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Michigan igaming revenue reaches record $181.9m in January

Total gross online gambling revenue, comprising igaming and sports betting, amounted to $229.6m. This was 22.6% ahead of $187.3m in  Michigan last January  but 5.3% less than  December’s $242.5m record for total gambling revenue.

Figures include licensed commercial and tribal igaming operators in Michigan.

Gross igaming revenue was 18.4% higher year-on-year, surpassing the $153.7m reported in January 2023. The total also narrowly beat the existing monthly record of $181.4m set in December.

Turning to sports betting, gross receipts here reached $47.7m. This was 40.7% higher than $33.9m in the same month last year but 21.9% less than December’s $61.1m. As for handle, the $577.4m wagered in January was 21.4% higher than in the previous year.

In terms of adjusted gross receipts (AGR), which account for promotional deductions, this hit $183.0m, up 20.7% year-on-year. Adjusted gross igaming revenue climbed 18.7% to $164.2m, with adjusted gross sports betting receipts also up 5.6% to $18.8m.

As for tax, licensed operators paid $31.3m in taxes and payments to the State of Michigan during January. This includes $30.0m in igaming taxes and fee, as well as $1.3m for sports betting,.

In addition, some $8.5m was paid in wagering taxes and municipal services fees to the City of Detroit. This comprised $7.9m in igaming payments and $614,400 in sports betting tax and fees.

Tribal operators also reported making $3.6m in payments to governing bodies in January.

Detroit casino revenue falls in January

The increase in online gambling revenue is in contrast to the decline in the Detroit land-based sector.

Last week, it was revealed Detroit’s three casinos  recorded $94.4m in monthly revenue , a year-on-year drop of 8.8%. This was also 18.8% lower than December’s monthly total.

Some $93.9m came from table games and slots, while $500,221 was generated by retail sports betting.

In terms of market share, MGM held 48% in January. MotorCity held 30%, while Hollywood Casino at Greektown took up 22%. always shares this Contents with License.

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