April Online Casino Revenue Second Best Month Ever Despite 10% MoM Dip

Written By Corey Sharp on May 21, 2024 - Last Updated on May 29, 2024
Silver medal. Michigan produced the second-highest iGaming revenue ever in April with $192.9 million despite a 10% decrease from March's all-time record.

Michigan online casino revenue slipped slightly in April after all-time record revenue for March. Still, the Michigan Gaming Control Board reported that operators produced $192.9 million in April, which is the second best month ever.

After hitting $215.2 million in March, the Great Lakes State could not generate more than $200 million for a second straight month. But, it is the sixth straight month online casinos have hit at least $175 million.

Before March, Michigan online casino revenue had never surpassed $190 million. Now it has done so two months in a row. The state is now beginning to set a new bar.

April revenue decreased 10.4% from March. However, Michigan platforms experienced a 21% year-over-year increase when compared to April 2023 ($159.4 million).

bar graph showing Michigan online casino revenue - April 2021-2024

Michigan has cemented itself as the No. 2 iGaming state in the US, finishing between Pennsylvania and New Jersey once again in April:

  • Pennsylvania: $212.2 million
  • Michigan: $192.9 million
  • New Jersey: $187.9 million

bar graph showing Michigan online casino revenue comparison - first four months of the year

Takeaway #1: FanDuel hangs onto top spot

April was going to be a telling month in terms of FanDuel Casino Michigan‘s reign over the online casino market. The operator continued its dominance, and narrowly held onto the No. 1 spot in the standings over BetMGM Casino Michigan. FanDuel produced $50.7 million to BetMGM’s $49.8 million.

With FanDuel leading the market for the second straight month, it’s clear that the operator is not a one-hit wonder. FanDuel once again topped the state in promo spend, which was a huge reason it overtook BetMGM in March.

While FanDuel enjoys the online casino crown for a second straight month, BetMGM is not going away. May revenue should set up for another showdown between the Michigan online casinos.

bar graph showing Michigan - BetMGM, FanDuel and DraftKings online casino revenue comparison November 2023 through April 2024

 

Takeaway #2: FanDuel enters $1 billion lifetime revenue club

FanDuel becomes the second operator in the Great Lakes State to cross the $1 billion threshold. With April’s performance, FanDuel has produced $1.05 billion in earnings since launching in Jan. 2021.

BetMGM leads the way with $1.80 billion in revenue. Should the two remain side-by-side for months to come, it’ll be a tall task to pass BetMGM.

DraftKings Casino Michigan is closing in on a $1 billion in lifetime revenue. The operator is expected to reach that milestone in June.

Takeaway #3: Fanatics increases revenue again in April

The second full month of operation saw Fanatics increase revenue from its first full month, in March. The new operator generated the following online casino earnings:

  • March: $3.1 million
  • April: $3.3 million

Fanatics is within $1.5 million of platforms such as Eagle, Four Winds and ESPN BET. Fanatics is competing in the third tier of operators. Passing the aforementioned brands would put Fanatics in the second tier, behind Caesars and BetRivers.

Takeaway #4: SI Casino falls further after announcing departure

Sports Illustrated has finished in dead last in every month this year. It also produced its lowest output of the year in April, $1.2 million.

An Evoke spokesperson told PlayMichigan on Monday that Sports Illustrated is transitioning out of Michigan by Q4. The numbers show that the operator has not even carved out 1% of the market share in 2024.

Sports Illustrated will be the second media company to leave the Michigan market, following Barstool’s departure last year.

April 2024 online casino revenue by operator

LicenseeOnline BrandRevenuePromosTaxes
MotorCityFanDuel$50,701,753$5,070,175$13,347,236
MGM Grand DetroitBetMGM$49,795,508$4,979,551$13,108,668
Bay MillsDraftKings$38,503,700$3,326,512$9,849,613
Little River Band of OttawaBetRivers$12,451,778$1,245,178$3,137,848
Grand Traverse Band of Ottawa and ChippewaCaesars$11,287,043$1,128,704$2,844,335
GreektownESPN Bet$4,604,253$460,425$1,212,070
Pokagon Band of PotawatomiFour Winds$4,178,650$417,865$1,026,935
Sagniaw ChippewaEagle$4,025,471$402,547$941,641
Lac Vieux Desert Band of Lake Superior ChippewaPointsBet$3,251,687$325,169$664,821
Little Traverse Bay Bands of OdawaFox Bet$2,994,453$299,445$661,968
Keweenaw BayGolden Nugget$2,918,423$291,842$735,443
Match-E-Be-Nash-She-Wish Band of PottawatomibetParx$2,658,513$265,851$560,416
Sault Ste. Marie Tribe of ChippewaWynnBet$2,328,881$232,888$516,976
Nottawaseppi Huron Band of PotawatomiFireKeepers$2,020,316$202,032$400,023
HannahvilleSI$1,214,062$121,406$240,384
Total$192,934,494$18,769,592$49,248,376
Photo by Shutterstock
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Corey Sharp

Corey Sharp joined Catena Media in 2022 and is the go-to expert for Michigan gambling. Born and raised in Philadelphia, PA, he previously worked for the Philadelphia Inquirer and NBC Sports Philadelphia as a sports journalist and content producer. In Corey’s role as Lead Writer for PlayMichigan, he works alongside a talented team of expert journalists and analysts to bring you the most comprehensive and accurate coverage of gambling news in Michigan. Corey’s contacts around the industry makes him a trusted source. Corey produces daily stories and features about the gambling space. Corey graduated from Holy Family University in Philadelphia with a bachelor’s degree in sports management.

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