September was a great month for online casinos and online sports betting in Michigan.
Both industries put up big numbers in regard to casino revenue and sports betting handle.
However, there were some interesting anomalies in the mix.
A pair of online operators had some hot-handed customers that made September a little less profitable for them.
FireKeepers online casino revenue drops 60 percent
FireKeepers Casino Hotel is one of the few retail casinos to also operate its own online casino and sportsbook.
The results have been a steady stream of revenue for FireKeepers.
Since July of 2021, FireKeepers has brought in more $1 million in monthly revenue. That peaked in August of this year at $1.76 million.
However, the September revenue report brought an eye-catching number for FireKeepers.
Their online casino revenue last month was just $700,592, as their players hit a hot streak.
“FireKeepers is Michigan’s luckiest online casino in September. Our guests were strong winners, whether it was in slots or tables and winning is the best advertising,” Jim Wise, Vice President of Marketing & Sports/Online Gaming at FireKeepers Casino, said. “It impacted our net results but we are pleased with the positive word of mouth and marketing opportunities it is presenting.”
September’s revenue number was the lowest total FireKeepers has had since the month it launched in June of 2021.
WynnBet Sportsbook posts negative hold in September
Another operator that had some hot consumers in September was WynnBet Sportsbook MI.
Overall, September was a great month for the online sportsbooks in terms of success against the bettors.
With a lot of futures bets placed in the NBA, NHL and NFL, the collective online hold for the 15 operators was 13.1%. That’s well above the all-time hold of 8.3%.
Despite the big month for operators, WynnBet actually lost money to its bettors.
The operator, which is partnered with Kewadin Casinos, brought in $4.53 million in online sports betting wagers. It reported a collective revenue loss of $7,926 for a -0.2 percent handle.
This marks the third time in its operation that it has lost month to the bettors in a given month. WynnBet lost $383,777 in June of 2021 and $55,863 in September of 2021.
It’s an interesting result for WynnBet, which brought in its third-highest online handle for a month in September.
No cause for concern
Both FireKeepers and WynnBet shouldn’t be too rattled by September’s results.
FireKeepers is taking the right approach by embracing the bad luck on their end in hopes of drawing in new customers.
While not a major player in the iGaming race (11th all-time in revenue in Michigan), FireKeepers has established a consistent level of play and a reliable customer base.
Only three tribal casinos run their own online operation: FireKeepers, Four Winds Casino and Soaring Eagle Casino.
Of the three, FireKeepers has drawn in the most online casino revenue at $20.9 million. Four Winds is at $11.1 million, while Soaring Eagle is at $6.3 million. It should be noted that Soaring Eagle has only had an online casino since April of this year.
WynnBet has remained in the midst of Michigan’s online sportsbooks. It has generated $50.9 million in online handle all-time, which ranks ninth in the state.
Despite the losses, September’s $4.53 million in online handle ranks eighth in the state.
