One month after its first nine-figure revenue month in history, the Michigan internet gaming sector went for an encore in October.
Spurred by wildly popular Michigan online casinos, the 14 operators again set another record, raising $109.7 million in revenue, according to numbers released Thursday by the Michigan Gaming Control Board.
This total comes after the casinos and two Michigan online poker operators raised $102.4 million in September revenue, a number that has grown in each full month since the July 22 launch of live dealer online casinos.
BetMGM Casino MI once again leads internet gaming market
BetMGM Casino Michigan once again led the way for the state’s operators, earning $41.4 million in revenue, good for a 37.7% market share.
|Licensee||Brand||Revenue (GGR)||Promos||State Tax||Local Tax|
|MGM Grand Detroit||BetMGM||$41,372,055||$4,137,205||$7,298,031||$3,593,163|
|Keweenaw Bay||Golden Nugget||$5,201,308||$520,131||$1,048,584||$262,146|
|Sault Ste. Marie||WynnBet||$4,255,150||$425,515||$857,838||$214,460|
|Little Traverse Bay||Fox Bet||$984,512||$98,451||$198,478||$49,619|
|Lac Vieux Desert||PointsBet||$640,736||$1,480||$102,281||$25,570|
The gambling giant has led the way since January’s launch of the sector. That success is buoyed by a strong name brand in the state, relentless advertising and aggressive bonusing in the sector’s early stages.
The company also benefits from having one of the state’s two online poker brands, BetMGM Poker MI, as part of its offerings and bottom line.
Two huge names in daily fantasy sports took their battle to the sports betting arena and now are fighting for second place in Michigan internet gaming.
Both operators were among the 10 of 14 MI internet gaming brands to improve revenue from September.
Stars Casino, PokerStars combine for 66.2% revenue drop
That’s the first month the Flutter brands brought in less than $1 million in MI revenue. The total was a 66.2% drop from September, while the overall market grew by 7.1%.
The pair combined for a 0.9% market share of revenue in October after earning 2.8% of the September revenue.
Big month means big tax haul for state, Detroit, tribes
The big internet gaming month again means another nice tax outcome for several public entities.
From October’s haul, operators paid $20.3 million in state taxes, $5.5 million to the city of Detroit and $2.3 million to tribal operators. Since January’s launch, online casinos and poker have contributed $159.3 million in tax money to the state, $44.0 million to Detroit and $17.5 million to tribes.
However, it also means a dent in money in the pockets of many Michiganders who play these online games. It also means potentially serious issues for these individuals, including the substantial impacts of problem gambling.
If you or someone you know needs help, call the Michigan Problem Gambling Helpline at 1-800-270-7117.