Michigan Online Casinos Break Records with $175.3M in Revenue

Michigan's iGaming industry has hit an all-time high, setting a new record with a staggering $175.3 million in gross gaming revenue (GGR), according to the Michigan Gaming Control Board (MGCB). This remarkable achievement surpasses the previous record of $171.8 million set in March 2023. Notably, these figures do not include the $37 million generated through online sports betting, which further demonstrates the state's iGaming prowess. This success coincides with a strong month for sportsbooks and the launch of ESPN Bet.

November saw several standout performers in the iGaming sector, with MGM Grand's BetMGM leading the way by raking in an impressive $46.7 million in a single month. Online casinos have shown consistent growth since last year, recording a 20.5% increase in GGR compared to November 2022's $145.4 million. The City of Detroit anticipates a substantial tax windfall, with expectations of surpassing $81 million in tax revenue this year, largely thanks to the thriving iGaming industry.

FanDuel, the iGaming operator for MotorCity, contributed $43.9 million to the overall revenue, while DraftKings' online casino operators added another $34.7 million. These key players continue to drive the success of Michigan's iGaming sector.

While online casinos flourish, land-based counterparts faced challenges during November. MotorCity, Greentown, and MGM Grand collectively generated only $76 million in revenue from their physical operations, marking a significant 24% decline from November 2022. MGM saw the steepest decline with a 34% drop, posting $30.6 million. MotorCity's revenue decreased by 18%, while Greentown's earnings were down by 11%. However, the recent resolution of union strikes has led to employees returning to physical casinos.

The protests in Detroit played a role in the surge of iGaming, as they prompted players to explore online alternatives amidst the uncertainty. Despite appeals from union leaders for players to wait for the normalization of land-based operations, online casinos have continued to thrive. The future of Michigan's iGaming industry looks promising, with potential for even greater growth in the coming months.