The Caesars brand is synonymous with the highest quality, but Caesars Casino Michigan has been less than impressive. Compared to other operators, Caesars casino did not pull its weight. As at the end of June 2023, Caesars recorded $120.5 million in lifetime online casino revenue in Michigan. This amount placed the casino in seventh position of all-time iGaming revenue in the Wolverine State.
On the flip side, Caesars Sportsbook MI has been relatively more successful, ranking in the top five of operators in the state. The sportsbook is fifth overall in terms of lifetime sportsbook handle. Since it started operations in Michigan, Caesars Sportsbooks have handled wagers $680 million.
Top executives of Caesars believe the new casino would improve the operator’s iGaming revenue in Michigan.
“We are fully aware that we have seen significant competition in the iCasino space. We don’t expect that we’re just going to come in and run everybody over,” Reeg said. “But we feel like we’ve got the product to start to build market share, and wrapping that into Caesars Rewards has been and will continue to be powerful for that business.”
“You should be expecting third quarter for the digital business as a coin flip as to which side of break-even we’re on, but we should be close,” Reeg informed investors. “Your fourth quarter should be a significantly positive quarter. And then we should be positive from then on.”
Reeg also mentioned that Caesars would be aggressive with marketing. The brand is also prioritizing offering customers enough incentives. Players would be able to log in to the Caesars Palace Casino with the same account details as Caesars Casino Michigan. Their bankroll and reward points can also be transferred.
