Caesars Entertainment Revealed that Horseshoe Online Casino Will Launch In Michigan

Caesars Entertainment is growing its portfolio of online casino platforms in the Great Lakes State by adding a new casino app. After several months of speculation initiated by Caesars' purchase of WynnBET's iGaming license in Michigan, it was finally announced during a Q2 earnings call that Caesars decided to bring Horseshoe online casino to the Wolverine State. 

The launch will occur in September, which is earlier than previously announced. During the Q1 earnings call, Caesars executives predicted the launch of the new casino app at the end of 2024.  

A Project In Development Since February 

The story of a new Caesars brand joining the group of Michigan casinos online began in February with the acquisition of WynnBET's license. However, the process of purchasing WynnBET's license did not occur instantly. The president of Caesars online gaming operations, Eric Heisson, revealed that the acquisition of WynnBet's Michigan operations was completed in June, and the next phase is to launch a new casino app branded Horseshoe Casino. 

There have not been any precise clarifications as to why Caesars chose Horseshoe and not any of its other popular brands, such as Harrah's or Tropicana. The only explanation is that Caesars views Horseshoe as a strong brand, which Heisson believes will resonate with Michigan players. However, Heisson also emphasized that Caesars Palace will remain their flagship casino app in the Wolverine State, and they do not believe Horseshoe will outperform the Caesars Palace platform. 

It's hard to know if Caesars Palace will keep a competitive edge against its sister brand by offering a more extensive inventory of casino games and more generous Michigan online casino promotions. Heisson also added during the Q2 call that Caesar Palace's market share will not be challenged despite high expectations for Horseshoe. Currently, Caesars ranks as the 5th best online casino in Michigan, according to revenue generated.

Caesars Builds Upon Strong Momentum 

The introduction of a new casino app is motivated by the growing iGaming market in the Great Lakes State. According to Heisson, Caesars' iGaming business is growing by 50%, and Horseshoe is part of the company's growth strategy.

According to Heisson, the company expects the Horseshoe brand to enable Caesars Entertainment to continue building on its success since the launch of Caesars Palace. The executive sees strong momentum and is encouraged by the fact that the company has managed to achieve the targets it aimed for in the past. The Michigan Gaming Control Board has allowed Caesars to operate two iGaming brands, which is not the first such example. DraftKings owns DraftKings Casino and Golden Nugget Online Casino.