WynnBet Casino continues to hold a small chunk of the Michigan online casino market share.
With the online operator still “under review” here in the state as to whether it will close or not, each month’s report carries more weight.
Following a year-low in July, WynnBet has bounced back and remains a factor amongst all Michigan online casinos.
WynnBet Casino MI returns to 3% of market share
The month of July saw WynnBet Casino Michigan fall below $4 million in revenue for the first time in nearly a year.
Its $3.9 million in monthly iGaming revenue was its lowest total since September of 2022 when it hit just $3.2 million.
That had to be concerning, considering that WynnBet is getting the vast majority of its online gambling revenue from its online casino.
In August, WynnBet Michigan bounced back with $4.7 million in monthly revenue, taking in 3.1% of the market share for the month.
The 3.1% market share is right in line with where it has been for all of 2023.
| Month | Revenue | Market Share |
|---|---|---|
| January | $4,589,125 | 3.0% |
| February | $5,413,521 | 3.7% |
| March | $4,736,576 | 2.8% |
| April | $5,711,354 | 3.6% |
| May | $4,982,746 | 3.3% |
| June | $4,808,955 | 3.2% |
| July | $3,870,269 | 2.5% |
| August | $4,655,881 | 3.1% |
| September | $4,111,095 | 2.5% |
| October | $3,213,006 | 2.0% |
| Total | $46,092,527 | 2.9% |
WynnBet casino revenue up 9% in 2023
With August’s performance, WynnBet Casino Michigan sits at $38.8 million in revenue through eight months of 2023.
That is a 9% increase from where it was through eight months of 2022, $35.6 million.
On paper, WynnBet actually held a greater market share in 2022 (3.4%) than it does through 2023. However, the increased revenue despite the dip in share shows just how Michigan online casinos continue to expand on their business.
Over the lifetime revenue for Michigan online casinos, WynnBet holds 3.6% of the market share. That equates to $140.3 million in revenue.
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Can 3% keep WynnBet in Michigan?
In August, WynnBet announced it was closing online operations in eight states.
At that same time, it said it was putting its operations in Michigan “under review.”
The door was left open in Michigan, likely due to the online casino revenue. It was generating enough to feel like a good business decision to consider staying in the state.
While the WynnBet Casino MI market share percentage has dipped steadily over time, the value of the percentage point is greater now than it was before.
In 2023, through eight months, 1% of the market share is worth $12.4 million. Just in August, 1% of the market share was worth $1.5 million.
WynnBet made its decision to leave Michigan in review while it held just over 3% of the OC market share. As it continues to sit above 3%, and the percent grows in value, it should leave WynnBet optimistic about staying open in the state.
