Caesars Launches Horseshoe Online Casino in Michigan

Caesars’ new online casino platform, Horseshoe online casino, officially went live for Michigan gamblers on Wednesday. The Michigan Gaming Control Board (MGCB) allows operators to have up to two separate iGaming brands. Horseshoe is Caesars’ second platform in the Wolverine State, joining its Caesars Palace skin, which launched last year.

WynnBET exits Michigan

Caesars also acquired WynnBET’s license in February. It operates the license through a partnership with the Sault Ste. Marie Tribe of Chippewa Indians. However, WynnBET is now exiting the Great Lakes State.

According to Michigan law, operators can launch just two Michigan online casino brands. Only DraftKings operates a second platform, Golden Nugget. WynnBET’s Michigan product launched at the start of the state’s industry in January 2021.

WynnBet collected $175.1 million in lifetime revenue, ranking eighth in market share of the 15 operators. Although the initial deal was negotiated in January, the companies completed the transaction in June. The number of iGaming operators remains at 15, which is the maximum amount allowed by Michigan regulators.

Caesars is now providing several ways for players to play on its brand. Those options include online casino via the Caesars Sportsbook app, the standalone Caesars Palace online casino app, and now Horseshoe Online Casino.

Horseshoe Online Casino is not supposed to outperform Caesars Palace platform, according to projections

During its Q2 2024 earnings call in July, President of Caesars Sports and Online Eric Hession made it clear that Horseshoe is not expected to outperform the Caesars Palace platform. He believes “Horseshoe [will] perform very strongly,” but not on par with Caesars.

“I also would temper the expectations. Horseshoe is a great brand, and we feel like it’s going to resonate with a lot of customers. But Caesars is even a better brand,” Hession added.

“And quite frankly, that’s going to be the flagship app that we have, and it’s got a year’s lead over the Horseshoe. So I would expect the Horseshoe to perform very strongly, but I don’t think it will command the market share that Caesars will.”

Through August, Caesars Palace MI online casino averaged $11.4 million in monthly revenue.