Caesars Entertainment has closed the previously announced acquisition of the operations of WynnBET’s Michigan iGaming business and the long-term extension of iGaming market access rights with the Sault Ste. Marie Tribe of Chippewa Indians.
Under the deal, Caesars will assume operations on the existing platform under the WynnBET brand with no anticipated interruption to the customer experience. “This transaction further enhances our iCasino Net Revenue growth in an EBITDA accretive manner,” the company said.
Caesars Entertainment will announce a new online casino brand and the transition of the WynnBET iCasino operations to Caesars’ Michigan iGaming Platform in the second half of 2024, pending regulatory approvals.
“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 February 2024, WynnBET announced its decision to cease sports wagering operations in Massachusetts and several other states. The strategic movement is part of WynnBET’s ongoing review of its operations, which included its exit from the Michigan market, paving the way for the Caesars’ acquisition.
Caesars announced its agreement to acquire WynnBET’s Michigan iGaming operations soon after. “WynnBET’s iGaming operations provide Caesars with the unique opportunity to expand further into one of the largest iCasino markets in the U.S. while continuing to operate both Caesars Sportsbook and Caesars Palace Online Casino,” the company said at the time.
“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,” Austin Lowes, Chairman of Sault Ste. Marie Tribe of Chippewa Indians, said at the time.
Original article: https://www.yogonet.com/international/noticias/2024/06/19/72737-caesars-completes-acquisition-of-wynnbet-39s-michigan-igaming-business
