It was in August that Caesars Palace Casino was introduced in Michigan.
The Caesars brand was looking for something more from its iGaming platform. Thus, it chose to present a standalone product away from the casino feature included in Caesars Sportsbook.
Since August, Caesars Palace has been attempting to broaden its offering among Michigan online casinos with new and exclusive games.
Have the changes seen improvement on the bottom line?
Slow start for Caesars Online Casino in Michigan
It took some time for the Caesars brand to get its footing in Michigan.
Though it launched an online casino in January of 2021 like many operators, it wasn’t getting much in terms of revenue.
In 2021, Caesars averaged just over $1.1 million per month in February-December, when it had full months of operation.
Like was the case for most online operators, 2022 saw much improved results.
While remaining part of Caesars Sportsbook Michigan, the online casino feature brought in over $5.5 million per month in revenue. That was nearly 400% growth for the product.
Caesars Palace Michigan launch adds to solid 2023
In 2023, Caesars was seeing continued growth of its online casino revenue. In January-July, it was averaging $6.96 million per month.
However, Caesars was gearing toward its August launch of Caesars Palace Online Casino Michigan.
Caesars Palace was a standalone application away from Caesars Sportsbook.
It provided an expanded gaming library with more exclusive games and more jackpot options.
“It’s a casino-first entry into our digital business,” said Caesars Chief Executive Officer and Director Tom Reeg at the time of launch. “And in terms of capabilities bonusing, segmentation, proprietary games, live dealer, it is light years beyond what we’ve been operating under.”
What started with just over 480 slot games, Caesars Palace Michigan is now up to over 680 to start off 2024.
The launch has led to even greater revenue as well. Since August, Caesars is averaging $7.28 million per month in Michigan online casino revenue.
It should be noted that the Caesars online casino feature is still available on Caesars Sportsbook, giving the operator two avenues of iGaming revenue in the state. The average monthly revenue reflects the combined effort of the two online casinos.
Record revenue recorded in November
To help reflect the impact Caesars Palace has had, it recorded its highest monthly online casino revenue total in November.
November’s $9.11 million in revenue was a new record for the operator, besting the previous mark of $8.7 million in April.
The new high should be more of a sign of things to come as Caesars continues to invest in its Caesars Palace product.
Caesars has landed in the top five of Michigan online casino revenue in two of the last three months of data. That has to be a continued goal and expectation going forward.
