Michigan had a great month when it came to online casino gaming. According to the state’s Gaming Control Board, the gross revenue in November was $175.3 million, which is a record-breaking amount.
To that amount can be added $37 million earned from online sports betting apps, since they weren’t included in the first place.
New record broken:
The previous record was set in March and it was $171.8 million.
The main reason for the new record was FanDuel, which earned 18.9% more than its previous record of 37 million set in October. On top of that, the MotorCity Casino iGaming licensee was the second digital casino app to earn more than $40 million in one month. The first one to break that record was the renowned BetMGM.
Compared to the same month’s previous year, the gross revenue was 20.5% higher. In November 2022, the state earned $145.4 million in online gaming revenue, and the results were also record-breaking.
The monthly record in Michigan had been set three times during this year. The first record was set in January when the revenue reached $153.7 million, and the second was in March.
The state generated tax revenue of $157.8 million in adjusted gross revenue, which resulted in an inflow of $32.9 million. The online casino revenue brought a bit less than $320 million in taxes, which is $30.6 million more than at the end of 2022.
The city of Detroit earned $8.2 million, increasing the annual revenue up to $81 million, and tribes got $4.1 million, while local jurisdictions earned $38.9 million so far.
Companies’ successes:
This fall was especially successful for FanDuel, which succeeded in hitting its own record three times in a row and surpassing a milestone of $40 million per month.
MGM Grand was the most successful in the state when it came to the mobile platforms. The company earned $46.7 million in gross revenue. However, FanDuel is a real threat to the company, since the gap between the two industry giants has never been smaller – MGM Grand generated only $2.8 million more than FanDuel.
The company is still a leader, but its revenue decreased 12.9% compared to November last year.
Other platforms were also successful: PENN Entertainment earned $4.1 million in winnings, and commercial gross revenue hit a record of $94.8 million. Three platforms from Detroit earned a gross revenue of $940.1 million, which is more than in the whole of 2022 when the revenue was $899.7 million.
According to MiBets, DraftKings was successful as well – in November the company earned $34.7 million, which is a 49.2% increase compared to the results from 2022.
Tribal gaming in the state also achieved huge success. The whole revenue was record-breaking, and BetRivers surpassed $10 million for the first time. Caesars earned $9.1 million.
Soaring Eagle also hit the record with $33,123 above its previous $3 million and Bally’s surpassed $1.9 million.
Tribal internet casinos got $80.5 million, and the annual revenue so far was $802.3 million, earned by 11 operators.
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