MGCB: Internet gaming, sports betting gross receipts Hit USD 154.9M in August
(Michigan).- Commercial and tribal operators in Michigan reported strong revenue in August, judging by recent details released by the Michigan Gaming Control Board (MGCB), the gambling regulator in the state.
Gambling regulator in Michigan reveals results for August
The regulator said Tuesday that the combined total gross internet gaming and internet sports betting receipts in August hit $154.9 million. When compared to the results reported a month earlier, in July, when the same receipts halted at $148.2 million, an increase of 4.5% is observed.
Although when compared to July, the result from last month did not represent a significant increase, this is not the case on a year-over-year comparison. Last year in August, Michigan operators reported $113.1 million in gross internet gaming and sports betting receipts. When this result is compared to the $154.9 million reported this year, in August, an increase of nearly 37% is observed.
Sports betting handle increased last month
According to the MGCB, the $154.9 million in combined gross receipts for August breaks down to $130.9 million in internet gaming gross receipts and $24 million in gross sports betting receipts. When compared to July, the $130.9 million in internet gaming gross receipts marks a slight 3.4% increase. However, the $24 million in gross sports betting receipts represent an 11% increase, when compared July this year.
The regulator revealed that combined total adjusted internet gaming gross receipts and adjusted gross sports betting receipts last month hit $133.6 million. This total breaks down to $16.1 million in internet sports betting receipts and $117.5 million in internet gaming receipts.
Last month, the total internet sports betting handle hit $218.8 million. When compared to the betting handle of $206.1 million, reported a month earlier, an increase of 6.2% is observed.
Tribal and commercial operators contribute with taxes
The gambling regulator provided details regarding the taxes and payments collected by Michigan in August. Overall, internet gaming taxes and fees hit $24.3 million, while internet sports betting taxes and fees for the period were $989,621.
In August this year, tribal operators reported paying $2.9 million in payments to the relevant state bodies. On the other hand, $6.7 million in wagering taxes and municipal fees were paid by the three Detroit casinos to the City of Detroit. This total breaks down to $6.3 million in internet taxes and fees, as well as $360,923 in internet sports betting taxes and fees.
By Jerome Garcia