Michigan reports 8.7% decrease in monthly iGaming and online sports betting revenue
The state had reported its highest recorded revenue total in the month of March, including $215.5m from iGaming alone.
Michigan commercial and tribal operators have reported the April financial results for iGaming and online sports betting revenue. The state had set a record in March by generating $257.08m in gross gaming revenue but saw that figure fall to $234.8m in April, still the second highest total ever recorded in Michigan.
The decrease can be attributed to the fall in iGaming revenue from what was reported in March. iGaming gross revenue was reported to be $192.9m in the month of April, following a record high total in March of $215.15m. Online sports betting revenue barely saw a decrease, only going from $41.93m to $41.9m.
Combined total iGaming and internet sports betting adjusted gross receipts (AGR) for April were $201.93m, $174.16m of which came from iGaming and $27.77m from internet sports betting. These figures represent an iGaming AGR decrease of 10.4% and a sports betting increase of 4.1% when compared to last month. Compared to April 2023, iGaming AGR was up by 21.4% and sports betting was up by 13.3%.
The total internet sports betting handle for April was at $399.1m, down by 16.9% from the handle recorded in March 2024. The operators reported submitting $37.6m in taxes and payments to the state during April, $35.8m coming from iGaming taxes and fees while the remaining $1.8m stemmed from Internet sports betting taxes and fees.
As of April 2024, a total of 15 commercial and tribal operators have been authorized to launch iGaming and/or internet sports betting. Currently, 13 commercial and tribal operators offer internet sports betting and all 15 operators offer iGaming.
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