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Michigan online casinos are maintaining impressive performance as we approach the beginning of autumn.
Given the consistent growth in overall online revenue, it is prudent to delve deeper into the actual meaning behind the numbers.
Out of the 15 online operators, a few are experiencing a pleasant surge during the summer season, whereas the rest are anticipating a recovery in the upcoming fall months.
Take a glimpse at the operators experiencing growth while others are facing decline.
Michigan online casino stock up: DraftKings Casino MI
DraftKings Casino MI has made a remarkable recovery since our report on the May revenue figures.
Since its launch in early 2021, DK experienced its second-lowest online casino revenue share in May, reaching just 14.0%.
DraftKings has experienced a gradual increase over the past few months, reaching a 15.0% share in July 2022, which amounts to $19 million.
In July, DraftKings achieved a remarkable performance, surpassing FanDuel Online Casino MI with a 14.7% growth. This marked the second-best performance among all 15 operators. Notably, it was also the first time in five months that DraftKings secured the second position.
Even after all this time, DraftKings remains in third place in Michigan’s revenue share with 16.5% ($312.7 million). FanDuel, on the other hand, holds 17.0% ($322.5 million), indicating that DraftKings needs to put in more effort to close the gap.
Stock down: FanDuel Online Casino MI
As DraftKings continues to rise, FanDuel Casino MI has unfortunately experienced a decline, which is not unexpected.
FD has experienced a decline in its online casino market share in Michigan for the fourth month in a row, as indicated by the revenue numbers for July.
Since reaching its highest point in March 2022 at 17.1%, FanDuel has experienced a decline every month thereafter, marking the highest peak since May 2021.
- In April 2022, the amount of $21.0 million accounted for 15.9%.
- In May 2022, there was a total of $20.1 million, which accounted for 15.8% of the overall amount.
- In June 2022, the sum of $18.5 million accounted for 15.3% of the total.
- In July 2022, there was a 14.7% increase, equivalent to $18.6 million.
FanDuel’s July percentage in 2021 was almost a full percentage point higher than the July percentage.
Stock down: WynnBET Online Casino MI
WynnBET Online Casino Michigan has consistently maintained its position among the 15 operators in the iGaming industry, establishing itself as a reliable presence.
After making its debut in June 2021, WynnBET experienced a significant rise, reaching a peak of 5.4% of Michigan’s online casino revenue share in July of the same year. However, its success has gradually declined since then.
WynnBET experienced a significant decline in its revenue share, reaching an all-time low of 3.1% ($3.9 million) in July 2022. Despite securing the eighth position among the 15 operators, this downward trend is concerning.
In 2022, WynnBET achieved a share of only 4% once, which occurred in January when it reached a 4.4% share amounting to $5.3 million. This performance ranked sixth among competitors for the month.
Michigan online casinos stock up: Eagle Casino & Sports
Eagle Casino & Sports, an online product by Soaring Eagle, has seamlessly established itself as the 15th online casino operator option in Michigan.
After only capturing 0.3% of the online revenue share in April, the business has maintained a consistent 1.7% share in both June and July of 2022.
Soaring Eagle achieved a record-breaking milestone in July, generating a remarkable revenue of $2.14 million.
In the last two months, Eagle Casino has outperformed four other online operators in the state.
Stars Casino MI, which had a mere 1.9% in June and 1.8% in July, is now within its reach.
