The Horseshoe Casino online venture, which is now part of the larger Horseshoe brand owned by Caesars Entertainment, has hit the ground running in Michigan. Having already gained significant traction, the platform’s strong initial performance has not only confirmed Caesars’ strategic decision to introduce the brand but has also led the company to expand Horseshoe into Pennsylvania, West Virginia, and Ontario.
As one of the jewels in the crown of the Caesars gambling empire, the company has high hopes for the brand. Caesars sees its potential to stand out amid what has become a highly competitive global market. iGaming has expanded into a massive, worldwide craze, with the global market now featuring a diverse group of major players encompassing everything from online casinos to sports betting platforms, hybrid sites, and the more contemporary crypto casinos that have begun causing quite a stir.
According to casino expert Nikita Jones, the casino apps reviewed by Business2Community showcase the best ones out there right now that are proving popular with US players. With the iGaming market now worth around $20 billion in 2024, premium online casinos distinguish themselves by providing a more seamless gaming experience, wider ranges of games to choose from, generous welcome bonuses, and faster payouts.
For Horseshoe Casino, entering this market and succeeding right off the bat wasn’t necessarily a guarantee given all the competition from both local and offshore platforms. However, Horseshoe has the advantage of already being a major name in the gambling industry since 1973 when its first casino opened in Las Vegas.
Eric Hession, Caesars’ President of Sports and Online Gaming, recently highlighted the platform’s success during the company’s Q3 2024 earnings call. He noted that user engagement with the Horseshoe app has been encouraging, with customers actively returning and engaging with the platform.
This positive response is set to be followed up with concerted advertising and marketing initiatives, which Caesars plans to roll out in the coming months. The goal is to strengthen brand visibility and attract new users in the markets where Horseshoe operates, providing the opportunity for sustained growth in the coming years.
A key factor in Horseshoe’s growth has been the seamless transition from WynnBET to the Horseshoe platform, following Caesars’ acquisition of WynnBET’s license. This move allowed Caesars to retain and convert existing WynnBET users. In light of Horseshoe’s practically instant success, it seems the smooth migration process is paying off.
Hession reported that the majority of business now comes from these converted users. CEO Tom Reeg further noted that not only was there no loss of customers during the transition, but the business has experienced growth compared to its performance under the Wynn brand. This successful migration demonstrates the trust that customers have in Caesars and its platforms.
Going forward, October revenue figures for October are due for release by the Michigan Gaming Control Board. This will provide further insights into how Horseshoe has gotten along so far and the impact that its expansion may have on the local iGaming market in months to come.
For now, Caesars is optimistic about the brand’s future. With a strong start in Michigan and ambitious marketing plans, Horseshoe Casino seems well-positioned to make a lasting impact on the online gaming market in Michigan and beyond.