Michigan iGaming Revenue Hits All-Time High in January

Michigan's online gambling industry experienced unprecedented growth in January, with gross iGaming revenue reaching an all-time high of $181.9 million. This surge represents a remarkable 18.4% increase compared to the same period last year.

Total gross revenue from online gambling, including iGaming and sports betting, amounted to $229.6 million, showcasing a robust expansion of 22.6% year-on-year. Despite a slight decline from December's record of $242.5 million, January's figures reflect a thriving digital gambling market in the state.

Alongside iGaming, sports betting also contributed significantly to Michigan's gambling landscape. Gross receipts from sports betting surged to $47.7 million, marking a substantial 40.7% increase compared to January 2023. Despite a decline from December's figures, the total amount wagered in January reached $577.4 million, indicating sustained interest in sports betting activities.

Licensed operators in Michigan made substantial tax contributions to the state and local governments. In January alone, operators paid $31.3 million in taxes and fees to the State of Michigan, with an additional $8.5 million contributed to the City of Detroit. Tribal operators also reported contributing $3.6 million to governing bodies.

While online gambling flourished, Detroit's land-based casinos experienced a downturn in revenue. Monthly revenue from the city's three casinos dropped by 8.8% year-on-year, totaling $94.4 million. This decline underscores a shifting trend towards digital gambling platforms amid changing consumer preferences.

In terms of market share, MGM retained 48% of the market in January, followed by MotorCity with 30%, and Hollywood Casino at Greektown with 22%.

Michigan's burgeoning online gambling sector continues to redefine the state's gambling landscape, demonstrating substantial growth potential and economic contributions.