Online casino fails to offset Michigan sports betting declines in January

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An online casino record performance through the month of January failed to offset a digital sports betting decline as Michigan tracked an overall drop to kick-off the year.

The Wolverine State’s commercial and tribal operators reported that combined gross receipts through the 31 days came in at $187.3m, which represents a 7.1 per cent drop from December’s $201.6m.

During the month, igaming receipts surged a fresh record after closing the month at $153.7m, which is up less than one percentage point from the previous best of $152.8m that was tracked during December 2022.

However, sports betting dropped 31.1 per cent, despite the impending Super Bowl NFL spectacle looming on the horizon, to finish up at $33.6m (December 2021: $48.8m).

Combined adjusted receipts fell 7.2 per cent month-on-month to $156.17m (December 2021: $168.23m), with igaming up 0.6 per cent from the $137.47m gained in December to $137.47m. However, this figure is up 26.7 per cent from $109.18m year-on-year.

Commercial and tribal operators reported a combined total of $17.85m in internet sports betting adjusted gross receipts, which is down 42 per cent and 6.9 per cent from the $30.76m and $19.17m recorded during December and January 2022, respectively.

Total handle of $475.6m represents a slight drop of 0.7 per cent from $478.7m in December, with that figure also down 4.3 per cent from $496.8m one year earlier.

The month also saw operators deliver $26.1m in taxes to the state, with online casino contributing $24.9m and online sports wagering occupying the remaining $1.2m.

Furthermore, the three Detroit casinos reported wagering taxes and municipal services fee payments of $7.5m to the city. Igaming and sports betting supplied $7m and $533,763, respectively. Tribal operators reported paying $2.7m to governing bodies in January.

During January, a total of 14 operators offered igaming, and one tribal operator ceased offering internet gaming during 2022. A total of 15 commercial and tribal operators offered internet sports betting.