Michigan’s Online Casino Revenue Hits $145 Million In November

The Michigan Gaming Control Board reported a record $145.4 million in online casino gaming revenue for the month of November, setting an all-time high for the second straight month and sending all-time iGaming revenue since launch above $2.5 billion.

November’s total was 3.1% higher than the nearly $141 million reported for October. It was also a whopping 35.2% higher than the $107.6 million generated in November 2021, a total that ranked second overall at the time in its first year of availability in the state.

A total of $14.5 million in deductions were reported among the state’s 14 operators — the Hannahville Indian Community currently does not offer online casino gaming as 888 Holdings is preparing to enter the marketplace. 888 Holdings acquired the sports wagering and online casino licenses originally held by TwinSpires and stepped into the sports wagering space as SI Sportsbook in September.

The state was able to levy taxes on a record $130.9 million in adjusted revenue, resulting in state tax receipts totaling more than $27.1 million for the month. The state has received close to $260.7 million in taxes in the calendar year, while commercial operators have paid $70.2 million in city fees and municipal taxes.

State operators have combined to clear $100 million in gross revenue for 15 months running, with the last two topping $140 million. Overall state taxes since launch in January 2021 have surpassed $460 million.

Another big month for BetMGM and FanDuel

Overall commercial revenue from the three online casinos tethered to Detroit’s three brick-and-mortar venues totaled a record $85 million. That was 6.4% higher than October’s $79.9 million — also a short-lived record — and 38.2% better than the $61.5 million from November 2021.

BetMGM and FanDuel, tethered to MGM Grand Detroit and MotorCity Casino, respectively, both pushed their gross revenue totals to record highs for a second consecutive month. BetMGM had back-to-back months above $50 million, landing at $53.6 million in November, while FanDuel bounced from $23 million to $27.1 million.

Barstool Sportsbook & Casino, tethered to Greektown, failed to make it a clean sweep for November records and actually went in the opposite direction. Its gross revenue of close to $4.3 million was 7.2% lower than October and 18.3% off the February 2021 total of more than $5.2 million from its launch month, which remains an all-time high.

Tribal-based sites get into the record-setting act

Of the 11 tribal sites offering iGaming, Bay Mills, Lac Vieux Desert Band, and Sault Ste. Marie posted revenue records for November. DraftKings, which operates through Bay Mills, reached nearly $23.3 million in revenue to set a new high by more than $600,000 compared to October.

PointsBet lifted Lac Vieux’s top monthly revenue haul to $1.6 million, which was a 53.8% surge from October and also 38.2% better than its previous record of nearly $1.2 million set last December. It also marked the first time Lac Vieux had back-to-back months of at least $1 million in gross revenue.

WynnBET, tethered to Sault Ste. Marie, bettered its previous record of $5.3 million set in January with close to $5.6 million in November. It was 22.7% higher compared to October, with an increase of more than $1 million in actual dollars.

Despite those three operators’ performances, overall tribal gross revenue was down 1.1% from October to $60.4 million. It was a much different story for year-over-year comparisons, as the 2022 figure represented a 31.1% spike compared to the $46 million from November of last year.

Photo: Shutterstock

Author: Justin King