The largest casino-entertainment company in the United States and operator with one of the most diversified casino-entertainment providers in the world, Caesars Entertainment, announced the completion of the acquisition of WynnBET’s iGaming business in Michigan. The move represents a major expansion of the company in an important online gambling market.

Besides acquiring WynnBET’s iGaming operations, Caesars also closed a long-term extension of an iGaming market access deal with the Sault Ste. Marie Tribe of Chippewa Indians.

Upon announcing the completion of the acquisition, the company said that existing WynnBET brand users won’t experience any interruptions. Assuming the ownership of the WynnBET iGaming business in the state, Caesars said that it plans to keep the existing platform’s name, at least for the moment.

Eric Hession, Caesars Digital’s President, acknowledged the importance of the latest announcement. He thanked the gambling regulator in the state, the Michigan Gaming Control Board, as well as the Sault Ste. Marie Tribe of Chippewa Indians, for their efforts that ultimately resulted in the closing of this landmark acquisition.

“Caesars Entertainment would like to thank the Sault Ste. Marie Tribe of Chippewa Indians and the Michigan Gaming Control Board for their collaboration through this process.“

Eric Hession, president of Caesars Digital

Transitioning from WynnBET to a New Brand Expected Later This Year

Although initially, Caesars will retain the existing platform by using the WynnBET brand in Michigan, the company hinted at the possibility of introducing a new online casino brand. Once this is completed, the company said it will proceed with the transitioning of the existing WynnBET customers to the new iGaming brand.

Still, Caesars confirmed that such a move remains subject to the relevant regulatory approvals. The company disclosed that it expects to complete the aforementioned processes at some point during the second half of this year.

Still, a solid date or an exact name for the new iGaming brand in Michigan was not disclosed.

Recently, Caesars’ shareholders rejected a proposal to study the benefits of going smoke-free. The announcement came despite the growing opposition from anti-smoke organizations who have repeatedly raised concerns about the negative impact of smoking on casino patrons and employees.

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Better Collective announced that it has completed the acquisition of Playmaker Capital, a Toronto-based digital sports media group. This is notably Better Collective’s second-largest acquisition to date.

The deal saw Better Collective acquire all of Playmaker Capital’s issued shares for a consideration of CAD 0.70 per share. Better Collective covered this deal both in cash and Better Collective shares.

Following the completion, Playmaker Capital’s common shares are set to be delisted from the TSX Venture Exchange. In addition, the acquired company will apply to cease to be a reporting issuer.

Speaking of shares, Better Collective’s board decided to increase the company’s share capital with nominally EUR 17,554.29. As a result, a total of 1,755,429 new ordinary shares with a nominal value of EUR 0.01 have been issued.

Playmaker Capital will be consolidated into Better Collective’s financials as of February 6. Furthermore, Better Collective updated its 2027 long-term financial targets.

Better Collective Updates Financial Targets

The acquisition deal prompted Better Collective to revisit its 2027 long-term financial targets. According to the company’s report, its revised targets include a revenue CAGR of +20% and net debt to EBITDA below 3x.

While the aforementioned metrics remain unchanged, the acquisition of Playmaker Capital increased Better Collective’s confidence in reaching the revenue CAGR target.

In addition, Better Collective updated its EBITDA margin before special items guidance from 30-40% to 35-40%.

Executives Are Excited about the Deal’s Completion

Better Collective’s co-founder and chief executive officer, Jesper Søgaard, commented on the completed deal. He said that this is an important step towards Better Collective’s vision of becoming “the leading digital sports media group.

I look forward to welcoming the entire Playmaker team and its leading sports media brands to the Better Collective group and to realize the many synergies that lie ahead for our business.

Jesper Søgaard, co-founder & CEO, Better Collective

In the meantime, Jordan Gnat, Playmaker Capital’s co-founder and CEO, said that the deal signifies the start of the next phase of his company’s journey. He thanked the Better Collective team for the incredible confidence they have in what Playmaker Capital has to offer.

I would also like to thank all the Playmaker shareholders for their support of Playmaker and look forward to their continued support of Better Collective as together we become the leading digital sports media group.

Jordan Gnat, co-founder & CEO, Playmaker Capital

Better Collective’s business has been going from strength to strength, as demonstrated by the group’s strong financial results. With Playmaker Capital under its wing, the company remains bullish on meeting its long-term targets.

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The leading hospitality and gaming company, operating properties across Las Vegas, Boyd Gaming, has announced it completed the overhaul of the Fremont Hotel and Casino. The revamp of the downtown Las Vegas casino started last year. Only recently, Boyd confirmed that the renovation, which has a price tag of $50 million, was completed.

Thanks to the overhaul, visitors to Fremont Hotel and Casino can now enjoy additional gaming space. The company confirmed that 10,000 square feet were added to the gaming area, allowing 120 more games to be positioned.

What’s more, Boyd Gaming confirmed that the venue now offers a “more open floor plan,” looking more spacious thanks to higher ceilings. Further improvements to Fremont include a refurbished casino bar, along with a hotel lobby. Additionally, the downtown casino offers a new sportsbook and a new food hall.

Although the $50 million refurbishment was recently completed, Boyd confirmed that different amenities were added in a phased approach since 2022. Besides the addition of more gaming space, higher ceilings and a sports bar, the venue updated its carpeting along with other cosmetic improvements. While Fremont feels familiar it now offers more room for entertainment options.

Earlier this year, when Fremont opened its food hall, Boyd Gaming’s executive VP of operations, Steve Thompson, predicted that Fremont would offer a new look once the refurbishment is completed. Finally, he predicted that the venue would offer a modern look and design.

“Once we’re done, the entire Fremont casino will have the look and feel of this expanded casino space that you see – a modern, exciting new design for one of downtown’s most legendary properties.“

Steve Thompson, executive VP of operations at Boyd Gaming

The Revamped Venue Offers Dining and Entertainment Options

Visitors to Fremont can benefit from its food hall which is close to 14,000 square feet and offers six different dining options. Such include Tomo Noodles, Roli Roti, CRAFTkitchen, Dunkin, Huey Magoo’s and Steak ‘n Shake, a recent report released by Play USA suggests.

Fans of sports can engage in wagering via Fremont’s sportsbook which is FanDuel branded. However, despite the brand name, currently Boyd operates the location which means that the odds may be different than the odds offered by FanDuel.

Recently, several jackpots dropped at Fremont Hotel and Casino, making the visit unforgettable for lucky gamblers. On Friday, a visitor identified as Eva secured a $10.096 jackpot from the Wolf Run Eclipse slot machine.

Before that, on Thursday, one lucky visitor hit the jackpot by playing Pai Gow. The Fremont visitor won the game’s poker progressive jackpot, pocketing some $464,148.

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