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Michigan’s internet gaming industry had a scorching start that extended into May, with operators generating $94.9 million in revenue. According to data released on Tuesday by the Michigan Gaming Control Board, this impressive figure once again positions the state as one of the frontrunners in the nation.
BetMGM once again led the pack, raking in $36.1 million in revenue, primarily driven by its BetMGM Casino platform, with a supplementary contribution from BetMGM Poker. This impressive earnings secured them a substantial 38.0% market share.
Let’s discuss the matter of consistency: despite a minuscule decrease of 0.0002%, the total revenue for Michigan operators in May experienced a decline of only $213.47 compared to April. The revenue for April amounted to $94,851,765.56, whereas in May, it slightly dropped to $94,851,552.09 (gasp!).
In spite of the continued popularity of internet gaming, the revenue figures for MI online sports betting experienced a decline in May due to a relatively inactive sports calendar.
FanDuel, DraftKings lead best of the rest
In terms of revenue, FanDuel Casino secured the second-highest position, generating $16.3 million and capturing a market share of 17.2%. DraftKings Casino followed closely in third place, earning $15.7 million in revenue, accounting for a 16.5% market share.
PointsBet Casino, Michigan’s latest addition to the online casinos market, generated $612,361 in revenue following its launch on May 4. Play Gun Lake, which had debuted in April, reported a revenue of $506,450 in its first complete month online.
| Licensee | Brand | Revenue | Promos | State Tax | Local Tax |
|---|---|---|---|---|---|
| MGM Grand | BetMGM | $36,089,904 | $0 | $7,073,621 | $3,482,676 |
| MotorCity | FanDuel | $16,314,671 | $1,631,467 | $2,877,908 | $1,416,929 |
| Bay Mills | DraftKings | $15,677,721 | $1,567,772 | $3,160,629 | $790,157 |
| Little River | BetRivers | $6,644,089 | $664,409 | $1,339,448 | $334,862 |
| Sault Ste. Marie | WynnBet | $4,329,115 | $432,912 | $846,734 | $211,683 |
| Little Traverse Bay | Fox Bet | $3,846,191 | $384,619 | $775,392 | $193,848 |
| Keweenaw Bay | Golden Nugget | $3,835,192 | $383,519 | $708,945 | $177,236 |
| Greektown | Barstool | $3,353,917 | $335,392 | $580,913 | $286,694 |
| Pokagon | Four Winds | $1,833,309 | $183,331 | $280,790 | $70,197 |
| Hannahville | TwinSpires | $1,533,803 | $153,380 | $242,954 | $60,739 |
| Lac Vieux Desert | PointsBet | $612,361 | $0 | $97,978 | $24,494 |
| Match-E-Be-Nash-She-Wish | Play Gun Lake | $506,450 | $50,645 | $72,929 | $18,232 |
| Grand Traverse | William Hill | $274,827 | $0 | $43,972 | $10,993 |
| Total | $94,851,552 | $5,787,446 | $18,102,213 | $7,078,742 |
The majority of operators shared comparable market share figures for the month of April.
The market share of Stars Casino/PokerStars MI experienced a decline from 5.0% in April ($4.7 million) to 4.1% in May ($3.8 million), potentially influenced by a decrease in online poker activity due to a slower season.
Nearly $400 million of revenue in 4+ months
Operators generated $18.1 million in state taxes and $5.2 million in tax and payment revenue for the city of Detroit, stemming from their winnings in online casino gaming and online poker. Additionally, tribal governments received $1.9 million in tax payments from these operators.
Internet gaming has generated a total revenue of $393.9 million since its launch on January 22. Additionally, it has contributed $71.5 million in state taxes, $20.9 million to Detroit, and $7.3 million to tribal governments.
FireKeepers and Soaring Eagle have announced their plans to introduce online casino products, indicating that two additional operators will be launching this year.
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