
Caesars Entertainment Inc. today announced an agreement to acquire the operations of WynnBET’s Michigan iGaming business and a long-term extension of iGaming market access rights with the Sault Ste. Marie Tribe of Chippewa Indians, subject to regulatory approvals. Terms of the deal were not disclosed.
As part of the transaction, Caesars gains access to the Sault Tribe’s iGaming skins, enabling Caesars to operate additional digital brands in Michigan, and existing WynnBET customers will be transitioned to Caesars’ Michigan iGaming platform, pending regulatory approvals.
“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,” says Austin Lowes, chairman of Sault Ste. Marie Tribe of Chippewa Indians.
The Sault Tribe currently owns and operates Kewadin Casinos, which consist of five land-based casinos located throughout the Upper Peninsula of Michigan.
Wynn and Caesars will receive non-cash consideration, including extinguishment, reductions, and assignment of certain contractual obligations related to both parties’ businesses.
“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,” says Matt Sunderland, senior vice president and chief iGaming officer for Caesars Entertainment.
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.
Caesars intends to transition the WynnBET iCasino operations in Michigan later this year to one of the flagship gaming brands within the Caesars portfolio. Caesars staes it is committed to a seamless transition and premium customer experience for current WynnBET iGaming customers.
More information on Caesars’ new iCasino offering will be announced at a later date.
Caesars Entertainment is the largest casino-entertainment company in the U.S. Launched in Reno, N.V., in 1937, the company has grown through development of new resorts, expansions, and acquisitions.
It’s resorts operate primarily under the Caesars, Harrah’s, Horseshoe, and Eldorado brand names.
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