Popular magazine brand Sports Illustrated (SI) will soon be gone from the Michigan online casino market.
With Evoke, formerly 888 Holdings, breaking its contract with the media company in March, there was no chance Sports Illustrated would continue operating in the market.
Evoke told PlayMichigan that it plans to pull Sports Illustrated out of the Michigan gambling market at the end of 2024.
Key takeaways
- Earlier this year, 888 Holdings announced parting ways with Sports Illustrated and the brand’s online casino and sports betting platforms.
- When Sports Illustrated launched its online casino in Michigan in February last year, it was the 15th operator to enter the state. It was filling in for TwinSpires, which exited Michigan in 2021.
- SI’s exit leaves a spot open for another operator to replace it.
Evoke is planning to exit Michigan in Q4 2024
An Evoke spokesperson told PlayMichigan:
“We’re currently planning our transition out of Michigan and aiming towards completion in Q4 of this year, subject to regulatory approvals. Until then, we remain very much open for business and committed to delivering fantastic betting and gaming experiences for players in the state.”
After seeing poor revenue results, Evoke realized that Sports Illustrated was not successful. Therefore, Evoke decided to end its Michigan contract with SI.
Sports Illustrated has been at the bottom of MI iGaming revenue
Looking at Michigan online casino revenue, TwinSpires/SI Casino has shown the poorest results since April 2023. The online casino operator couldn’t pass $1.8 million, which peaked in March 2024.
According to the Michigan Gaming Control Board (MGCB), SI Casino also produced its lowest output of the year in April. Here’s how it compared to other operators last month:
- FanDuel: $50.70 million
- BetMGM: $49.80 million
- DraftKings: $38.50
- BetRivers: $12.45 million
- Caesars: $11.29 million
- Barstool/Hollywood: $4.60 million
- Four Winds: $4.18 million
- Soaring Eagle: $4.02 million
- PointsBet/Fanatics: $3.25 million
- PokerStars: $3.00 million
- Golden Nugget: $2.92 million
- Play Gun Lake: $2.66 million
- WynnBet: $2.33 million
- Fire Keepers: $2.02 million
- Twin Spires/SI Casino: $1.21 million
According to the MGCB, Michigan operators generated $192.9 million in April, the second-best month ever after March. It also ranked second in iGaming revenue in the US, right after Pennsylvania.
SI’s exit decreases Michigan’s online casino market to 14 operators
Since the MGCB only allows one gambling partner retail casino license, leading to a maximum of 15 online casinos in Michigan, SI’s exit means there will be 14 operators with one spot left to fill.
There are multiple scenarios for what the market would look like and which operator would fill the empty spot.
One possible outcome is Hard Rock becoming the next operator to join the state, as it announced acquiring 888 Holdings’ US assets in March.
While parting ways with SI Casino in Michigan, 888 also cut its SI Sportsbook operations in Michigan, Colorado, and Virginia. 888Casino and 888Poker are also on the verge of closing in New Jersey.