Michigan iGaming revenues surpass $200m mark for just the second time

Michigan is in buoyant mood on the back of a superb month for iGaming revenues. According to the latest figures published by the Michigan Gaming Control Board (MGCB), iGaming contributed $202.6 million in revenue in September.

Combined with online betting, total gaming revenues hit $261 million in the Wolverine State. Reflected as gross receipts, the figure is 21.4% higher than last year and it climbed more than 16% compared to August of this year.

Growth in iGaming and betting

Adjusted gross receipts, which accounts for promotional spending and activities, sat at $209.9 million. On this front, this bettered last year’s total by 24.6% and it was more than 2.5% higher than August.

• iGaming revenue surpassed $200m for only the second time in Michigan’s history.

• March 2024 remains the record month with $215.5m in iGaming revenue.

• September’s strong results reinforce the sector’s growth trajectory.

Market leaders in iGaming

While the MGCB didn’t break down the iGaming market by type, BetMGM continues to lead the way.

• BetMGM & MGM Grand Detroit: $53.4m in GGR and $48m in AGR.

• FanDuel & MotorCity Casino: $48.8m in GGR.

• DraftKings & Bay Mills Indian Community: $38.2m in GGR.

Sports betting on the rise

In terms of sports betting, things also look rather promising, with GGR reaching $58.4m. This smashed last year’s total by 32.7%, and it is the second-highest month on record since the market opened, falling just short of December 2023’s return ($61.1m).

• FanDuel & MotorCity Casino lead the market with $24.4m in gross receipts.

• Handle reached $180.1m with a 13.55% hold.

• Sports betting growth complements the iGaming surge.

Enforcement against illegal operators

Michigan, which has a significant illegal online gambling presence, has been trying to crack down on this. Recently, Papaya Gaming was sent a cease-and-desist letter telling them to stop operations.

Conclusion
As things seem to show, Michigan appears to be in robust shape when it comes to iGaming. Perhaps hitting the $200m revenue mark more regularly in the future won’t come as much of a surprise moving forward.