Michigan Shatters Online Casino Revenue Record With $188 Million In February

Written By Drew Ellis on March 19, 2024 - Last Updated on March 28, 2024
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Despite it being the shortest month of the year, Michigan blew past its previous online casino revenue record in February.

Over the 29 days last month, Michigan recorded just over $188 million, setting a new record by over $6 million.

February’s online casino revenue was a 3.4% increase from January’s previous record of $181.9 million. It was a staggering 26.9% increase from last February’s $148.2 million.

bar graph showing Michigan online casino revenue comparison for February

February 2024 online casino revenue

Online casinos in Michigan continue to make record monthly gains, setting a new monthly record for the fourth consecutive month. The $188 million in February was an increase of nearly $40 million from last February’s total.

  • Online casino revenue: $188 million, up 3.4% from January
  • February online casino tax payments: $33.8 million to state and $12.9 million to local entities
  • Top online casino app by revenue: BetMGM Michigan with $50.3 million

bar chart showing Michigan online casino revenue January and February comparison

Three takeaways from February’s online casino report

Michigan just shy of $5 billion in OC revenue

We didn’t think Michigan would be able to hit the $5 billion mark in February with nearly $200 million needed to hit the milestone. However, the state came much closer than we’d expected.

The new record monthly revenue put Michigan at $4.99 billion lifetime through February. It is just $9.8 million shy of hitting that next key mark.

With March already being 19 days in, Michigan has surely passed that milestone already and will have blown past it by the time March’s numbers are released next month.

It will have taken the state just 39 months to reach $5 billion in iGaming revenue.

FanDuel right on BetMGM’s heels

BetMGM crossed over $50 million in monthly revenue in February. That was the first time it had done that since April of last year.

Despite that, FanDuel Casino got the closest it ever has to overtaking BetMGM for the monthly revenue lead.

FanDuel’s $48.4 million in February was a new record for the operator by over $4 million. The previous high was $43.9 million in November.

The difference between the two operators this month was just over $1.8 million. That’s the closest margin we’ve seen between the two yet.

As FanDuel continues to push on BetMGM’s top spot, it is also separating itself further from DraftKings Casino as the No. 2 operator in the state. DraftKings was at $36.8 million in February, but has still failed to ever reach the $40 million mark in its Michigan history.

Fanatics makes small impact in late February debut

It’s hard to make much judgement on the Fanatics Casino launch in Michigan for February.

Fanatics officially took over for PointsBet on Feb. 22 with both its online casino and online sportsbook product.

That left eight days for it to amass iGaming revenue.

For the month, the PointsBet/Fanatics combo came in with $1.86 million in revenue. That was its highest total since November and fourth-highest month ever for Northern Waters Casino.

March will be a better indicator on how much the Fanatics switch will boost online casino revenue.

February 2024 online casino revenue by operator

LicenseeOnline BrandRevenuePromosTaxes
MGM Grand DetroitBetMGM$50,257,368$5,025,737$13,230,252
Bay MillsDraftKings$36,884,777$3,688,478$9,294,964
Little River Band of OttawaBetRivers$12,121,656$1,212,166$3,021,352
Grand Traverse Band of Ottawa and ChippewaCaesars$10,731,750$1,073,175$2,632,679
GreektownHollywood Casino$4,869,918$486,992$1,038,351
Keweenaw BayGolden Nugget$4,624,567$462,457$966,342
Pokagon Band of PotawatomiFour Winds$3,652,624$365,262$714,143
Sault Ste. Marie Tribe of ChippewaWynnBet$2,999,806$310,258$572,187
Little Traverse Bay Bands of OdawaPokerStars$2,963,518$296,352$558,994
Match-E-Be-Nash-She-Wish Band of PottawatomiPlay Gun Lake$2,715,964$271,596$497,490
Sagniaw ChippewaEagle$2,685,319$268,532$511,458
Lac Vieux Desert Band of Lake Superior ChippewaFanatics$1,862,070$186,207$335,173
Nottawaseppi Huron Band of PotawatomiFireKeepers$1,830,762$183,076$329,537
Photo by PlayMichigan
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Drew Ellis

Drew Ellis is currently the Lead Writer of PlayILottery.com. He was the former Lead Writer of PlayMichigan, the No. 1 source for online gambling news in Michigan. A lifelong resident of the state, Ellis has been working in various forms of media since 1998, including more than a decade in the sports betting industry prior to transitioning into US casino markets in 2020.

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