August is the third-best month on record for Michigan’s iGaming and sports betting operators
Wednesday 18 de September 2024 / 12:00
⏱ 1 min read
(Detroit).- Michigan online casinos outperformed expectations. Commercial and tribal operators reported a combined $224.02 million total internet gaming (iGaming) gross receipts and gross sports betting receipts in August. Gross receipts increased 1.4% compared to last month.
Licensed operators in that gaming vertical in Michigan recently reported their strongest August on record and third-best total for any month to date. With that, the current fiscal year continues its strong start.
Michigan online casinos reveal lucrative August
According to a news release from the Michigan Gaming Control Board, regulated online casino play produced almost $196.7 million in gross win during August. That’s a 22.6% increase compared to the previous high for MI gaming revenue in August 2023.
All-time, that total is only short of March and May of 2024. In March 2024, MI casinos won nearly $215.2 million, and $198.6 million in May from players.
After taking allowable deductions, licensees owe the state about $36.5 million in taxes on online casino revenue. Likewise, that’s the third-highest monthly total ever in Michigan in that regard.
Not all of them will contribute to that total equally, though.
Usual suspects lead the way in August
For the month, BetMGM Casino was again the market leader in Michigan. BetMGM accounted for almost 27.7% of adjusted gross revenue during August.
Following them are FanDuel and DraftKings, respectively, as is usually the case. Those are the only three operators whose shares accounted for more than 20% of the whole.
To put August in further context, Michigan online casino win has surpassed $190 million in five of the past six months now. June is the only outlier in that stretch.
Categoría:Reports
Tags: Sin tags
País: United States
Región: North America
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