Caesars Entertainment’s Post

🎰 Caesars Entertainment, Inc. has officially acquired WynnBET's Michigan operations, partnering with the Sault Ste. Marie Tribe of Chippewa Indians. This deal is set to transform the iGaming landscape in Michigan by making it a more diverse and enriching gaming experience for players. Why is this partnership a game-changer? 🤔 🔥 It marks a significant expansion of Caesars' digital empire. 🔥 It brings together Caesars' innovation with the rich heritage of the Sault Ste. Marie Tribe. 🔥 It aims to boost Michigan's already growing iGaming and sports betting sectors. With a 28% increase in Caesars Digital's net revenue, the future looks promising. Read the full article here: https://lnkd.in/dSYzsSQY #michigan #igaming #onlinecasino #casino

Boyd Gaming, a major US hotel and casino operator, has grown its presence in New Jersey‘s profitable online gambling market by buying Resorts Digital, the online branch of Atlantic City’s Resorts Casino. The two companies closed the deal on September 1, 2024, as confirmed by Resorts’ president, Mark Giannantonio. Although the companies have not revealed the purchase price, this move shows Boyd Gaming’s commitment to strengthen its position in the competitive iGaming industry. Resorts Digital has beaten its land-based counterpart’s performance. It has made over $573 million in revenue in the first eight months of 2024. On the other hand, the physical casino earned $109 million. What is more, Resorts Digital’s operating profit went up by 5.6% in the first half of the year. During the same time, the physical casino’s profits fell by 89%. Read the full article ➡ https://lnkd.in/ePr8sVEU #business #gambling #gamblingnews #usa #mergersandacquisitions #finance

BetMGM, a leading sports betting and iGaming operator jointly owned by MGM Resorts International and Entain, has announced robust financial results for the fiscal year 2023, according to unaudited figures. The recent report reflected on the performance of some key verticals, providing insights into the operator’s strategy and plans to tackle rising industry challenges. BetMGM witnessed a remarkable 36% year-over-year growth in net revenue from operations, reaching $1.96 billion. This performance was at the upper end of the $1.8-$2.0 billion guidance range. Despite an expected FY 2023 EBITDA loss of approximately $67 million, the operator achieved positive EBITDA for the second half of 2023, indicating impressive growth. The company demonstrated year-over-year improvement in various key metrics. Same-state growth in net revenue from digital operations was 14%, aligning with improvements in other figures like average monthly actives, first-time depositors, hold percentages, bonus levels, and cost per acquisition. These results bode well for the operator, enabling easier expansion. Read the full article ➡ https://lnkd.in/dnGpQJbj #business #finance #gambling #gamblingnews #igaming #global

🏰 Michigan Emerges as a Leading Hub for iGaming in the United States The acquisition of Wynn's Michigan iGaming rights by Caesars Entertainment is poised to have far-reaching implications for the state's gaming industry. It presents an opportunity for Caesars Entertainment to leverage its extensive resources and expertise to drive innovation, enhance user experiences, and expand the scope of iGaming offerings available to Michigan residents. Furthermore, the consolidation of iGaming rights under major players like Caesars Entertainment has the potential to foster healthy competition and stimulate market growth. As industry leaders vie for market share and vie for the attention of consumers, we can expect to see a wave of innovation and investment in Michigan's iGaming sector. #igaming #gambling #michigan #usbusiness #usa #consulting #globalbusiness #casino #slots #gatwickag #marketinsights #gamingindustry

WynnBet exits Massachusetts, marking its ninth departure from a US market as part of broader restructuring. Despite challenges, New York remains a key focus. Wynn Resorts aims to optimize resources and adapt to evolving market conditions. Stay tuned for insights into WynnBet's strategic trajectory in the dynamic US sports betting and iGaming industry. Full article SiGMA World https://lnkd.in/dgd3aGaT #WynnBet #SportsBetting #iGaming #BusinessStrategy

MGM's online players in international markets will soon get to partake in live dealer streams coming direct from the floor of the MGM Grand and Bellagio in Las Vegas. Unfortunately, the regulatory need for in-state studios means this product isn't coming to BetMGM's US sites. MGM didn't specify where it would offer the product, but the most likely fit would be its BetMGM sites in the UK and Netherlands. Unlike BetMGM US, these sites are independently operated by MGM, not the joint venture with Entain. LeoVegas might also get the streams. https://lnkd.in/eBNvJ6WN

iGaming/Digital Sports Betting is the evolution that land-based casinos NEED. It's not "taking away" from casino gambling. In fact, it's a rising tide that lifts all boats. Online gambling legalization is correlated with overall gambling industry growth in the UK and Europe. The biggest growth happened in the digital space, but land-based casino operations maintained or even grew revenues. Because online products can drive additional engagement and foot traffic to physical casinos. It can be a win-win. Land-based operators need to view iGaming as the next evolution - a new way for customers to interact with their brand. The key is to leverage online and mobile offerings to enhance the overall customer experience. View them in tandem. We're already seeing MGM and Caesars moving online. Consumer behavior is changing. The most successful operators will recognize and adapt. #SportsBetting #iGaming #RMG

