Caesars to Acquire WynnBET’s Michigan iGaming Operations

The leading betting and gaming operator, Caesars Entertainment, announced an important acquisition, allowing it to significantly strengthen its footprint in one of the six online gambling markets across the United States. On Tuesday, the company confirmed the acquisition of WynnBET’s Michigan iGaming operations. In other words, Caesars acquired the company’s online gambling operations in the state, bolstering its presence in this important market.

Besides the acquisition, Caesars confirmed a long-term extension with the Sault Ste. Marie Tribe of Chippewa Indians, WynnBET’s partner in Michigan. It’s important to note that the aforementioned extension is subject to regulatory approvals.

Upon finalizing the acquisition of WynnBET’s iGaming operations, Caesars confirmed that it plans to transition the existing customers to one of its brands that currently operate in Michigan. The company currently offers both Caesars Palace Online Casino and Caesars Sportsbook.

Financial details regarding the latest acquisition were not disclosed by Caesars. Still, in a statement, the company explained: “Wynn and Caesars will receive non-cash consideration, including extinguishment, reductions, and assignment of certain contractual obligations related to both parties’ businesses.”

Currently, Michigan is among several states that offer online gambling activities. Undoubtedly, the recent collaboration will further strengthen Caesars’ foothold in this important market, allowing new customers to access its quality offering. The company vowed to disclose more details on the topic at a later date.

The Acquisition Represents an Important Milestone for Caesars

Austin Lowes, Sault Ste. Marie Tribe of Chippewa Indians’ chairman, highlighted the importance of the collaboration with Caesars for the iGaming vertical in Michigan. He explained that it was incredibly important for the Tribe to join forces with an experienced operator that would power the online gambling operations in the state. “We believe we found that with Caesars and look forward to being part of their new iCasino offering,” said Lowes in conclusion.

“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.“

Matt Sunderland, SVP and chief iGaming officer at Caesars Entertainment

Matt Sunderland, Caesars’ SVP and chief iGaming officer, added that the company continues to grow its presence in the online gambling sector with the acquisition of WynnBET’s iGaming operations in The Wolverine State. He explained that this strategic move allows the company to engage with new customers, expanding the reach of its quality products. Finally, Sunderland said Caesars is thrilled to collaborate with the Sault Ste. Marie Tribe of Chippewa Indians and help them expand their presence in the state.