PointsBet confirmed the launch of the company’s first online casino Tuesday afternoon, a few hours after the Michigan Gaming Control Board announced its approval.
The Australian operator, which launched online sports betting in the state on Jan. 22, has chosen Michigan to be its first jurisdiction for online casino play. PointsBet is Michigan’s 13th online casino option.
PointsBet focuses company innovation in Michigan
Michigan has been a site of many firsts for PointsBet, including its first tribal partnership. The company inked a deal last year with the Lac Vieux Desert Band of Lake Superior Chippewa Indians tribe of the Upper Peninsula. The tribe operates Northern Waters Casino Resort in Watersmeet, near the Wisconsin border.
PointsBet was also the first sports betting operator to partner with an MLB team in the Detroit Tigers; the first to partner with a Michigan athlete in Richard Hamilton of the Detroit Pistons; and the first to acquire the naming rights for a bar at Little Caesars Arena.
“The Lac Vieux Desert tribe becomes the 12th operator to offer both forms of online gaming after meeting all regulatory requirements,” said Richard Kalm, the Michigan Gaming Control Board’s executive director, in a news release. “The associated revenue payments will support K-12 education, economic development and the local tribal governing body.”
All the same, the company’s imminent casino launch leaves two just two license holders without online gambling products. FireKeepers and Soaring Eagle have indicated plans to launch sports betting and internet gaming products beneath the umbrella of their own well-known casino brands.
The Gun Lake Tribe launched PlayGunLake online casino last month but has not yet launched online sports betting.
PointsBet opens with a dozen slot titles, other games
PointsBet’s first online casino opened with 12 slot titles, three table games and two versions of video poker.
Popular titles such as IGT’s Wolf Run and Da Vinci Diamonds are among the PointsBet slot options. PointsBet also has blackjack, baccarat and roulette.
It is expected that PointsBet will be significantly adding to its game library and promotional structure in the coming weeks.
Michigan online casinos on fire since January launch
Michigan online casinos have led the internet gaming market to extraordinary early heights here.
The state trails only New Jersey and Pennsylvania in overall revenue from internet gaming, which also includes the much-smaller online poker yield.
Michigan raised $95.1 million in internet gaming revenue for March, reaching a total of $204.2 million in the first 69 days.
During an earnings call last week, PointsBet ran through some of its quarterly numbers through March, which detailed huge US growth.
Its $375 million in sports betting wagers represented a 431% jump year-over-year. PointsBet also reported 127,470 active users, a 461% jump from a year ago and an 87% rise since Dec. 31, 2020.
In Michigan, PointsBet has been fifth in online sports betting handle, taking $22.6 million in bets, good for a 2.9% market share.
That’s led the rest of the pack, so to speak, as a “Big Four” of FanDuel, BetMGM, DraftKings and Barstool Sportsbook have set themselves apart in the market so far.
But the addition of an online casino should spur even more growth for PointsBet.