WynnBET is falling by the wayside in Michigan.
Horseshoe Online Casino is now up and running in Michigan, taking over from WynnBet.
Caesars Entertainment bought Wynn’s Michigan online gaming license in February and completed the deal in June. This marks the first time Caesars is using the Horseshoe brand for online gaming.
Michigan allows 15 online gambling licenses, each linked to a tribe with a physical casino.
The transition of the WynnBET license to Caesars was facilitated through a partnership with the Sault Ste. Marie Tribe of Chippewa Indians, which holds the license, and is affiliated with the Turtle Creek Casino & Hotel. Caesars also operates its Caesars Palace site in partnership with the Grand Traverse Band of Ottawa.
As the only other operator to exercise the multiple-skin option, DraftKings runs its primary DraftKings platform and its subsidiary, Golden Nugget Online Gaming.
WynnBet Completely Out of US Market
The move also now means that WynnBet has completely exited the US online casino market.
The company had already ceased operations in Arizona, Colorado, Louisiana, Indiana, Tennessee, New York, New Jersey, West Virginia and Virginia.
WynnBET launched in the Michigan market in January 2021, generating a little more than $175 million in revenue over its lifetime, placing it eighth in market share among the 15 operators.
WynnBet customers will get help moving their accounts to the new site. Those who switch will also join Caesars Rewards.
Horseshoe Online Casino Provides Big Opportunity for Caesars
Yes, this marks the end of an era for WynnBET, but also gives Caesars the chance to build on what WynnBET left behind.
Instead of letting the WynnBET site go dormant, Caesars saw value in repurposing the license and launching its Horseshoe brand — an established name in land-based casinos — as an online alternative for Michigan gamblers.
Customers can now access Caesars brands in one of three ways, including:
- Limited online casino options via the Caesars Sportsbook app
- The standalone Caesars Palace online casino app
- Horseshoe Online Casino
With Horseshoe joining, Michigan still has 15 licensed iGaming sites, keeping the market competitive. Caesars is also capitalizing on a market that limits the number of online casinos allowed in the state. In contrast, markets like Pennsylvania and New Jersey have no such restrictions, allowing an unlimited number of operators.
Horseshoe Expected to Help Caesars Grow
President of Caesars Sports and Online Gaming, Eric Heisson, said during an investors call earlier this year that although Horseshoe may not be as strong as the original Caesars brand, it will definitely play a role in the company’s growth going forward.
But at the same time, he advised managing expectations. He noted that Caesars is an even more powerful brand and serves as the company's flagship app, benefiting from a year-long head start over Horseshoe. While he anticipates Horseshoe will perform well, he does not expect it to achieve the same market share as Caesars.
The underlying thought is that Horseshoe, with its strong historical association with land-based casinos, could attract more traditional gamblers, and provide an appeal to many customers.
In the meantime, the Horseshoe online casino will be vying for the chance to be included in the list of the best online casino apps. Only time will tell.
