Monday saw the release of the revenue figures for November, which proved to be a successful month for numerous online operators.
Online casinos experienced yet another month of record-breaking success, while online sportsbooks came close to reaching a staggering $480 million in handle.
However, it is important to note that not all operators have the same level of positive news. In November, there were both positive and negative developments for online casino and sportsbook operators.
Looking at November’s numbers
Michigan has achieved yet another milestone as it sets a new record for online casino revenue for the second consecutive month.
In November, Michigan’s 14 operators generated $145.4 million in revenue, marking a 3.2% increase from the previous record of just under $141 million in October.
Michigan’s 15 online sports betting operators gathered slightly less than $480 million in handle for the month. This figure was slightly lower than the $480.8 million collected in October.
In 2022, November’s online handle ranked third-highest, falling behind the $496.8 million recorded in October and January.
Online Casinos: Who’s up, who’s down
While many people are sharing in the success, not everyone is experiencing the same level of achievement, despite the record-breaking month.
Up: WynnBet Casino
WynnBet Casino in Michigan is experiencing a fantastic end to 2022.
The online revenue in September was a mere $3.2 million, but it has experienced significant increases in the past two months.
In October, WynnBet experienced a significant increase in revenue, reaching $4.5 million, which represented a growth of 42.9%. This positive trend continued into November, with revenue reaching $5.6 million, indicating a 22.7% increase from October. Additionally, this November revenue surge represents a substantial 75.2% rise compared to September.
In terms of online revenue, WynnBet experienced a historic peak in November.
Up: PointsBet Casino
PointsBet Casino MI initially had a sluggish start in Michigan, but it is now gradually gaining momentum and finding its rhythm as an online operator.
PointsBet has achieved a significant milestone by surpassing $1 million in revenue for two consecutive months, marking an unprecedented accomplishment in its history. Notably, November stood out with an extraordinary record-breaking figure of $1.62 million.
November’s revenue for PointsBet saw a significant surge, marking a remarkable 53.8% increase from the previous month’s earnings of $1.05 million. It is worth noting that in October, PointsBet had achieved its second-highest revenue total up until that point.
Down: Caesars Casino
Although not everyone experienced an increase in online casino revenue in November, the majority came quite close.
Caesars Casino MI, on the other hand, was not.
In 2022, Caesars’ revenue hit a record low of $4.2 million, marking a significant 20.6% decline from the previous month’s earnings of $5.3 million.
Caesars has experienced a decline in online casino revenue for five months in a row.
Online Sportsbooks: Who’s up, who’s down
Although sports betting in Michigan may be experiencing a slowdown, certain online sportsbooks are generating significant attention.
Up: Eagle Casino & Sports
In November, the online sportsbook platform of Soaring Eagle Casino & Resort achieved a significant milestone. Eagle Casino & Sports surpassed the $2 million mark in online handle, marking a new record.
The total online handle for November amounted to $2.4 million, marking a significant increase of 35.6% compared to the previous high of $1.8 million in October.
For the fourth consecutive month, Eagle Casino & Sports has observed a continuous increase in online handle growth.
Up: betParx Sportsbook
Gun Lake Casino’s online sportsbook is maintaining strong momentum throughout 2022, with both a powerful start and a robust finish.
betParx saw a significant increase in online handle in November, reaching $2.4 million. This marked a substantial growth of 48.2% compared to October’s $1.6 million. Additionally, it came close to the record-high of $2.5 million set in January.
betParx has experienced a steady rise in online handle every month since reaching a low point of $741K in May of this year. Over this period, the online handle for betParx has grown by an impressive 226.9%.
Down: Caesars Sportsbook
I don’t mean to single out Caesars, but their online sportsbook is also experiencing issues in November.
Caesars Sportsbook MI’s online handle for last month amounted to only $33.2 million, indicating a decline of 17.3% compared to October’s $40.1 million.
Caesars should be more concerned about the fact that it only ranked as the eighth-highest revenue month for them, especially considering that other sportsbooks are achieving record numbers.
