Michigan igaming operators see revenue dip in August

Michigan commercial and tribal operators saw igaming and sports betting revenue dip slightly in August in comparison to the previous month, but it was significantly higher on a year-over-year basis.

According to data from the Michigan Gaming Control Board, the 15 online casino and sports betting operators in the Wolverine State earned a combined gross receipts of $175.4m in August, down 0.4 per cent when compared to July’s $176.1m.

However, this figure was up by 13.2 per cent YoY in comparison to August 2022’s figure of just $154.9m.

During the month, Odawa Casinos stopped offering online sports wagering, reducing the number of internet sports betting operators in the state to 14.

Total sports wagering handle in August was $218.5m, an 8.8 per cent increase over the $200.8m reported the previous month, but slightly lower than the $218.8m recorded during the same month in 2022.

Per vertical, Michigan’s igaming operations in August earned $152.2m in gross receipts (July: $153.6m, 2022: $130.9m), while online sports betting came in at $23.2m (July: $22.5m, 2022: $24m).

In terms of adjusted gross receipts, combined igaming and online sports betting AGR came in at $153.1m – $137.2m from igaming and $15.9m from online sports betting.

Igaming’s AGR was a 0.7 per cent decrease on July’s figures ($138.2m) and a 16.8 per cent increase YoY ($117.5m). Sports betting’s AGR was a 3 per cent drop on the previous month ($16.4m) and a 1.3 per cent decline YoY ($16.1m).

Michigan operators reported submitting $29.7m in taxes and payments to the state during August – online casino: $28.6m, online sports betting: $1.1m.

Detroit’s three casinos paid the City of Detroit $7.3m in wagering taxes and municipal services fees – online casino: $6.9m, online sports betting: $368,596. Tribal operators paid $3.6m to governing bodies.