Michigan’s on-line playing market continues to thrive, with the state’s iGaming sector main a big income improve in August. The Michigan Gaming Management Board (MGCB) revealed that the overall gross receipts from each on-line playing and sports activities betting hit $224.0 million for the month. This determine represents a 27.7% improve in comparison with August 2023, and a 1.4% rise from July this yr, demonstrating sustained progress within the sector.
The iGaming sector as soon as once more proved to be the first driver of Michigan’s on-line playing income in August in accordance with the information printed by the MGCB. Gross receipts from iGaming alone amounted to $196.7 million, up 29.2% year-on-year, marking the sector’s third-best month within the state’s historical past. The Michigan Gaming Management Board information indicated that adjusted gross receipts (AGR) from iGaming, which contemplate promotional spending, totaled $176.9 million. This determine represents a 30.9% improve in comparison with August 2023.
Compared, gross sports activities betting receipts for the month had been reported at $27.4 million, reflecting an 18.1% year-on-year improve. When adjusted for promotional spending, sports activities betting AGR got here to $16.3 million, simply 2.5% larger than final August. The rise in each sectors highlights Michigan’s strong place inside the nationwide on-line playing panorama.
August’s figures verify Michigan’s standing as one of many main on-line playing markets within the U.S. The state grew to become the third, after Pennsylvania and New Jersey, to surpass $6 billion in lifetime iGaming income. Notably, year-to-date iGaming income is trending 24.8% larger than 2023, illustrating the continued momentum on this sector.
Sports activities Betting and Market Leaders
Michigan’s sports activities betting market additionally noticed vital exercise in August. The entire deal with for on-line sports activities betting amounted to $280.1 million, a considerable 28.2% improve from August final yr. Nonetheless, regardless of this uptick in betting quantity, the maintain proportion for sports activities betting decreased barely when adjusted for promotions, coming in at 5.82%.
FanDuel continues to dominate Michigan‘s sports activities betting panorama, dealing with $101.0 million in wagers in August. The operator reported gross receipts of $11.1 million and an AGR of $7.6 million, placing it nicely forward of its rivals. DraftKings ranked second with a month-to-month deal with of $78.1 million, gross receipts of $7.6 million, and $4.4 million in AGR. BetMGM adopted in third, with $4.6 million in gross receipts and $2.9 million in AGR from a deal with of $41.2 million.
On the iGaming entrance, BetMGM maintained its management place by means of its partnership with MGM Grand Detroit. The operator reported $52.5 million in gross receipts and $47.2 million in AGR. FanDuel, partnered with MotorCity On line casino, got here in second with $48.4 million in gross receipts and $43.5 million in AGR. DraftKings rounded out the highest three, reporting $36.6 million in gross receipts and $32.9 million in AGR.
Important Tax Contributions and Land-Primarily based On line casino Income
The income generated by Michigan’s on-line playing market contributed considerably to state and native taxes in August. Complete taxes paid to the state amounted to $37.8 million, with $36.9 million coming from iGaming and $874,501 from on-line sports activities betting. Detroit’s three casinos additionally paid $9.4 million in taxes to the town, with $9.1 million attributed to iGaming and $287,107 to sports activities betting. Tribal operators contributed a further $4.6 million to their respective governing our bodies through the month.
Land-based on line casino operations in Detroit additionally noticed optimistic leads to August. Complete income for desk video games, slots, and retail sports activities betting reached $112.5 million, up 7.3% from final yr and 5.8% larger than July. MGM Grand Detroit retained its main market share on this house, with 48% of the market, adopted by MotorCity On line casino at 28%, and Hollywood On line casino at Greektown with 24%. MGM reported $53.9 million in income from desk video games and slots, up 8.9% from final yr, whereas MotorCity led the retail sports activities betting section with $930,952 in adjusted gross receipts.
