November’s revenue numbers came out on Monday and it was a big month for many online operators.
Online casinos collectively had another record month, while online sportsbooks approached $480 million in handle.
Some operators have more positive news than others, though. Here’s a look at the ups and downs for online casino and sportsbook operators in November.
Looking at November’s numbers
For the second straight month, Michigan has set a new record for online casino revenue.
November saw Michigan’s 14 operators collect $145.4 million in revenue. That was up 3.2% from October’s previous record that was just under $141 million.
When it comes to online sports betting, Michigan’s 15 operators collected just under $480 million in handle. That was percentage points less than October’s $480.8 million in October.
November’s online handle was the third-highest of 2022 behind October and January’s $496.8 million.
Online Casinos: Who’s up, who’s down
Despite a record month, not everyone is quite sharing in the success, though many are.
Up: WynnBet Casino
WynnBet Casino MI is seeing a really nice finish to 2022.
After recording just $3.2 million in online revenue in September, those numbers have made big jumps in each of the last two months.
October saw WynnBet jump to $4.5 million in revenue, a 42.9% jump. November then saw $5.6 million, a 22.7% jump from October. It is also a 75.2% jump from September.
November also was a record-high in online revenue for WynnBet.
Up: PointsBet Casino
PointsBet Casino MI was a bit of a slow progressor in Michigan. However, the online operator is starting to find its groove.
For the first time in its history, PointsBet has posted back-to-back months with revenue over $1 million. That includes a record-breaking month of $1.62 million in November.
November’s total was a 53.8% increase from October’s $1.05 million. October was the second-highest revenue total for PointsBet at the time.
Down: Caesars Casino
Not everyone saw online casino revenue growth in November, but most were pretty close.
Caesars Casino MI, however, was not.
Caesars actually recorded its lowest revenue total for 2022 at $4.2 million. It was a 20.6% drop from October’s $5.3 million.
This also marked the fifth consecutive month that Caesars has seen a decline in online casino revenue.
Online Sportsbooks: Who’s up, who’s down
While sports betting in Michigan may be hitting a bit of a plateau, some online sportsbooks are making waves.
Up: Eagle Casino & Sports
The online sportsbook platform for Soaring Eagle Casino & Resort hit a new milestone in November. Last month, Eagle Casino & Sports crossed the $2 million online handle mark.
It’s November total of $2.4 million in online handle was a 35.6% jump from October’s previous high of $1.8 million.
Eagle Casino & Sports has also seen an online handle growth for fourth consecutive months.
Up: betParx Sportsbook
The online sportsbook for Gun Lake Casino is having a strong finish to 2022, to go along with a strong start.
In November, betParx recorded $2.4 million in online handle. That was a huge jump of 48.2% from October’s $1.6 million. It was also just shy of January’s $2.5 million record-high.
Since hitting a low of just $741K in May of this year, betParx has seen an increase in online handle each month since. Since May, betParx has grown 226.9% in online handle.
Down: Caesars Sportsbook
Not to pick on Caesars, but its online sportsbook is also down in November.
Caesars Sportsbook MI recorded just $33.2 million in online handle last month. That was a 17.3% drop from October’s $40.1 million.
What should be more concerning for Caesars is that it was just its eighth-highest revenue month at a time when other sportsbooks are hitting record numbers.
