Caesars Entertainment confirmed during its Q1 2024 earnings call that it plans to launch its second online casino platform by the end of 2024 in Michigan.
In February, Caesars announced it had purchased the Michigan license for WynnBet’s iGaming platform.
Operating the WynnBet-branded platform — likely under a new name — would make Caesars the first operator to have two completely different online casinos in the Great Lakes State.
The MGCB recently told PlayMichigan how Caesars is allowed to that. Currently, the operator has a sportsbook app with a casino. That platform is separate from its Caesars Palace Michigan app.
Caesars to operate new skin in Michigan before end of 2024
Caesars sent shockwaves through the state of Michigan after acquiring WynnBet in February, which also includes a sportsbook license.
The operator announced at that time that it planned to launch the new WynnBet platform by the end of 2024. During the company’s Q1 2024 earnings call, those plans remained unchanged.
“We announced an agreement with the Sault Ste. Marie Tribe of Chippewa Indians and Wynn Resorts to enable a second iGaming brand in Michigan, which we plan to launch before the end of the year pending regulatory approvals,” Eric Hession, President of Caesars Sports & Online, said on Tuesday’s call.
WynnBet was by no means a market leader, however. It often placed top 10 in revenue among the 15 Michigan online casinos. WynnBet produced the following results in in 2024:
- January: $3.3 million
- February: $3 million
- March: $3.2 million
Caesars is going to have something to work with right off the bat. Hession added on the call:
“The existing Wynn operations have been averaging approximately $3 million of GDR per month, and we will work with their team to transition the customer base to our newly-branded product when we launch.”
Recently, PlayMichigan speculated which brand Caesars may use for the platform that remains, for now, WynnBet.
Caesars gunning for fourth place in Michigan
Caesars Palace ranked fifth in revenue in March in Michigan with $11.3 million. It finished behind FanDuel, BetMGM, DraftKings and BetRivers and ahead of:
- Golden Nugget: $7.7 million
- Hollywood: $5.2 million
- Four Winds: $4.3 million
- Eagle: $4.2 million
- WynnBet: $3.2 million
- Play Gun Lake: $3.19 million
- Fanatics: $3.1 million
- PokerStars: $3 million
- FireKeepers: $2.5 million
- SI: $1.8 million
Caesars Palace is within striking distance of fourth spot in Michigan, sitting just $1.5 million BetRivers.
At current levels, the WynnBet skin could see Caesars’ entire Michigan online operations generating $15 million in revenue per month before long.
