Michigan’s Online Gaming Market Makes Huge Gains in November

Article by : Erik Gibbs Dec 28, 2024

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The Michigan Gaming Control Board announced a record-breaking gross Internet casino gaming revenue of $175.3 million in November. This marks an all-time high record for the state.

The figure excludes the $37 million generated by online sports betting apps. FanDuel notably contributed to this surge with an 18.9% increase over its previous record in October.

The MotorCity Casino iGaming licensee, along with MGM Grand’s BetMGM, became the only digital casino apps to surpass $40 million in monthly revenue since their launch in January 2021. Compared to November 2022, the gross revenue saw a significant 20.5% increase, reaching $145.4 million.

This marks the third time in 2023 that Michigan’s internet casino operators set a revenue record, with previous milestones in January at $153.7 million and March exceeding $170 million.

The state collected taxes on $157.8 million in adjusted gross revenue, contributing $32.9 million. Michigan has amassed nearly $320 million in taxes from online casino revenue by the end of the year, surpassing the $289.2 million generated in all of 2022.

Detroit received $8.2 million in tax receipts, bringing its year-to-date total to $81 million, while tribal disbursement amounted to $4.1 million, with local jurisdictions receiving $38.9 million in the first 11 months of 2023.

FanDuel achieved a remarkable milestone by surpassing $40 million in monthly gross revenue, marking its third consecutive month of setting new records.

Starting the year below $29 million, FanDuel steadily increased its monthly winnings, with $362.4 million in year-to-date gross revenue, reflecting a substantial 57.8% increase compared to 2022.

MGM Grand remained a frontrunner with $46.7 million in gross revenue, leading all mobile platforms. Despite a 12.9% dip in year-over-year revenue for BetMGM, the competition with FanDuel narrowed, with the smallest gap of $2.8 million in 2023.

Greektown Casino’s rebranded online casino platform showcased growth, claiming $4.1 million in winnings, and commercial gross revenue in November reached an all-time high of $94.8 million, surpassing the previous record set in March.

DraftKings, FanDuel’s rival, achieved its second-best monthly mark in Michigan, with $34.7 million in November, up by 49.2% from the previous year.

DraftKings mobile casino gaming recorded $327.9 million in winnings, a substantial 47.5% increase from the first 11 months of the previous year.

Notably, four mobile platforms affiliated with tribal gaming established monthly records in November. BetRivers achieved consecutive months of $10 million in gross revenue, Caesars surpassed $9 million for the first time, Soaring Eagle set a new high above $3 million, and Bally’s reached just over $1.9 million.

Tribal internet casino gaming collectively generated $80.5 million in gross revenue for November, marking the first time it exceeded $80 million, with the 11 operators amassing $802.3 million in gross revenue in 2023, reflecting an almost 30% increase from the previous year.