MGCB Reports Nearly 20% Year Over Growth in March for Online Casino Revenue

Written By Dave Briggs on April 16, 2024 - Last Updated on May 21, 2024
Man with an astonished face stands in front of a Michigan logo and a large casino chip with $215M on it. March was the best month ever in online casino revenue with $215.2 million. It was the first time Michigan has surpassed $200 million.

For the third straight month, record Michigan online casino revenue has blown away the month prior. In March, the state surpassed $200 million for the first time in a month, recorded the single-best month in history and was extremely close to setting the all-time best online casino month in the nation.

Specifically, the Michigan Gaming Control Board reported today that combined Michigan online casino revenue was $215.2 million in March.

And you thought February was a strong month.

March was up 15% from February’s $188 million, the previous record, and up 25% when compared to March of 2023 ($171.8 million), which was the third-highest revenue month of last year. The most recent numbers are also up 18% from January of 2024 ($181.8 million).

Also, Michigan’s $215.2 million March was just a smidge below the all-time record revenue month set by Pennsylvania in February 2024 ($215.3 million), with PA’s March numbers expected to drop any day now.

And, Michigan surpassed a major milestone in March. Lifetime online casino revenue has now surpassed $5 billion (to exactly $5,205,379,266).

Further, Michigan continues to show steady year-over-year growth.

bar chart showing Michigan online casino revenue for March

Takeaway #1 FanDuel tops BetMGM for first time

If the total numbers weren’t jaw-dropping enough, March also will serve as a milestone for operators. That leads PlayMichigan’s takeaways from the numbers.

For the first time since online casinos launched in Michigan in January of 2021 — 39 months to be exact — BetMGM did not produce the most revenue.

In March, FanDuel MI online casino topped the state, taking in $57.6 million in revenue. BetMGM was second with $54.7 million followed by DraftKings at $40.4 million.

FanDuel has been trending up strongly in Michigan and it was only a matter of time before it surpassed the perennial leader.

Lifetime, though, BetMGM remains king in Michigan by a lot. It has revenue of $1.75 billion in Michigan, compared to $998 million for FanDuel.

That also means FanDuel will surpass $1 billion in Michigan revenue in April.

Takeaway #2: Michigan is on pace to smash $2 billion in 2024

bar graph showing Michigan online casino revenue for January, February and March

Since each of the last three months has produced record online casino revenue, it should be no surprise Michigan is on a record pace in 2024.

Online casinos in Michigan set a record in 2023 with total revenue of $1.92 billion.

So far through the first three months of 2024, the state is averaging $195 million per month. At that pace, Michigan is on course to blow past $2 billion on the year to some $2.34 billion.

Takeaway #3: What it means that Michigan has surpassed $5 billion lifetime

What does it mean that Michigan has now exceeded $5 billion in lifetime online casino revenue? More money for services in Michigan.

Specifically, lifetime combined state and local tax revenue from online casinos alone has now topped $1.3 billion. And that is coming from a state with a relatively low tax rate of 25%.

As PlayMichigan reported recently, Michigan’s total gambling tax revenue is up 18.5% in just two years.

While both retail and online operators benefit from huge revenue totals, residents all across Michigan are also reaping the benefits. First responders and schools throughout Michigan are the major beneficiaries of gambling tax revenue.

Takeaway #4: All gambling sectors are firing in Michigan proving cannibalization isn’t an issue

The news of Michigan’s record online casino month comes just one week after the three Detroit casinos posted the best revenue month in more than four years.

In March, the Detroit casinos combined for $122.3 million in revenue from slots, table games and poker. Not since December of 2019 — 51 months ago — have the casinos had revenue this high.

Elsewhere, fears of online gambling negatively-impacting the bottom line of retail casinos is leading to lawmakers being hesitant to legalize online casinos in their states. But Michigan is a great example that both can flourish, driving important revenue back to the state and decreasing illegal gambling.

March 2024 online casino revenue by operator

LicenseeOnline BrandRevenuePromosTaxes
MGM Grand DetroitBetMGM$54,678,061$4,637,114$14,636,977
Bay MillsDraftKings$40,424,983$4,042,498$10,187,096
Little River Band of OttawaBetRivers$12,792,439$1,279,244$3,223,695
Grand Traverse Band of Ottawa and ChippewaCaesars$11,280,475$1,128,048$2,842,680
Keweenaw BayGolden Nugget$7,736,540$773,654$1,914,947
GreektownHollywood Casino$5,247,717$524,772$1,300,103
Pokagon Band of PotawatomiFour Winds$4,291,368$429,137$917,521
Sagniaw ChippewaEagle$4,195,056$419,506$854,232
Sault Ste. Marie Tribe of ChippewaWynnBet$3,207,814$320,781$647,165
Match-E-Be-Nash-She-Wish Band of PottawatomiPlay Gun Lake$3,197,828$319,783$633,170
Lac Vieux Desert Band of Lake Superior ChippewaFanatics$3,108,301$310,830$601,951
Little Traverse Bay Bands of OdawaPokerStars$3,094,733$309,473$614,024
Nottawaseppi Huron Band of PotawatomiFireKeepers$2,495,625$249,567$483,645
Photo by PlayMichigan
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Dave Briggs

Dave Briggs is a managing editor and writer for Catena Media. His expertise is covering the gambling industry in Michigan with an emphasis on online casino, online sports betting and horse racing sectors. He is currently reporting on the gambling industries in Michigan, Pennsylvania and Canada.

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