Caesars Horseshoe Online Casino Goes Live in Michigan
Caesars Entertainment has expanded its online gaming presence in Michigan with the launch of Horseshoe Online Casino.
Caesars now operates two distinct online gaming brands in Michigan, Horseshoe, and its flagship Caesars Palace platform.
LISTEN TO THIS ARTICLE:The Caesars’ online casino brand replaces WynnBet in the state after completing its acquisition of Wynn Michigan online gaming license in June.
To achieve market entry, the operator also secured a partnership extension with Wynn’s previous partner, the Sault Ste. Marie Tribe of Chippewa Indians. The collaboration ties Caesars’ online gaming operations to Turtle Creek Casino & Hotel.
With the new launch, Caesars now operates two distinct online gaming brands in Michigan, Horseshoe, and its flagship Caesars Palace platform.
Under Michigan gaming laws, operators can manage up to two online casino brands. Caesars joins DraftKings as the only company to capitalize on this provision. The latter operates its flagship platform alongside Golden Nugget Online Gaming.
New Revenue Source for Caesars
Additionally, the Horseshoe brand takeover in the Wolverine State signifies a new revenue channel for Caesars in the state. As of August, Caesars ranks fifth in market share in the state’s iGaming market, with BetMGM and FanDuel collectively holding over 50%. Nationally, Caesars’ online casino handle surged 38.8% year-over-year to $7 billion in H1 2024.
More Business News
With Ceasars’ owned Horseshoe online casino now live in Michigan, WynnBet’s US iGaming exit is now complete. The company had earlier shut down in 8 states, including Arizona, Colorado, Louisiana, Indiana, Tennessee, New Jersey, and West Virginia.
Michigan Reaches Operator Limit
The launch also indicates that Michigan’s iGaming market has reached its capacity, with the maximum allowance of 15 operator brands currently active in the state.
In August, the state recorded online gaming gross receipts of $196.6 million. Adjusted gross receipts came to $176.9 million, while $36.9 million was remited to the state in form of taxes and other fees.
RELATED TOPICS: Business
Latest News
Responsible Gambling
New Jersey Makes Significant Change to Gambling Self-Exclusion Program
Dec 24, 2024
Most Read
Parlays, Pressure, and Addiction - The Risks of Modern Sports Betting
Dec 20, 2024Must Read
Interviews
When Helping Others Is a Life-Long Mission - An Interview with Gordon Moody CEO, Monica Shafaq
Dec 17, 2024
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for Caesars Horseshoe Online Casino Goes Live in Michigan