Michigan online casinos crossed the $1 billion revenue mark for 2023 in seven months following another top-5 all-time revenue month in July.
Data released Tuesday by the Michigan Gaming Control Board showed the state’s 15 online casinos recorded $153.6 million in revenue, the fourth-highest monthly total in Michigan’s history.
July was a 1.7% jump from June’s $151 million and a 21.3% jump from last July’s $126.6 million.
“Normally, a Michigan summer means a slowdown in online gambling, but that’s not what we saw in July, as online casinos in Michigan had their fourth best month of all-time,” said Paul Costanzo, lead analyst for PlayMichigan. “The industry crossed the $1 billion mark in revenue for 2023, putting it 2/3s of the way toward 2022’s total already. Again, we see a major jump from a year ago, as it’s more than 20% of the total in July 2022.”
July 2023 Michigan online casino revenue
Online casinos in Michigan continue to make big gains from a year ago with July surpassing last year’s mark by $27 million.
- Online casino revenue: $153.6 million, up 1.7% from June
- July online casino tax payments: $28.7 million to state and $10.7 million to local entities
- Top online casino app by revenue: BetMGM Michigan with $49 million
Three takeaways from July Michigan online casino report
Michigan crosses $1 billion for the year
With July’s strong total, Michigan now sits at $1.09 billion in revenue for the year, seven months in.
That’s 23.2% greater than where Michigan’s online casinos sat through seven months of 2022 ($883.6 million).
Currently, the 2023 year is heavily outpacing 2022 and likely will for August and September. It’s hard to imagine it being able to do the same over the last quarter of 2023.
Online casinos in the state saw the start of this boost that we’ve seen over the last year in October of 2022. That was the first time the state passed $140 million in revenue. The last three months of 2022 averaged $146.4 million.
Through 2023, the state is averaging $155.5 million in revenue per month. If that stayed the same over the final five months, Michigan would hit $1.87 billion in revenue for 2023.
If the state continues to outpace last year’s revenue by 23.2%, that would have Michigan at $1.95 billion in revenue for 2023.
Tax revenue set to cross $1 billion in August
Michigan is sure to surpass $1 billion in lifetime tax revenue once August’s numbers are release in September.
Reality is, we’ve probably already hit it at this late in the month.
With $40.8 million generated to state and local entities in July, that pushed Michigan’s lifetime tax revenue total to $980.3 million from online casinos.
Michigan has had five consecutive months with at least $39 million in tax revenue. That number hasn’t been below $20 million since June of 2021.
WynnBet gets 2.5% of market share
WynnBet is sure to be paying close attention to the July numbers from Michigan.
With it closing down online operations in eight states and putting Michigan’s operations “under review” it surely needs to see positive results.
In July, WynnBet collected 2.5% of the state’s online casino revenue market share at $3.87 million. That was the lowest total for WynnBet since September of 2022 and down slightly from July 2022’s $3.92 million.
With WynnBet still on the fence about staying in Michigan, seeing year-over-year decline of its online casino can’t be providing a lot of confidence. Still, the online casino industry in the state is thriving and providing millions in revenue each month. The key will be just what number WynnBet is basing its decision on.
WynnBet sits at 3.1% of the market share for 2023 ($34.1 million) and 3.6% of the lifetime online casino revenue market share ($135.6 million)
Michigan online casino July 2023 revenue by operator
|MGM Grand Detroit||BetMGM||$48,978,468||$4,897,847||$12,893,582|
|Little River Band of Ottawa||BetRivers||$9,141,891||$914,189||$2,303,756|
|Keweenaw Bay||Golden Nugget||$7,147,098||$714,710||$1,801,069|
|Grand Traverse Band of Ottawa and Chippewa||Caesars||$6,881,368||$688,137||$1,734,105|
|Sault Ste. Marie Tribe of Chippewa||WynnBet||$3,870,269||$387,027||$975,308|
|Pokagon Band of Potawatomi||Four Winds||$3,406,548||$340,655||$858,450|
|Little Traverse Bay Bands of Odawa||Fox Bet||$2,976,649||$297,665||$750,115|
|Match-E-Be-Nash-She-Wish Band of Pottawatomi||betParx||$1,816,653||$181,665||$425,093|
|Nottawaseppi Huron Band of Potawatomi||FireKeepers||$1,576,611||$157,661||$401,083|
|Lac Vieux Desert Band of Lake Superior Chippewa||PointsBet||$1,330,505||$133,050||$278,970|