Michigan Gaming Control Board for their collaboration through the process.

Michigan igaming and sports betting revenue reaches $239.5m in May

Michigan’s commercial and tribal operators reported a combined $239.5m in gross igaming and sports betting receipts in May. The figure was up 2 per cent compared April. Igaming generated $198.6m and gross sports betting $40.9m.

Combined adjusted gross receipts (AGR) were $206.8m: $178.7m from igaming and $28.1m from online sports betting, up 2.6 per cent and 1.2 per cent when compared to last month. Compared to May 2023, igaming AGR was up by 31.9 per cent and sports betting by 27.7 per cent.