Michigan’s sports betting and online gaming operators reported a combined revenue of $257.1m in March (PS206.0m/EUR241.4m), the highest amount in 2024.
Michigan’s March revenues were 17.7% higher than February’s $218.5m and 12.0% more than January’s $229.6m. The state’s revenue for March was 18.8% more than it was in the same period last year.
Michigan will launch igaming by January 2021, and the month of March 2018 was their best ever. Igaming revenues reached $215.5m dollars in March, surpassing the previous record of $188.0m reported for February.
In March, sports betting generated $41.9m in revenue, up 37.4% from the reported $30.5m in February. The total amount of online sports bets was also 19.3% more than in February, at $480.4m.
The adjusted gross receipts for both online betting and igaming in March totaled $221.1m. Igaming was responsible for 194.5m dollars of this total, an increase of 14.9% over February. Online sports betting operators accounted for 26.7m dollars, more than double what they reported in the previous month.
Sports betting AGR in March was 15.2% lower than the same period last year.
Michigan is on course to exceed 2023 numbers
Michigan’s revenue from online gambling reached a record of $2.3bn by 2023, but if the current trend continues, it is expected to exceed that figure by about $500m.
Michigan’s internet operators are on pace to reach $2.8bn in 2024.
Michigan’s online gambling success is reflected in the tax revenue generated by operators, who reported $41.1m in payments and taxes to Michigan in March.
Detroit Casinos Successfully Marched
Detroit’s commercial casinos announced earlier this month that they had made $123.9m from March. The revenue was 3.9% higher than the same period last year.
The revenue for March was 18.5% higher than February’s, and 122.3m dollars of that total came from slot machines and table games.
The retail sports betting QAGR for March was only $1.6m. This is still 13.2% higher than the same period last year.
MGM Grand Detroit leads the other three commercial casinos with 46.0% of the market in March. MotorCity Detroit came in second place with a market share of 31.0%, followed by Hollywood Casino at Greektown which accounted for 23.0%.
