The torrid start to Michigan internet gaming continued into May, as $94.9 million in revenue was raised by operators. This total again places the state among the nation’s leaders, according to numbers released Tuesday by the Michigan Gaming Control Board.
In a familiar refrain, BetMGM paced the field, gaining $36.1 million in revenue. The totals mostly arrive from BetMGM Casino with some revenue from BetMGM Poker. The haul amounted to a 38.0% market share.
And talk about consistency: the total revenue for Michigan operators was down just $213.47 from April, a measly downturn of 0.0002%. In April, the total was $94,851,765.56. That number dropped to (gasp!) $94,851,552.09 in May.
Although internet gaming has remained consistent, MI online sports betting revenue numbers were down again in May during a slower portion of the sports calendar.
FanDuel, DraftKings lead best of the rest
The state’s 13th and newest entry into the Michigan online casinos market, PointsBet Casino, debuted with $612,361 of revenue after launching May 4. Play Gun Lake, which launched in April, reported $506,450 of revenue in its first full month online.
|Licensee||Brand||Revenue||Promos||State Tax||Local Tax|
|Sault Ste. Marie||WynnBet||$4,329,115||$432,912||$846,734||$211,683|
|Little Traverse Bay||Fox Bet||$3,846,191||$384,619||$775,392||$193,848|
|Keweenaw Bay||Golden Nugget||$3,835,192||$383,519||$708,945||$177,236|
|Lac Vieux Desert||PointsBet||$612,361||$0||$97,978||$24,494|
|Match-E-Be-Nash-She-Wish||Play Gun Lake||$506,450||$50,645||$72,929||$18,232|
|Grand Traverse||William Hill||$274,827||$0||$43,972||$10,993|
Most operators reported similar market share numbers from April.
Nearly $400 million of revenue in 4+ months
Operators raised $18.1 million in state taxes and $5.2 million in tax and payment revenue for the city of Detroit. The revenue is the operator winnings from online casino gaming and online poker. Tribal governments netted $1.9 million in tax payments from operators.
Since the Jan. 22 launch of internet gaming, $393.9 million of revenue has been raised, and $71.5 million in state taxes have been paid, along with $20.9 million to Detroit and $7.3 million to tribal governments.
Two more operators should launch this year, as FireKeepers and Soaring Eagle have said they will begin offering online casino products.