Michigan iGaming sets monthly record with $244m in revenue for December 2024
The MGCB also reported the FY2024 financial results for iGaming and sports betting, with its combined revenue of $2.9bn representing a 23.8% increase year-over-year.
Key Points
- Combined with sports betting, the total revenue generated by both game types throughout December 2024 was $264.2m, an increase of nearly 9% year-over-year
- Sports betting failed to generate similar success to that of iGaming, decreasing by 66.9% from the prior year period for a revenue of $20.2m during December
The Michigan Gaming Control Board (MGCB) has reported the financial results for iGaming and sports betting in the state throughout December 2024, with the two gaming types combining for a total revenue of $264.2m, representing an increase of nearly 9% year-over-year.
The MGCB also reported the state’s full-year (FY) 2024 revenue for iGaming and sports betting which was $2.9bn and increased 23.8% from the prior year period. iGaming accounted for $2.4bn of the total revenue for FY2024, while sports betting managed to generate $460.5m which represent increases of 26.3% and 9.5% year-over-year, respectively.
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The $244m of iGaming revenue generated throughout December 2024 is the highest monthly total ever recorded in the state, surpassing the previous high set during November 2024 and representing a 34.5% increase from the prior year period.
Sports betting in Michigan failed to produce the same success as iGaming during December, reporting a monthly revenue of $20.2m and decreasing by 66.9% year-over-year.
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Good to know: Light & Wonder partnered with Penn Entertainment on January 16 to launch its player engagement product portfolio in Michigan via the operator’s online Hollywood Casino
Michigan’s total internet sports betting handle throughout December 2024 was reported to be $597.7m, representing an increase of 2.5% from the prior year period. The FY2024 sports betting handle was $5.3bn, increasing by 15.2% year-over-year.
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In total monthly adjusted revenue, the MGCB reported that iGaming and sports betting generated $219.9m throughout December 2024 and increased by 10.8% from the prior year period. iGaming accounted for $219.6m of the total adjusted revenue reported for December, while sports betting produced the remaining $267.9k.
Tribal operators reported making $55.3m in payments to governing bodies during FY2024, $5.7m of which was made throughout December 2024.
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