Ranking Michigan Operators By Online Casino Revenue Percentage

Written By Dave Briggs on November 9, 2023
Ranking Michigan Operators By Online Casino Revenue Percentage

Which of Michigan’s 15 online gambling operators take the highest percentage of their revenue from online casinos? PlayMichigan took a deep dive into the statistics.

Recently, Michigan hit a milestone when it surpassed $5 billion in total lifetime online gambling revenue. The vast majority of that total — 80% to be exact — comes from online casinos in Michigan.

Lifetime, Michigan online casinos have produced revenue of just over $4.1 billion. Meanwhile, Michigan online sportsbooks have produced revenue of just over $972 million.

Leading operators by online casino revenue percentage may surprise you

The leaders in total lifetime Michigan online casino revenue alone likely won’t surprise you.

The state has long been led by BetMGM casino Michigan, followed by other huge operators FanDuel casino Michigan, DraftKings and BetRivers.

The top 10 by lifetime online casino revenue in Michigan through September 2023 are:

  1. BetMGM — $1.5 billion
  2. FanDuel — $725 million
  3. DraftKings — $694 million
  4. BetRivers — $269 million
  5. Golden Nugget Michigan — $185 million
  6. WynnBet — $144 million
  7. Caesars Michigan — $141.5 million
  8. Barstool — $124.6 million
  9. PokerStars MI — $97.5 million
  10. Four Winds — $86 million

Now, add in the online-only sports betting revenue. Then figure out what percentage of the total online gambling revenue for each operator comes from online casinos. The rankings change dramatically.

And, many operators well exceed the 80% mark for total online gambling revenue from online casinos — with the leaders at nearly 100%.

Michigan online operators by percentage of total revenue coming from online casinos:

  1. Golden Nugget – 98.9%
  2. Four Winds – 98.8%
  3. FireKeepers – 97.6%
  4. WynnBet – 97%
  5. Eagle – 95.06%
  6. BetRivers – 95.05%
  7. Play Gun Lake – 94.6%
  8. PokerStars – 93.3%
  9. SI – 91.4%
  10. BetMGM – 86.4%
  11. DraftKings – 79%
  12. Caesars – 76.4%
  13. Barstool – 68.7%
  14. FanDuel – 65%
  15. PointsBet – 48.4%

Larger operators also tend to do better in online sports betting

Now, this stands to reason when you consider those at the bottom of this list tend to be major online sports betting operators, which eats into percentage of the total coming from online casinos.

And, total revenue is a better measure of success.

But, for the smaller operators, focusing as much of their business as possible on driving online casino revenue, not sports betting, is a smart strategy.

Online casinos are where the big money is in Michigan. They also have larger margins compared to sports betting where the margins are razor thin. And, online casinos cost less to operate.

All that means they are not only a good bet for operators, but also a stronger driver of tax revenue to the state of Michigan to the benefit of the citizens of the state.

LEARN MORE ABOUT MI ONLINE CASINOS:

Photo by PlayMichigan
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Dave Briggs

Dave Briggs is a managing editor and writer for Catena Media. His expertise is covering the gambling industry in Michigan with an emphasis on online casino, online sports betting and horse racing sectors. He is currently reporting on the gambling industries in Michigan and Canada.

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