Michigan online casinos may not have set a fifth consecutive month of record revenue, but February 2023 was still a strong showing.
The 15 online casinos in Michigan combined to collect $148.2 million in revenue during the month. That’s the third-highest total in Michigan’s online casino history.
While a 3.6% drop from December’s record total of $153.7 million, it’s a 20.7% increase from February 2022’s total of $122.8 million.
“With just 28 days in the month, it’s no surprise Michigan online casinos didn’t match the record number of January,” PlayMichigan lead analyst Paul Costanzo said. “But still, bringing in $148.2 million, a 20.7% increase from February of 2022, is a very impressive number for the industry.”
February 2023 Michigan online casino revenue
Online casinos in Michigan had another big month in February:
- Online casino revenue: $148.2 million, down 3.6% from December
- February online casino tax payments: $26.3 million to state and $10.0 million to local entities
- Top online casino app by revenue: BetMGM Michigan with $48.4 million
Three takeaways from February Michigan online casino revenue report
Michigan just shy of $3 billion revenue mark
Michigan came up just a few dollars shy of crossing the $3 billion mark in all-time online casino revenue in February.
With the $148.2 million generated last month, it puts Michigan at $2,998,317,099 in all-time online casino revenue.
Realistically, Michigan likely crossed the mark in the early days of March. It took 27 months (or 26 and a day or two) for Michigan to hit this mark. Comparatively, Pennsylvania took 38 months (August 2022), while New Jersey took 91 months (May 2021) to get to $3 billion.
BetMGM takes a step back
BetMGM still has a firm grasp on being the top online casino operator in Michigan.
However, February’s revenue total of $48.4 million was the lowest BetMGM has recorded since September. It also snapped a fourth-month streak of over $50 million in revenue for the operator.
Despite all that, BetMGM still accounted for 32.7% of the market share in the state for February. It also has 36.9% of the all-time market share with $1.11 billion in revenue here in Michigan.
FanDuel, DraftKings hit new records
Despite being the shortest month of the year, two online casino operators had record revenue in February.
FanDuel Casino MI: $29.5 million, previous record was $28.95 million (December 2022)
DraftKings Casino MI: $26.9 million, previous record was $26.2 million (January 2023)
Along with the two big names setting a new high, six total operators had revenue growth from January to February. They were:
- Play Eagle
Michigan online casino February 2023 revenue by operator
|MGM Grand Detroit||BetMGM||$48,444,735||$4,844,474||$12,753,077|
|Keweenaw Bay||Golden Nugget||$6,440,045||$644,004||$1,412,122|
|Sault Ste. Marie||WynnBet||$5,413,521||$541,352||$1,091,925|
|Little Traverse Bay||Fox Bet||$2,890,894||$289,089||$557,985|
|Lac Vieux Desert||PointsBet||$1,457,316||$145,732||$262,317|