Caesars Entertainment Partners with Sault Ste. Marie Tribe of Chippewa Indians; Acquires Michigan iGaming Operations from Wynn Resorts
21 February 2024 - 8:15AM
Business Wire
Caesars Entertainment, Inc. (NASDAQ: CZR) (“Caesars”)
today announced an agreement to acquire the operations of WynnBET’s
Michigan iGaming business and a long-term extension of iGaming
market access rights with the Sault Ste. Marie Tribe of Chippewa
Indians, subject to regulatory approvals. As part of the
transaction, Caesars gains access to the Sault Tribe’s iGaming
skins, enabling Caesars to operate additional digital brands in
Michigan, and existing WynnBET customers will be transitioned to
Caesars’ Michigan iGaming platform, pending regulatory approvals.
Wynn and Caesars will receive non-cash consideration, including
extinguishment, reductions, and assignment of certain contractual
obligations related to both parties’ businesses.
“As we continue to grow our iGaming franchise, the assumption of
WynnBET’s iGaming operations in Michigan allows us to tap into a
significant market and customer base, providing a crucial step
forward in growing our digital products and offering players more
ways to play,” said Matt Sunderland, SVP & Chief iGaming
Officer for Caesars Entertainment. “We are honored to work with the
Sault Ste. Marie Tribe of Chippewa Indians and look forward to
growing with them in Michigan.”
WynnBET’s iGaming operations provide Caesars with the unique
opportunity to expand further into one of the largest iCasino
markets in the U.S. while continuing to operate both Caesars
Sportsbook and Caesars Palace Online Casino. Caesars intends to
transition the WynnBET iCasino operations in Michigan later this
year to one of the flagship gaming brands within the Caesars
portfolio. Caesars is committed to a seamless transition and
premium customer experience for current WynnBET iGaming customers.
More information on Caesars’ new iCasino offering will be announced
at a later date.
“It was paramount that our next partner in iGaming possessed
both expertise in the U.S. iGaming market and a history of strong
partnerships in Indian country. We believe we found that with
Caesars and look forward to being part of their new iCasino
offering,” said Austin Lowes, Chairman of Sault Ste. Marie Tribe of
Chippewa Indians.
The Sault Tribe currently owns and operates Kewadin Casinos,
which consist of five land-based casinos located throughout the
Upper Peninsula of Michigan.
About Caesars Entertainment, Inc.
Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest
casino-entertainment company in the US and one of the world’s most
diversified casino-entertainment providers. Since its beginning in
Reno, NV, in 1937, Caesars Entertainment, Inc. has grown through
development of new resorts, expansions and acquisitions. Caesars
Entertainment, Inc.’s resorts operate primarily under the Caesars®,
Harrah’s®, Horseshoe®, and Eldorado® brand names. Caesars
Entertainment, Inc. offers diversified gaming, entertainment and
hospitality amenities, one-of-a-kind destinations, and a full suite
of mobile and online gaming and sports betting experiences. All
tied to its industry-leading Caesars Rewards loyalty program, the
company focuses on building value with its guests through a unique
combination of impeccable service, operational excellence and
technology leadership. Caesars is committed to its employees,
suppliers, communities and the environment through its PEOPLE
PLANET PLAY framework. Know When To Stop Before You Start.®
Gambling Problem? Call 1-800-522-4700. For more information, please
visit. www.caesars.com/corporate.
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version on businesswire.com: https://www.businesswire.com/news/home/20240220028424/en/
Investor Relations: Brian Agnew, bagnew@caesars.com Charise
Crumbley, ccrumbley@caesars.com, 800-318-0047
Media Relations: Kate Whiteley, kwhiteley@caesars.com Brad
Harwood, bharwood@caesars.com
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