Paced By BetMGM Again, $94.9 Million In May Revenue For Massive Michigan Casino Market
The torrid start to Michigan internet gaming continued into May, as $94.9 million in revenue was raised by operators. This total again places the state among the nation’s leaders, according to numbers released Tuesday by the Michigan Gaming Control Board.
In a familiar refrain, BetMGM paced the field, gaining $36.1 million in revenue. The totals mostly arrive from BetMGM Casino with some revenue from BetMGM Poker. The haul amounted to a 38.0% market share.
And talk about consistency: the total revenue for Michigan operators was down just $213.47 from April, a measly downturn of 0.0002%. In April, the total was $94,851,765.56. That number dropped to (gasp!) $94,851,552.09 in May.
Although internet gaming has remained consistent, MI online sports betting revenue numbers were down again in May during a slower portion of the sports calendar.
FanDuel, DraftKings lead best of the rest
FanDuel Casino raised the second-most revenue at $16.3 million, good for a 17.2% market share. DraftKings Casino was third, with $15.7 million of revenue (16.5% share).
The state’s 13th and newest entry into the Michigan online casinos market, PointsBet Casino, debuted with $612,361 of revenue after launching May 4. Play Gun Lake, which launched in April, reported $506,450 of revenue in its first full 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 |
Most operators reported similar market share numbers from April.
Stars Casino/PokerStars MI fell from 5.0% market share in April ($4.7 million) to 4.1% in May ($3.8 million), perhaps in part because of a slower season for online poker.
Nearly $400 million of revenue in 4+ months
Operators raised $18.1 million in state taxes and $5.2 million in tax and payment revenue for the city of Detroit. The revenue is the operator winnings from online casino gaming and online poker. Tribal governments netted $1.9 million in tax payments from operators.
Since the Jan. 22 launch of internet gaming, $393.9 million of revenue has been raised, and $71.5 million in state taxes have been paid, along with $20.9 million to Detroit and $7.3 million to tribal governments.
Two more operators should launch this year, as FireKeepers and Soaring Eagle have said they will begin offering online casino products.
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