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After the Michigan Gaming Control Board granted its approval, PointsBet officially announced the launch of its inaugural online casino on Tuesday afternoon.
Michigan has been selected as the inaugural jurisdiction for online casino play by the Australian operator, which introduced online sports betting in the state on Jan. 22. PointsBet now adds to Michigan’s array of online casino options, making it the 13th choice available.
PointsBet focuses company innovation in Michigan
PointsBet has had several groundbreaking experiences in Michigan, such as forming its initial tribal alliance. Last year, PointsBet established a partnership with the Lac Vieux Desert Band of Lake Superior Chippewa Indians, marking their inaugural collaboration with a tribal entity. The tribe manages Northern Waters Casino Resort, located in Watersmeet, near the Wisconsin border.
PointsBet made history by becoming the initial sports betting operator to collaborate with the Detroit Tigers, an MLB team. They also secured a groundbreaking partnership with Richard Hamilton, a celebrated Michigan athlete from the Detroit Pistons. Additionally, PointsBet became the proud holder of naming rights for a bar situated at Little Caesars Arena.
Richard Kalm, the executive director of the Michigan Gaming Control Board, announced in a news release that the Lac Vieux Desert tribe has fulfilled all regulatory requirements and has become the 12th operator to provide both forms of online gaming. The revenue generated from this endeavor will be allocated towards supporting K-12 education, economic development, and the local tribal governing body.
However, there are only two license holders left without any online gambling products as the company prepares to launch its casino. FireKeepers and Soaring Eagle have announced their intentions to introduce sports betting and internet gaming products under their own reputable casino brands.
Online casino PlayGunLake was launched by the Gun Lake Tribe last month, however, online sports betting is yet to be initiated.
PointsBet opens with a dozen slot titles, other games
PointsBet launched its inaugural online casino featuring a collection of 12 slot titles, as well as three table games and two variations of video poker.
PointsBet offers a variety of slot options, including well-known titles like IGT’s Wolf Run and Da Vinci Diamonds. Additionally, players can enjoy blackjack, baccarat, and roulette games on PointsBet.
In the upcoming weeks, PointsBet is anticipated to make substantial enhancements to its game collection and promotional framework.
Michigan online casinos on fire since January launch
The presence of Michigan online casinos has propelled the internet gaming market to unparalleled success in this region.
With regards to overall revenue from internet gaming, the state ranks third, following New Jersey and Pennsylvania, which includes the smaller online poker earnings as well.
In March, Michigan accumulated a stunning $95.1 million in revenue from internet gaming, leading to an impressive total of $204.2 million within the initial 69 days.
Last week, PointsBet presented its quarterly figures through March during an earnings call, showcasing remarkable growth in the United States.
Sports betting wagers for PointsBet surged by a massive 431% to reach $375 million, marking a significant increase compared to the previous year. Additionally, the company reported a striking 461% rise in active users, reaching a total of 127,470. This user growth is an impressive 87% increase since December 31, 2020.
PointsBet ranks fifth in Michigan’s online sports betting market, with a total betting handle of $22.6 million, capturing a market share of 2.9%.
So far, a group of four major players, namely FanDuel, BetMGM, DraftKings, and Barstool Sportsbook, have emerged as the leaders in the market.
The inclusion of an online casino is expected to further stimulate the growth of PointsBet.
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