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Michigan’s January iGaming Revenue Reaching $229.6M Sets Record

Written By Katarina Vojvodic on February 22, 2024
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Michigan commercial and tribal operators reported a combined total of $229.6 million in internet gaming (iGaming) gross receipts and gross sports betting receipts in January.

According to the Michigan Gaming Control Board’s latest report, gross receipts decreased 5.4% compared to December’s $242.5 million.

Of the $229.6 million:

  • January iGaming gross receipts totaled $181.89 million (a minor month-over-month increase of 0.3%)
  • Gross sports betting receipts for January totaled $47.70 million (a 21.9% drop from December 2023’s $61.1 million)

There are currently 15 commercial and tribal operators in Michigan authorized to provide iGaming and internet sports betting. More precisely:

  • 14 retail and tribal operators offer internet sports betting
  • 15 operators offer iGaming

Michigan January iGaming and sports betting revenue highlights

January marks the third month in a row for MI operators to set a new monthly revenue record.

Although showing only a 0.3% monthly increase, Michigan’s January iGaming gross receipts reaching $181.89 million represent the highest figure to date. January’s iGaming revenue surpassed Michigan’s iGaming revenue record of $181.40 million set in December 2023 by nearly $500,000.

As a result, MI online gaming generated $164.15 million in gross receipts in January. BetMGM was the most successful operator, followed by FanDuel and DraftKings:

  1. BetMGM (MGM Grand Detroit): $48.33 million in handle, $43.50 million in AGR
  2. FanDuel (Motor City Casino): $42.92 million in total bets with $38.63 million in revenue
  3. DraftKings (Bay Mills Resort & Casino): $36.28 million in handle and $32.65 million in AGR

These three operators dominate Wolverine State’s iGaming market and are responsible for generating nearly 70% share of January’s total handle and revenue.

BetMGM was the only operator to report a monthly increase in both handle and revenue last month.

iGaming and internet sports betting AGR increases monthly

According to the Michigan Gaming Control Board’s January 2024 report, combined iGaming and internet sports betting adjusted gross receipts (AGR) for January were $183 million:

  • $164.2 million came from iGaming (online casinos) (a 0.5% monthly and 18.7% yearly rise)
  • $18.8 million came from internet sports betting (a 46.5% monthly and 5.4% annual increase)

Michigan sports betting handle goes above $577 million

The internet sports betting handle in January was $577.40 million, a 1% decline from the $583 million handle recorded in December.

These were the top-performing operators in January due to their betting handle and revenue figures:

  1. FanDuel: $213.97 million in handle with $13.70 million in AGR
  2. DraftKings: $166.77 million handle and $2.90 million in revenue
  3. BetMGM: $73.20 million in handle and $2.60 million in AGR

Michigan received $31.3 million in taxes from iGaming and sports betting

MI online casinos and sports betting operators reported paying $31.3 million in taxes in January and payments to the state, distributed as follows:

  • $30.0 million in iGaming taxes and fees
  • $1.3 million in internet sports betting taxes and fees

The three Detroit casinos reported paying the city of Detroit $8.5m in wagering taxes and municipal services fees, spread as follows:

  • iGaming taxes and fees: $7.9 million
  • Internet sports betting taxes and fees: $614,400

Meanwhile, tribal operators reported bringing $3.6 million in payments to governing bodies.

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Katarina Vojvodic

Katarina Vojvodic is a lead writer for PlayUSA who lives in Toronto. Vojvodic provides coverage of the US gambling industry with a focus on US online casinos. Previously, she covered Ontario’s online gambling industry for PlayCanada.com. Vojvodic holds a master’s degree in journalism from the University of Belgrade. Outside working hours, she can be found near the water with her husband and their two kids.

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