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Caesars Acquires WynnBET Michigan iGaming Operations

Caesars Entertainment announced it will acquire WynnBET’s Michigan iGaming operations, pending regulatory approvals, as Wynn continues to reduce its online gaming and sports betting presence.

Last August, Wynn officials said they were seeking “higher and better uses of capital deployment” than “the continued requirement for outsized marketing spend through user acquisition and promotions in online sports betting.” Financial terms were not announced.

Caesars also announced a long-term extension of iGaming market access rights with the Sault Ste. Marie Tribe of Chippewa Indians, providing access to the tribe’s online gaming platforms and operating additional digital brands in Michigan. Current customers will move to Caesars’ Michigan iGaming platform, pending regulatory approvals.