As we near the start of fall, Michigan online casinos continue to put up strong numbers.
With steady performances in collective online revenue, its always good to look closer at what the numbers really say.
Of the 15 online operators, some are seeing a nice summer boost, while others are hoping to bounce back in the fall months.
Here’s a look at the operators that are on the rise, and those that are sliding back.
Michigan online casino stock up: DraftKings Casino MI
Since our report following the May revenue numbers, DraftKings Casino MI has bounced back nicely.
In May, DK had hit an online casino revenue share of just 14.0%. That was its second-lowest mark since launch in early 2021.
In the following months, DraftKings has climbed up a percentage point to get to 15.0% of the share for July 2022 ($19 million).
More importantly, DraftKings outperformed FanDuel Online Casino MI in July (14.7%) for second-best showing of the 15 operators. It was the first time in five months that DraftKings landed in the second spot.
All-time, DraftKings still finds itself with 16.5% of the revenue share in Michigan ($312.7 million), which sits third. FanDuel is at 17.0% ($322.5 million), so DK has some work to do to continue to bridge the gap.
Stock down: FanDuel Online Casino MI
Not surprisingly, with DraftKings on the way up, FanDuel Casino MI has found itself trending the opposite way.
July’s revenue numbers marked the fourth consecutive month that FD has seen a drop in its online casino market share in Michigan.
In March of 2022, it peaked at 17.1%, which was the highest it had been since May of 2021. Since then, FanDuel has dropped each month.
- April 2022: 15.9% ($21.0 million)
- May 2022: 15.8% ($20.1 million)
- June 2022: 15.3% ($18.5 million)
- July 2022: 14.7% ($18.6 million)
The July percentage was nearly a whole percentage point less than FanDuel was in July 2021.
Stock down: WynnBET Online Casino MI
WynnBET Online Casino Michigan has been a steady presence in the iGaming world, finding itself right in the middle of the 15 operators each month.
Since debuting in June of 2021, WynnBET had climbed up to a peak of 5.4% of Michigan’s online casino revenue share in July of that year. However, things have been slowly fading since.
In July of 2022, WynnBET hit a new low for its revenue share at just 3.1% ($3.9 million). While still landing it eighth among the 15 operators, its trending in the wrong direction.
WynnBET has only cracked the 4% mark once in 2022, that was January when it landed with 4.4% of the share ($5.3 million). That was sixth-best for the month.
Michigan online casinos stock up: Eagle Casino & Sports
Soaring Eagle’s online product, Eagle Casino & Sports has settled in nicely as Michigan’s 15th online casino operator option.
Since opening in April to just 0.3% of the online revenue share that month, it has held steady at 1.7% of the share in June and July of 2022.
July marked a total of $2.14 million in revenue for Soaring Eagle, which was a new high for the newcomer.
The performances the last two months has seen Eagle Casino finish ahead of four other online operators in the state.
It can now set its sights to catch Stars Casino MI, which was at just 1.9% in June and 1.8% in July.