The launch of Caesars Palace Online Casino in Michigan in September was a big step for the online operator.
However, the new platform has still been searching for that milestone mark to highlight since its launch.
That milestone finally came in November when Caesars Palace came in with $9.1 million in Michigan online casino revenue, a new record for Caesars since its launch in January of 2021.
How Caesars Palace has performed in Michigan
Caesars Palace Casino Michigan launched in the midst of August, giving the state a standalone online casino application from the Caesars label.
While Caesars Palace became separate from Caesars Sportsbook Michigan, the sportsbook still contained an online casino option with fewer gaming options than Caesars Palace.
Because of that, both casino options count toward the overall revenue total that is reported each month to the Michigan Gaming Control Board.
Still, here’s how the revenue has looked for Caesars since the launch of Caesars Palace Casino Michigan.
*Caesars Palace launched in the middle of August
Caesars Palace goes from low to a new high
The first few months of the launch of Caesars Palace saw it holding steady with what Caesars had been doing prior. Throughout 2023, Caesars was bringing in a 4.5% market share.
October was a little concerning, as the revenue dropped to its lowest mark since February, but the market share was the lowest it had seen all year.
That had to raise some eyebrows from Caesars, who have been steadily adding new and exclusive games to its Caesars Palace platform.
November’s numbers likely led to a little relief. Not only was the $9.1 million in revenue a new monthly record for the Caesars label, but the 5.2% market share is the second-highest mark in its history. April of this year saw Caesars draw 5.5% market share.
Where will Caesars Palace Michigan go in 2024?
Even prior to the Caesars Palace launch, the Caesars online casino brand was showing steady improvement throughout 2023.
Now, through 11 months, Caesars 2023 revenue is at $77.8 million. That is 31.9% higher than the $59 million it sat at through 11 months of 2022.
Caesars is amongst the percentage growth leaders for online casino revenue in Michigan this year.
With the shift to Caesars Palace, it now has a standalone online casino product that it can continue to promote and push into the new year.
Just this month alone we saw it secure a deal with EveryMatrix to bring its games to the platform.
Caesars has been jockeying with Golden Nugget for that cherished fifth spot in Michigan’s online casino rankings throughout the year.
Not only did Caesars secure it in November, but it was less than $2 million behind BetRivers Casino MI for fourth place, a spot BetRivers has solidly held down throughout most of 2023.
That should be the focus of Caesars Palace Casino Michigan for 2024. Change its approach from securing the fifth spot to trying to track down BetRivers for fourth more consistently.