{"id":2022,"date":"2024-08-01T15:44:19","date_gmt":"2024-08-01T15:44:19","guid":{"rendered":"http:\/\/stakery.io\/?p=2022"},"modified":"2024-08-14T14:24:50","modified_gmt":"2024-08-14T14:24:50","slug":"caesars-entertainment-pegs-horseshoe-brand-for-next-igaming-platform","status":"publish","type":"post","link":"http:\/\/stakery.io\/index.php\/2024\/08\/01\/caesars-entertainment-pegs-horseshoe-brand-for-next-igaming-platform\/","title":{"rendered":"Caesars Entertainment Pegs Horseshoe Brand for Next iGaming Platform"},"content":{"rendered":"

Caesars Entertainment brass revealed during the company\u2019s Tuesday evening call<\/a> with investors and analysts that it will soon deploy its Horseshoe brand online.<\/span><\/p>\n

\"Caesars
Caesars Entertainment will launch its next online casino brand by way of Michigan in September 2024. Company officials said this week the Horseshoe brand is moving to the internet. (Image: Caesars Entertainment)<\/figcaption><\/figure>\n

During the second quarter earnings call, Eric Hession, president of sports and online gaming at Caesars, said the company\u2019s acquisition of WynnBet\u2019s<\/a> online operations in Michigan was completed in June.<\/span><\/p>\n

The acquisition provides Caesars with additional market access for iGaming and online sports betting in the state through a partnership with the Sault Ste. Marie Tribe of Chippewa Indians. The tribe owns five casinos on Michigan\u2019s Upper Peninsula.<\/span><\/p>\n

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Caesars runs its Caesars Sportsbook and Caesars Palace Online Casino, as well as a World Series of Poker online platform, in Michigan through a separate tribal partnership with the Grand Traverse Band of Ottawa and Chippewa Indians. Commercial casinos in Michigan are limited to Detroit. Caesars isn\u2019t one of the three operators<\/a> in the city.<\/span><\/p>\n<\/div>\n

The Horseshoe brand was founded by legendary gambler and poker player Benny Binion in 1951. Binion also founded the World Series of Poker and held the annual tournament at his Binion\u2019s Horseshoe in downtown Las Vegas from 1970 through 2004.<\/span><\/p>\n

Caesars, then Harrah\u2019s Entertainment, acquired the Horseshoe brand in 2004 as part of its $9 billion acquisition of Caesars Entertainment, Inc.<\/span><\/p>\n

Horseshoe Won\u2019t Be a Ringer<\/b><\/span><\/h2>\n

Hession says the Horseshoe online casino will deploy sometime next month in Michigan. The iGaming brand will expand to other states where Caesars has licenses to operate online sportsbooks and\/or casino gaming in the coming months.<\/span><\/p>\n

Hession explained that the Horseshoe\u2019s online operations will complement Caesars Palace and Caesars Sportsbook but won\u2019t be expected to overtake the more widely known brands.<\/span><\/p>\n

\u201cI would tamper expectations. Horseshoe is a great band, but Caesars is an even better brand,\u201d Hession said. \u201cCaesars is the flagship brand and it\u2019s got a year\u2019s lead over the Horseshoe.\u201d<\/span><\/p>\n

\n

I would expect the Horseshoe to perform very strongly, but I don\u2019t think it will command the market share that Caesars has,\u201d Hession explained.<\/span><\/p>\n<\/blockquote>\n

WynnBet\u2019s online business in Michigan certainly did not. Through six months of 2024, WynnBet iGaming revenue totaled just $16.8 million. The state\u2019s top three online casinos<\/a> \u2014 BetMGM, FanDuel, and DraftKings \u2014 respectively won $302.5 million, $296.7 million, and $219.5 million during that same time.<\/span><\/p>\n

WynnBet\u2019s online sportsbook also lagged the leaders with revenue of less than $10K through six months, though the book ceased operations in March. In 2023, however, the WynnBet online sportsbook generated revenue of just $1.4 million while FanDuel won $127.4 million and DraftKings took $54.3 million off bettors.<\/span><\/p>\n

Horseshoe Expansion<\/b><\/span><\/h2>\n

Caesars returned the Horseshoe brand to Las Vegas and the Strip for the first time<\/a> in 2022 after rebranding Bally\u2019s. The company continues to bring heightened awareness to the Horseshoe, with the latest development being the Michigan iGaming news.<\/span><\/p>\n

\n

Caesars operates 10 Horseshoe-branded casinos in eight states \u2014 Colorado, Indiana, Iowa, Louisiana, Maryland, Mississippi, Missouri, and Nevada.<\/span><\/p>\n<\/div>\n

Tom Reeg, Caesars CEO, said momentum in online gaming remains strong.<\/span><\/p>\n

\u201cExpect that the Horseshoe brand, our second brand in iCasino, can help us build on the gains that we\u2019ve had since we rolled out Caesars Palace Online [in August 2023].\u201d<\/span><\/p>\n

Caesars is licensed in four of the seven states where online casinos are allowed. Caesars is operational in Michigan, New Jersey, Pennsylvania, and West Virginia.<\/span><\/p>\n

The post Caesars Entertainment Pegs Horseshoe Brand for Next iGaming Platform<\/a> appeared first on Casino.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Caesars Entertainment brass revealed during the company\u2019s Tuesday evening call with investors and analysts that it will soon deploy its Horseshoe brand online. Caesars Entertainment will launch its next online casino brand by way of Michigan in September 2024. Company officials said this week the Horseshoe brand is moving to the internet. (Image: Caesars Entertainment)…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[16],"tags":[],"_links":{"self":[{"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/posts\/2022"}],"collection":[{"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/comments?post=2022"}],"version-history":[{"count":1,"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/posts\/2022\/revisions"}],"predecessor-version":[{"id":2023,"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/posts\/2022\/revisions\/2023"}],"wp:attachment":[{"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/media?parent=2022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/categories?post=2022"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/stakery.io\/index.php\/wp-json\/wp\/v2\/tags?post=2022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}