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In July, Detroit’s casinos experienced their highest revenue month since the onset of the pandemic-induced closure in March 2020. In contrast, Michigan’s online casinos maintained their consistency by delivering yet another robust month.
In July, the internet gaming sector in Michigan generated a revenue of $92.3 million, indicating a 3.5% growth from the previous month, as reported by the Michigan Gaming Control Board on Monday.
On July 22, the online gaming sector experienced a significant milestone with the introduction of Michigan live dealer casino games. This event marked a crucial moment for the industry, encompassing not only online poker but various other forms of internet gambling as well.
The three casinos in Detroit continued their dominance over their online counterparts in July, generating a remarkable $115.7 million in revenue. This trend has persisted since the launch of Michigan internet gaming on January 22, with the physical casinos consistently outperforming their digital counterparts.
Just slightly after six months since its launch, the internet gaming industry has surpassed a revenue of over one hundred million dollars in state taxes.
BetMGM still dominant in Michigan internet gaming space
BetMGM, continuing its flawless track record, dominated the group of 14 online operators by generating a remarkable $33.8 million in online casino revenue in Michigan. This impressive figure accounts for a substantial 36.7% market share, combining the earnings from both BetMGM Casino and BetMGM Poker.
In the ongoing battle for the next position, DraftKings Casino and FanDuel Casino were still competing. In July, DraftKings emerged as the winner, generating $15.2 million in revenue, securing a market share of 16.5%. On the other hand, FanDuel earned $14.4 million in revenue, accounting for a 15.6% share.
After a successful launch on July 12, FireKeepers Casino generated revenue surpassing $1.0 million. Ranking 11th out of 14 operators in terms of July earnings, the casino has already surpassed three of its competitors.
| Licensee | Brand | Revenue | Promos | Tax – State | Tax – Local |
|---|---|---|---|---|---|
| MGM Grand Detroit | BetMGM | $33,838,262 | $3,383,826 | $5,969,069 | $2,938,853 |
| Bay Mills | DraftKings | $15,200,471 | $1,520,047 | $3,064,415 | $766,104 |
| MotorCity | FanDuel | $14,373,626 | $1,437,363 | $2,535,508 | $1,248,349 |
| Little River | BetRivers | $6,778,543 | $677,854 | $1,366,554 | $341,639 |
| Keweenaw Bay | Golden Nugget | $5,280,782 | $528,078 | $1,064,606 | $266,151 |
| Sault Ste. Marie | WynnBet | $5,005,861 | $500,586 | $1,009,182 | $252,295 |
| Little Traverse Bay | Fox Bet | $3,081,759 | $308,176 | $621,283 | $155,321 |
| Greektown | Barstool | $2,653,560 | $265,356 | $468,088 | $230,462 |
| Pokagon | Four Winds | $2,133,569 | $213,357 | $351,554 | $87,888 |
| Hannahville | TwinSpires | $1,252,341 | $125,234 | $205,467 | $51,367 |
| Nottawaseppi Huron | FireKeepers | $1,009,086 | $100,909 | $145,308 | $36,327 |
| Match-E-Be-Nash-She-Wish | Play Gun Lake | $833,431 | $83,343 | $120,014 | $30,004 |
| Lac Vieux Desert | PointsBet | $573,520 | $60,070 | $82,152 | $20,538 |
| Grand Traverse | William Hill | $296,557 | $0 | $47,449 | $11,862 |
| Total | $92,311,368 | $9,204,199 | $17,050,649 | $6,437,160 |
BetRivers Casino ranked fourth in terms of internet gaming revenue, generating $6.8 million. Additionally, Golden Nugget Casino ($5.3 million) and WynnBET Casino ($5.0 million) also achieved monthly revenue figures that placed them in the esteemed $5-million club.
This month, DraftKings completed the acquisition of Golden Nugget, a move that could potentially influence the market in the future. We analyzed the details of this transaction in our breakdown.
Total taxes from Michigan online gaming top $100 million
Brandt Iden, a former Michigan state representative, initially projected that the mature online gambling market in Michigan could generate a substantial $100 million in annual state tax revenue.
It took slightly over six months for online casinos and poker to accumulate such a significant amount.
In July, the internet gaming activities contributed $17.1 million to the state tax coffers, accumulating a lifetime total of $102.3 million.
Additionally, the sector contributed $4.4 million in tax revenue to the city of Detroit and $2.0 million to tribal operators.
In July, following a decline in adjusted revenue in June, the overall internet gaming figures rebounded robustly, reaching $83.1 million. The dip experienced in June, which amounted to $66.2 million, can partly be attributed to BetMGM’s write-off of $17.5 million in promotional credits.
For the first three years of online casinos, operators have the freedom to deduct up to 10% of free play. However, it is worth mentioning that the brand has not reported any instances of online free play since its launch.
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