Michigan online gambling declares monthly revenue slide through May

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A familiar tale of the year thus far continued through May as the Michigan Gaming Control Board declared another monthly revenue slide over the course of the 31 days, following the lead set by the state’s land-based ecosystem.

This latest report tracked a total of 15 operators, with combined revenue from commercial and tribal operators across igaming and online sports betting closing at $185.8m, down 5.1 per cent from the previous month’s $195.7m.

Breaking this figure down, online gaming gross receipts came in at $150.6m, with sports betting’s May figure reported as $35.2m. These represent month-on-month decreases of 5.51 per cent and three per cent from $159.4m and $36.3m, respectively.

Combined adjusted gross receipts for the pair came in at $157.5m, with igaming representing $135.5m of the figure and sports wagering occupying the remaining $22m.

On a MoM basis, these are downfalls of of 5.5 per cent and 10.2 per cent from $143.4m and $24.5m. When contrasted to the same timeframe one year earlier, online gaming secured a 19.1 per cent uptick from $$114.7m, while the latter dropped two per cent from $22.5m.

In addition, total online sports betting handle finished the month at $288.3m, which is down from 10.7 per cent and 13.5 per cent from the $322.8m and $333.4m reported in April 2023 and May 2022, respectively.

The Wolverine State’s operator’s also reported $29.4m in taxes and payments to the state through the month, with igaming contributing $28m and sports wagering providing $1.4m. Tribal operators reported making $3.4 million in payments to governing bodies in May.

Furthermore, Detroit’s three casinos paid $7.6m to the city in wagering taxes and municipal services fees during May, with igaming and sports making up $7m and $642,422 of that figure.

Earlier in the month, this trio of establishments, MGM Grand Detroit, Hollywood Casino at Greektown and MotorCity, reported revenue of $105.6m, which represents a drop of 3.73 per cent from April’s $109.7m.