After Michigan’s online gaming market set a new monthly gross revenue record of $131.67 million in March, the Gaming Control Board has announced yet a new record for April. Online casinos in the state triggered an all-time high for the state, reaching the $132.4 million mark. At the same time, the online sports betting vertical only reached $30.7 million.
15 Operators Entered the Michigan Gaming Market in April
One of the main factors that contributed to the impressive rise in gross internet gaming revenue in April is the introduction of 15 new casino operators to the market. The operators received their authorizations for both casino gambling and sports betting. They also came in with fresh offerings, a new plethora of games and promotional deals that appealed to a larger number of players.
Together, Michigan’s tribal and commercial casino operators generated $163.1 million in terms of gross internet gaming and sports wagering revenue. The total receipts were 0.6% higher compared to the numbers from March. While this particular percentage might not necessarily indicate a dramatic growth on a month-to-month basis when compared to the March results, it is an important indicator of the expected trajectory of the state’s online gaming industry. Since online casino revenue generates results on a perpetual, monthly basis, they are even more important for both the state’s treasury and operators. Plus, April’s numbers would have been higher should more National Collegiate Athletic Association Tournament and soccer events had taken place during the month.
However, with March Madness coming to an end and in anticipation of a new football season kicking off, sports betting in Michigan grew at a slower pace last month. April’s online sports betting handle was $371.2 million, down almost 18% compared to March’s figures, but up 49% on a year-to-year comparison with April 2021.
The state’s adjusted gross revenue, which also included deductions for free-play incentives that were given to bettors, reached the amount of $136 million for the two verticals in April. At the same time, the adjusted gross revenue figure connected to online gaming went up 0.6% compared to March, while the adjusted gross receipts tied to sports wagering online went up close to 14%.
As for taxes, Michigan’s operators generated $25.2 million in both payments and taxes to the state’s treasury in April. Detroit’s top three casinos, MGM Grand Detroit, Greektown Casino, and MotorCity Casino Hotel, paid $7.2 million in taxes along with municipal service fees connected to Internet gaming. At the same time, tribal operators generated payments valued at $2.7 million.