Michigan’s Online Gambling Landscape: A June Snapshot
In June, Michigan’s online gambling scene saw impressive activity, with digital casinos generating a significant $240.6 million. This figure contributed to an overall gross revenue of $285.2 million from both iGaming and sports betting—marking the second-highest monthly total since the state’s regulated gaming sector was established.
While this total didn’t surpass May’s record of $301.4 million, it did represent a remarkable 40.8% increase from June of the previous year, which garnered only $214.1 million, as reported by the Michigan Gaming Control Board.
After taking promotional expenses into account, the adjusted gross receipts were lower at $256.5 million, reflecting a 5.6% decrease from last year.
Strong Growth in iGaming
Digging deeper into the numbers, iGaming comprised the bulk of the revenue at $240.6 million, showcasing a robust year-over-year growth of 31.3%. However, adjusted gross revenue for iGaming saw a slight dip of 4.3%, totaling $226 million.
Leading the pack in this domain were FanDuel and MotorCity Casino, which generated $62.3 million in gross receipts and $58.6 million in adjusted revenue. While they held the number one spot in May, they dropped slightly to second in June, with a reported split of $60.3 million in gross receipts.
DraftKings, in tandem with the Bay Mills Indian Community, maintained its third-place position with revenues split at $38.7 million and $36.4 million respectively. Overall, the commercial iGaming tax contributions for June amounted to $47.1 million, with Detroit collecting an additional $11.8 million and tribal operators contributing $5.8 million in taxes.
Rising Sports Betting Figures
In parallel, the online sports betting sector saw gross revenues of $44.6 million, showcasing a notable increase of 44.3%. Despite this growth, adjusted gross revenue took a hit, dropping 14.4% to $30.5 million. Bettors were quite active, placing $302.7 million in wagers during June, up 9.4% from the previous year, which resulted in a monthly hold of 14.73% based on gross revenue.
FanDuel and MotorCity Casino again led this segment, with a gross revenue of $18.5 million from a handle of $103.4 million, achieving a 17.89% hold. DraftKings and the Bay Mills Indian Community closely followed, collecting $13.1 million from $95 million in wagers for a 13.79% hold. BetMGM and MGM Grand Detroit ranked third, accruing $5.4 million from a $40.9 million handle for a 13.2% hold.
Tax payments from sports betting to the state exceeded $1.8 million, with Detroit receiving $527,932 in total.
Detroit’s Commercial Casino Performance
The land-based casino market also had a busy June, with total revenue from Detroit’s three commercial casinos hitting $101 million—a 4.2% decline compared to last year’s numbers. Of this, table games and slot machines alone brought in $100.4 million, with sports betting contributing $665,435.
MGM Grand Detroit led the market, commanding a 48% share, followed by MotorCity at 31%, and Hollywood Casino capturing 21% of the market. State gaming taxes from this segment reached $8.1 million, while Detroit garnered $11.9 million in revenue, alongside further contributions from state retail sports betting taxes.
In summary, Michigan’s online gambling sector continues to flourish, boasting substantial gains as it adapts and expands within a competitive landscape.