Being in the top five of Michigan online casinos is a fruitful place to be.
Over the lifetime of online gaming in the state, the top five online casinos account for 80.9% of the revenue in the state.
Golden Nugget Casino Michigan is doing its part to hang on to the fifth spot, but is getting some competition this year from Caesars.
Golden Nugget on pace for $80 million in Michigan in 2023
Over its lifetime, Golden Nugget Casino Michigan has been able to firmly plant itself in the fifth spot for iGaming revenue.
Golden Nugget has $191.7 million in revenue in the state. That puts it about $80 million behind BetRivers for fourth and $44 million ahead of Caesars and WynnBet for fifth.
This year, Golden Nugget is well on its way to its best year of Michigan online casino revenue in its three years in Michigan.
Through 10 months, Golden Nugget sits at $68.5 million in revenue. For all of 2021, it generated $50.6 million in revenue. Last year, Golden Nugget Casino totaled $72.6 million in Michigan revenue.
Right now, Golden Nugget is 13.9% ahead of where it was through 10 months of 2022 ($60.1 million). By the end of December, Golden Nugget should be sitting around $80 million in yearly online casino revenue.
Caesars Palace climbing up quickly in Michigan
Though its going to take a lot of time for someone to catch Golden Nugget for the fifth spot in lifetime online casino revenue, Caesars is trying to make sure it stays within reach.
That has led Caesars to $68.7 million in online casino revenue this year. That ranks fifth in Michigan for 2023, slightly ahead of Golden Nugget.
While Caesars has a long road to get to Golden Nugget, it has pulled even with WynnBet Casino Michigan in the lifetime revenue race at $147 million. WynnBet has just $46.1 million of revenue on the year.
Even if Caesars doesn’t bring in another cent in iGaming revenue this year, it already has set a new record for yearly revenue. Last year, Caesars had $66.2 million. Through 10 months, Caesars Palace/Caesars is 25.6% ahead of its mark through the first 10 months of 2022 ($54.7 million).
Caesars is also shooting for that $80 million revenue mark for this year.
Michigan’s top six operators creating space up top
Though 2023 is going to be a record year of online casino revenue for Michigan, we are seeing a greater separation between operators.
In October, just six of the 15 online casino operators were over $5 million in monthly revenue. The bottom nine were all below $3.4 million.
These six operators are continuing to create more and more revenue spacing from their peers below.
It should be no surprise that these operators are amongst the highest in overall game count and jackpot offerings.
The top six online casinos for 2023 are
- BetMGM Michigan
- FanDuel Casino Michigan
- DraftKings Casino Michigan
- BetRivers Casino Michigan
- Caesars Palace Casino Michigan
- Golden Nugget Casino Michigan
Those six hold six of the top eight spots when it comes to overall slot offerings and jackpot offerings.
As Michigan continues to build on its online casino revenue, it’s the top six that are going to continue to see the most financial benefit.