.
Please rephrase your request or provide more information so that I can assist you effectively.
In October, the Michigan internet gaming sector achieved another remarkable feat by surpassing its previous record-breaking nine-figure revenue month, just one month after its initial achievement.
The Michigan Gaming Control Board revealed that the 14 operators achieved another remarkable feat, generating a staggering $109.7 million in revenue, driven by the immense popularity of online casinos in Michigan.
Since the launch of live dealer online casinos on July 22, the total revenue in September has increased to $102.4 million, thanks to the contributions of casinos and two Michigan online poker operators. This figure has consistently grown in every full month.
BetMGM Casino MI once again leads internet gaming market
BetMGM Casino Michigan continued to dominate the state’s operators, generating a hefty revenue of $41.4 million, accounting for an impressive 37.7% market share.
| Licensee | Brand | Revenue (GGR) | Promos | State Tax | Local Tax |
|---|---|---|---|---|---|
| MGM Grand Detroit | BetMGM | $41,372,055 | $4,137,205 | $7,298,031 | $3,593,163 |
| Bay Mills | DraftKings | $19,658,185 | $1,965,819 | $3,963,090 | $990,773 |
| MotorCity | FanDuel | $17,617,301 | $1,761,730 | $3,107,692 | $1,530,063 |
| Little River | BetRivers | $7,270,958 | $727,096 | $1,465,825 | $366,456 |
| Keweenaw Bay | Golden Nugget | $5,201,308 | $520,131 | $1,048,584 | $262,146 |
| Greektown | Barstool | $4,542,870 | $454,287 | $801,362 | $394,548 |
| Sault Ste. Marie | WynnBet | $4,255,150 | $425,515 | $857,838 | $214,460 |
| Pokagon | Four Winds | $2,121,078 | $212,108 | $427,609 | $106,902 |
| Hannahville | TwinSpires | $1,797,699 | $179,770 | $343,685 | $85,921 |
| Grand Traverse | Caesars | $1,709,593 | $0 | $300,888 | $75,222 |
| Match-E-Be-Nash-She-Wish | Play Gun Lake | $1,354,274 | $135,427 | $214,517 | $53,629 |
| Nottawaseppi Huron | FireKeepers | $1,148,176 | $114,818 | $165,337 | $41,334 |
| Little Traverse Bay | Fox Bet | $984,512 | $98,451 | $198,478 | $49,619 |
| Lac Vieux Desert | PointsBet | $640,736 | $1,480 | $102,281 | $25,570 |
| Total | $109,673,896 | $10,733,837 | $20,295,218 | $7,789,807 |
Since its launch in January, the gambling giant has been at the forefront of the sector, benefiting from a well-established reputation in the state, persistent advertising efforts, and generous bonuses during the initial phase of the industry.
In addition to boosting its offerings and overall profitability, the company gains an advantage by having one of the two online poker brands in the state, BetMGM Poker MI.
Two prominent figures in the realm of daily fantasy sports have extended their rivalry into the domain of sports betting. Currently, they are engaged in a fierce competition to secure the runner-up position in Michigan’s online gaming industry.
During the month of October, DraftKings Casino outperformed FanDuel Casino by securing the second position, generating a revenue of $19.7 million with a 17.9% share. In contrast, FanDuel earned $17.6 million, accounting for 16.1% of the total revenue.
Out of the 14 MI internet gaming brands, both operators were among the 10 that experienced a revenue increase in September.
Stars Casino, PokerStars combine for 66.2% revenue drop
Stars Casino and PokerStars MI experienced substantial month-to-month declines in revenue, with total earnings amounting to a mere $984,512.
In the initial month, the Flutter brands generated less than $1 million in MI revenue, marking a significant decline of 66.2% compared to September. Interestingly, despite this downturn, the overall market witnessed growth of 7.1%.
In October, the duo’s market share of revenue increased to 0.9% from their previous share of 2.8% in September.
Big month means big tax haul for state, Detroit, tribes
Once again, the advent of the highly anticipated internet gaming month brings forth a favorable tax outcome for numerous public entities.
Operators paid a total of $20.3 million in state taxes, $5.5 million to the city of Detroit, and $2.3 million to tribal operators from the October haul. Since the launch in January, online casinos and poker have contributed a total of $159.3 million in tax money to the state, $44.0 million to Detroit, and $17.5 million to tribes.
Nevertheless, it also implies a decrease in the financial resources of numerous residents of Michigan who engage in these virtual games. Additionally, it entails potential grave consequences for these individuals, encompassing the significant repercussions associated with problem gambling.
In case you or someone you are acquainted with requires assistance, reach out to the Michigan Problem Gambling Helpline by dialing 1-800-270-7117.
Please rewrite your request.
Related Articles
Can you please rewrite your sentence?