Combined gross revenue of $176.1M

Michigan sees 4% monthly boost in July online casino gaming, sports betting revenue

Reading time 1:40 min

Michigan's gaming industry continues to grow as commercial and tribal operators reported a combined gross revenue of $176.1 million from internet casino gaming and sports betting in July. This marks a 4% monthly increase compared to June's total of $169.3 million.

The Michigan Gaming Control Board has provided insights into this revenue surge, breaking it down into two categories: gross receipts from internet gaming and gross sports betting receipts.

In July, iGaming raked in $153.6 million, while gross sports betting receipts amounted to $22.5 million. Comparatively, June 2023 saw internet gaming receipts at $151 million and gross sports betting at $18.3 million.

Taking a closer look at the combined adjusted gross receipts (AGR) for both internet gaming and sports betting in July, the figure stands at $154.6 million. Out of this total, iGaming contributed $138.2 million, while online sports betting accounted for $16.4 million.

This data reveals a 1% increase in online gaming AGR and a 77.5% increase in mobile sports betting AGR compared to June 2023. Furthermore, these numbers also indicate growth compared to July 2022, with internet gaming AGR up by 18% and online sports betting AGR up by 16.8%.

Despite the strong performance in these areas, online sports betting saw a decrease in handle, which amounted to $200.8 million in July, marking an 11.9% decline from June's $227.9 million.

Operators contributed their share to the state's revenue, submitting a total of $29.8 million in taxes and payments during July. This sum includes $28.7 million from internet gaming taxes and fees and $1.1 million from internet sports betting taxes and fees.

Additionally, the City of Detroit benefited from gaming activity in July, receiving $7.6 million in wagering taxes and municipal service fees from its three casinos. Tribal operators also played their part, contributing $3.5 million in payments to governing bodies.

Land-based gaming also up

Earlier this month, the state's Gaming Control Board released a separate report for land-based gaming. Physical casinos in Detroit reported a monthly revenue of $107.2 million, primarily generated by table games and slots, which accounted for $106.7 million.

Retail sports betting contributed an additional $477,543 to this figure. This performance reflects a 4.8% increase in revenue from table games and slots compared to the previous month and a 0.7% growth compared to July 2022.

Breaking down the market share among the three Detroit casinos, MGM Grand Detroit Casino led the pack with 47%, followed by MotorCity Casino at 29% and Hollywood Casino at Greektown at 24%.

Leave your comment:
Subscribe to our newsletter
Enter your email to receive the latest news
By entering your email address, you agree to Yogonet's Condiciones de uso and Privacy Policies. You understand Yogonet may use your address to send updates and marketing emails. Use the Unsubscribe link in those emails to opt out at any time.