Michigan reports $218.5m in iGaming & sports betting revenue for February

March 20, 2024
By
Leer en Español

Both Michigan commercial and Tribal operators reported a combined 4.8% decrease from January.

Commercial and Tribal online gambling operators in Michigan have reported $218.5m in iGaming revenue for February, marking a 4.8% decrease in gross receipts from January. 

Overall, the total monthly handle for internet sports betting had fallen by 30.3% to $402.6m from January's figures. However, iGaming gross revenuereached their highest total to date, hitting $188m and beating the previous high of $181.9m recorded the month before. Sports betting revenue, on the other hand, fell from $47.7m in January to $30.5m for February.  

Combined, total internet sports betting and iGaming adjusted gross receipts (AGR) for February in Michigan totaled $182.1m. Of this, $169.2m came from iGaming, with the remaining $12.9m coming from online sports betting – this marked a 3.1% increase for the iGaming sector from January. Further, compared to February 2023, online sports betting AGR was up 52.7% and iGaming AGR up 27%.  

Operators reported a total of $34.7m in taxes and payments to the state of Michigan. The state’s largest city, Detroit, has three casinos – which paid a combined total of $9.3m in wagering taxes and municipal service fees to the City of Detroit in February. Tribal operators also reported a total of $3.9m in payments to governing bodies during the month.  

In 2023, Michigan-based sports betting operators reported a combined $2.3bn in revenue. In addition, the state has recently signed a five-year deal with Pollard Banknote – making them the sole supplier of all its lottery ticket products.

With online casinos, iGaming products and virtual sportsbooks pouring into the state, officials will hope this forward-thinking deal, alongside these latest revenue figures, will spell a continuous upward trajectory for the state’s gambling industry.  

State-by-State

Product Spotlight

Konami

Things get unruly in the company of some fleecy characters in the new Konami Gaming’s new Unwooly Riches slot series.
GA HUDDLE #089

Brian Uran - AI has shown casinos new ways to think about business

GA HUDDLE #088

Adam Wexler: PrizePicks almost went out of business during Covid - but now...

Roughly six years after speaking to Gambling Insider as an upcoming start-up, PrizePicks CEO Adam Wexler joins the Huddle to reflect on huge growth since - which almost ground to a halt during the Covid-19 pandemic.

We cover:

- Entrepreneurship, regulatory changes and the pandemic

- Offering a different customer experience and differentiating by product

- Fantasy sports being strong enough without sports betting

- Barriers to entry in the fantasy market

- Opposition from FanDuel and DraftKings

- Targets, plans and the Philippines

- US markets and the future of fantasy


Five years ago, before the mass proliferation of social media we see today – and even before the Covid-19 pandemic – I think you would be hard pressed to find a CEO talking about “Instagrammable moments.” KPIs w...

gga
The Global Gaming Awards: Looking ahead to 2024's ceremonies.
After more than a decade of celebrating gaming's best, Gaming America looks ahead to a bright 2024 for the Global Gaming Awards in the Americas and Asia-Pacific.
GA
From the top: The Indian Gaming Tradeshow & Convention
Tribal gaming is a uniquely American institution and all its uncommon attributes were on display this April at the Indian Gaming Tradeshow & Convention in Anaheim, California.
terre
Review: Terre Haute Casino Resort and Harrah's Hoosier Park Racing & Casino
Terre Haute Casino Resort vs. Harrah's Hoosier Park Racing & Casino, Gaming America's Laura Mack reviews each property.
andrew
Eureka Casino interview: CEO Andre Carrier on resort expansion
We spoke with returning guest, CEO Andre Carrier, about Eureka Casino Resort's expansion. He aims to not only change the look and feel of the casino, but to also build residential housing around it.