Caesars Entertainment has confirmed the closing of its previously announced acquisition of the operations of WynnBET’s Michigan igaming business.
The completion of the deal also marks the expansion of igaming market access for Caesars, through the Sault Ste. Marie Tribe of Chippewa Indians, further tapping into the potential engagement of the region.
Eric Hession, President of Caesars Digital, commented on the deal: “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.”
Aiming for a smooth transition period with minimal friction, Caesars will assume operations on the existing platform under the WynnBET brand with no anticipated impact to the customer experience.
It’s expected to provide a key uplift for Caesars after the firm endured a challenging start to the year – with a “lower-than-expected hold” across several segments.
Upon publishing the group’s Q1 results, CEO Tom Reeg noted that despite setbacks due to headwinds across Las Vegas and regional operations, the operator remains “optimistic toward improved operating results throughout the balance of the year”.
He said at the time: “Operating results during the first quarter in Las Vegas are a combination of record occupancy, driven by the Super Bowl and international visitation for Chinese New Year, offset by lower-than-expected hold.”
