Paced By BetMGM Again, $94.9 Million In May Revenue For Massive Michigan Casino Market
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According to the Michigan Gaming Control Board, the lucrative trend of internet gaming in Michigan carried on in May, with operators generating a staggering $94.9 million in revenue. Once again, this impressive figure solidifies the state’s position as one of the frontrunners in the nation.
BetMGM continues its dominance, leading the pack with a remarkable revenue of $36.1 million. The majority of this impressive figure is contributed by BetMGM Casino, while BetMGM Poker also played a part. This significant achievement translates to a substantial 38.0% market share.
Let’s discuss consistency for a moment. The total revenue for Michigan operators experienced a minuscule decrease of only $213.47 from April, which accounts for a mere 0.0002% downturn. In April, the total revenue amounted to $94,851,765.56, while in May, it dropped slightly to $94,851,552.09 (gasp!).
Despite the steady growth of internet gaming, the revenue generated by MI online sports betting declined once again in May, owing to a relatively quieter period in the sports schedule.
FanDuel, DraftKings lead best of the rest
FanDuel Casino generated the second-highest revenue, amounting to $16.3 million, which resulted in a market share of 17.2%. On the other hand, DraftKings Casino secured the third position, accumulating $15.7 million in revenue and holding a market share of 16.5%.
PointsBet Casino, the latest addition to Michigan’s online casinos market, made an impressive debut by generating $612,361 in revenue since its launch on May 4. Play Gun Lake, which entered the market a month earlier in April, reported $506,450 in revenue during 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 reported comparable market share figures for the month of April.
Stars Casino/PokerStars MI’s market share experienced a decline, dropping from 5.0% in April ($4.7 million) to 4.1% in May ($3.8 million). This decrease may be attributed, at least in part, to a quieter period for online poker.
Nearly $400 million of revenue in 4+ months
Operators generated a total of $18.1 million in state taxes and $5.2 million in tax and payment revenue for the city of Detroit, consisting of their earnings from 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 Jan. 22. Additionally, the state has received $71.5 million in taxes, while $20.9 million has been contributed 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 join the market this year.
