Michiganders who want to test their luck at the blackjack tables or try a little video poker but don’t want to venture out to a casino now have a new online gaming option, sort of. This week, Horseshoe Online Casino launched in Michigan.
It is not an addition to the Michigan market so much as it is an even swap, though, as it replaces WynnBet. Previous WynnBet customers can follow instructions on the site or app to migrate their accounts to Horseshoe.
Key Highlights
- Horseshoe replaces WynnBet, whose license Caesars acquired in June 2024.
- Caesars is partnered with the Sault Ste. Marie Tribe of Chippewa Indians and the Kewadin Casino.
- Wynn Resorts no longer has any online casino products in the US.
Caesars Bought Wynn’s Michigan License
The changeover is the result of a deal between Caesars Entertainment, which owns the Horseshoe brand, and Wynn Resorts.
In February 2024, Caesars agreed to acquire WynnBet’s online gaming license and extend the Michigan market access partnership with the Sault Ste. Marie Tribe of Chippewa Indians and the Kewadin Casino.
The two companies finalized the deal in June. In July, Caesars announced it would use the Horseshoe brand for its new Michigan offering.
Michigan regulations only allow for 15 online gaming sites and because that quota was maxed out, a deal like this was the way Caesars could launch a second brand in the state.
It got its Caesars Palace site off the ground last year, partnering with the Grand Traverse Band of Ottawa and Chippewa Indians and their Turtle Creek Casino & Hotel.
This is Caesars’ first online gaming product to use the Horseshoe brand.
Looks Different, But Still an Online Casino
For customers already familiar with online casinos, Horseshoe will be nothing new. It looks different than WynnBet, but it will still offer most of the same games and game types.
Caesars does have some progressive jackpots that are exclusive to its brands. Horseshoe also has live dealer games that have become increasingly popular over the last few years.
Aside from learning to navigate a new interface, the only change of any real significance for former WynnBet customers is that they will have access to the Caesars Rewards program. In fact, those migrating their accounts from WynnBet will be automatically enrolled.
Caesars Rewards members can earn points on any Caesars-operated app and at any Caesars retail property.
Wynn Struggled to Compete
Though Wynn is a well-known casino brand in the United States, it was never able to establish itself as a major player in the online gambling market. In Michigan, its lifetime revenue is $175.1 million, putting it right in the middle of the 15 operators.
Its August 2024 revenue was $2.7 million, just 12th in the state.
WynnBet announced in August 2023 that it was shutting down operations in eight states
It has been a similar story in other states; WynnBet just couldn’t gain a strong foothold against competitors such as Caesars, BetMGM, DraftKings, and FanDuel.
As such, WynnBet announced in August 2023 that it was shutting down operations in eight states: Arizona, Colorado, Louisiana, Indiana, Tennessee, New Jersey, West Virginia, and Virginia.
That left Massachusetts and Nevada, where Wynn has brick-and-mortar casinos, and Michigan and New York, which were still potentially lucrative online gaming markets.
WynnBet withdrew from Massachusetts in February 2024, though Wynn still has retail sports betting at Encore Boston Harbor.
That same month, Wynn sold its New York license to Penn Entertainment for Penn’s ESPN Bet offering, which just went live in late September.
Michigan was Wynn’s last remaining online casino product. It is now completely out of the internet gambling business in the United States except for in Nevada, where it still offers both online and retail sports betting.
Sources
https://www.bonus.com/news/horseshoe-online-casino-now-live-michigan-replacing-wynnbet/
https://mi.wynnbet.com/maintenance/force_update_wynnBet.html
https://investor.caesars.com/news-releases/news-release-details/caesars-entertainment-partners-sault-ste-marie-tribe-chippewa
https://www.playmichigan.com/online-casino/revenue/
