Caesars Palace November Revenue Milestone Signals Future Growth

Article By Larry Henry

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Larry Henry is a veteran print and broadcast reporter and editor who has been a political editor at the Las Vegas Sun and managing editor at KFSM-TV, the CBS affiliate in Northwest Arkansas. Larry also has experience with media outlets in other states with gaming, including Tennessee and Louisiana.

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Last Updated: Mar 14^th, 2024

Caesars Palace debuted in the Michigan online casino market in mid-August as a standalone platform from the Caesars brand. From its start, Caesars Palace positioned itself as one of the better-performing operators vying with BetRivers Casino for fourth place in the market. 

According to monthly revenue data published by the Michigan Gaming Control Board for November, Caesars Palace generated $9.1 million in revenue for the month, setting a new record for the brand. Previously, September was its best-performing month with $7.2 million. This operator outperformed its October figures by $2 million, rising from $5.9 million to $9.1 million, signaling a growth in the dynamic online casino Michigan market. Caesars Palace held a 5.2% market share in the Great Lakes State in November.

Enhance Caesars Casino Edition 

Caesars Palace is an enhanced and standalone version of the Caesars online casino integrated into the Caesars Sportsbook. The standalone app offers a larger number of games with over 600 slots and more features, allowing players a better option for using their Caesars Rewards and Michigan online casino promotions. Caesars is actively working on improving the quality of the lobby, concluding a partnership early this month with developer EveryMatrix, granting it access to its catalog of Armadillo Studios games.

At the start of November, it was revealed that Caesars Palace will acquire hybrid dealer games from Inspired Entertainment. This type of game is a new industry trend merging sophisticated computer-generated images with a random number generator that decides the outcome of the games. The endeavors to bolster the lobby quality indicate a commitment by Caesars to make its new casino app competitive in Michigan and across other markets.

Substantial Growth in 2023

The original casino section of Caesars Sportsbook is still operating. At the time of Caesars Palace launch, the company notified players that they would be able to access casino games via the sportsbook app for the foreseeable future. There is no official information about what revenue percentage comes from the online casino attached to the sportsbook compared to the new platform.

However, over its short four-month solo endeavor, Caesars Palace achieved a lifetime revenue of $29.1 million, while in the previous eight months of 2023, Caesars Casino generated $55.6 million in revenue. Looking at the numbers an evident growth trajectory has emerged since the launch of the new Caesars Palace Casino.

It is necessary to point out that even before the launch of the new casino app, Caesars was experiencing a 28.6% growth over the first seven months of 2023, compared to the same period in 2022, according to the monthly revenue reports published by the MGCB. The complete picture of Caesar Palace performance in 2023 will become available at the end of January 2024, when the Michigan Gaming Control Board will publish its revenue report for December and provide a summary for the entire year.

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Larry Henry is a veteran print and broadcast reporter and editor who has been a political editor at the Las Vegas Sun and managing editor at KFSM-TV, the CBS affiliate in Northwest Arkansas. Larry also has experience with media outlets in other states with gaming, including Tennessee and Louisiana.

Read Full Bio

Larry Henry

Last Updated:   Mar 14^th, 2024

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