#Part3 Fascinating Casino Facts! 🎲 1. No Las Vegas casinos are actually in Las Vegas! 🎰 Believe it or not, none of the huge casinos we all associate with Las Vegas are officially in the City of Las Vegas and are actually located in the unincorporated town of Paradise, Clark County, Nevada, adjacent to Las Vegas. 🏜️ 2. Online casinos are nearly as old as the Internet. 🖥️ The internet as we know it was created in 1991, and by 1994 Microgaming had launched The Gaming Club. 💻 3. King Henry VIII Was a Compulsive Gambler. 👑 Most people know Henry VIII for his six marriages, but wives weren’t his only vice. It’s hard to overlook his love of gambling. The King not only played dice and cards regularly, but he made it a habit of wagering on archery, jousting, and other sports. If you believe the historical record, the king suffered a two-year losing streak that cost him £3,250, which would be worth millions today. 4. Macau is the gambling capital of Asia. 🌏 While Las Vegas holds the title of gambling capital globally, Macau, a special administrative region of China, takes the crown in Asia. The region is home to numerous sprawling casino resorts attracting millions of visitors annually. 5. The largest casino in the world is in Macau. 🏰 The Venetian Macao in Macau is the largest casino in the world, spanning an impressive 10.5 million square feet. Its grandeur and luxurious offerings have cemented its place as a must-visit destination for gambling enthusiasts. 🌟

During the first four months of 2024 US commercial casinos generated $15.6bn in gaming revenues, a modest decline from a similar amount in the same prior year period. Sports betting revenue totaled $4.34bn during YTD April 2024 versus $3.67bn during YTD April 2023, representing an increase of approximately 18%. iGaming revenue generated $2.41bn during YTD April 2024 compared to $1.92bn in the same prior year period, or an increase of approximately 26%. Lastly, VGT distributed gaming revenue* totaled $1.88bn during the first four months of 2024 versus $1.82bn during YTD April 2023, representing an increase of approximately 3%. Due to timing differences of monthly reporting and limitation of data, the revenue figures for distributed gaming exclude the NV, GA, WV and MT markets. Is this a sign that the post-COVID commercial casino boom is coming to an end? And if so, what strategic and operational moves should casino operators be considering as they look into the future? Combining ongoing market performance analytics with operational assessment and strategic planning is key. Let’s look at the commercial casino revenue decline. Although some areas including the Las Vegas strip, Reno, Virginia and Illinois stayed in positive territory, the majority of UScommercial land-based markets saw revenue declines. And, most revenue increases resulted from new market entrants or investment. There are several forces at work constraining commercial gaming revenues. These include lack of investment, the growth of online sports betting and casinos, and some weak patches in the economy. Navigating through these disruptive trends correctly will determine winners and losers in a quickly changing gaming environment.

Today, Playtech and MGM Resorts International announced their strategic partnership, which will offer new and unique live casino content to operators in the iGaming industry. Streamed directly from the gaming floors of two of MGM Resorts’ most iconic Las Vegas Strip properties, the live casino content, branded as “MGM Live,” will be available for licensing in regulated markets worldwide, outside of the United States. As the technology partner of MGM Resorts, Playtech will be providing players with on-demand, online access to a combination of next-level, immersive entertainment experiences directly from two of the industry’s landmark, exclusive brands: Bellagio and MGM Grand. Both brands look forward to working with operators to support and promote a safe gambling experience. “The launch of this new and exciting live casino offering, in partnership with Playtech and directly from Bellagio and MGM Grand in Las Vegas, furthers our strategic vision to be the world’s premier gaming entertainment company. This collaboration amplifies our commitment to providing unparalleled experiences and expands our global reach to our customers,” said Bill Hornbuckle, Chief Executive Officer & President of MGM Resorts. “We believe the content, celebrity talent and sophisticated gaming experience that we will offer – all from the trusted and highly reputable brands of MGM Resorts – will be unmatched in the industry.” Mor Weizer, Chief Executive Officer at Playtech said; “We are thrilled to partner with MGM Resorts, a world-renowned gaming and entertainment brand. This alliance combines the strength of MGM Resorts’ global prestige with Playtech’s extensive international market knowledge and innovative games. As a leading technology provider in regulated markets, we are delighted that this partnership is pioneering a new live entertainment category and product offering for players in these regulated territories. Our alliance is built on a shared vision to create an innovative and unique customer experience alongside our commitment to safer gambling. Both Playtech and MGM Resorts are dedicated to maintaining the highest standards of player protection and ensuring our offerings are enjoyed responsibly.” Read the full announcement here: https://lnkd.in/eG7R7fMN #Playtech #PlaytechLive #MGMResorts #StrategicPartnership #NextLevelEntertainment #ResponsibleGambling