The year 2023 has been an eventful one for PokerStars in Michigan.
As the online partner for Odawa Casinos, PokerStars became the first to launch interstate poker when it hit that landmark on Jan. 1 of this year.
At the end of July, Flutter announced it would be shutting down Fox Bet Sportsbook, the online sports betting partner to PokerStars.
With no sports betting to support it, has the aid of interstate poker been enough to see PokerStars add revenue this year?
PokerStars Casino up over 16% in Michigan this year
The launch of interstate poker play by PokerStars Casino Michigan has seen positive results throughout the year.
The operator has had revenue growth every month of 2023 when compared to the same month in 2022.
Overall that has led to PokerStars being up 16.7% in revenue for the year at $26.8 million through nine months.
| Month | 2022 Revenue | 2023 Revenue | Percent Growth |
|---|---|---|---|
| January | $3,109,849 | $3,643,776 | 17.2% |
| February | $2,628,928 | $2,890,894 | 10.0% |
| March | $2,606,888 | $3,066,993 | 17.6% |
| April | $2,706,536 | $2,783,651 | 2.8% |
| May | $2,462,716 | $2,994,496 | 21.6% |
| June | $2,368,365 | $2,804,930 | 18.4% |
| July | $2,255,186 | $2,976,649 | 32.0% |
| August | $2,560,195 | $3,012,568 | 17.7% |
| September | $2,242,709 | $2,595,247 | 15.7% |
| Total | $22,941,370 | $26,769,203 | 16.7% |
Operator still under Michigan’s average growth
The 2023 year has been a strong one for all Michigan online casinos.
Following a big September with $166.4 million in revenue, Michigan’s collective iGaming revenue is up 23% through nine months of 2023 when compared to the first nine months of 2022.
So, though PokerStars Michigan is up nearly 17% in revenue, it’s still not keeping pace with the average growth of the state.
That is somewhat surprising considering it was the first to offer something no other Michigan online casino could.
No replacement for Fox Bet set
PokerStars operates through Flutter, which also owns FanDuel. Earlier this year, Flutter elected to shut down its operations of Fox Bet across the country.
That has left just 14 Michigan online sportsbooks for multiple months.
Currently, there has been no update from Flutter or Odawa Casinos on a replacement for Fox Bet. For the time being, Odawa doesn’t have an online sports betting option to add to its revenue.
Though, across the Michigan border in Ontario, PokerStars runs its own branded online sportsbook, along with an online casino and poker.
The loss of Fox Bet isn’t necessarily a huge blow. In 2022, Fox Bet recorded just under $2.1 million in online sports betting revenue in Michigan.
PokerStars’ revenue growth in its online casino this year has been more than enough to cover that difference.
PokerStars still shooting for 2021 results
Originally debuting in Michigan as Stars Casino, PokerStars is a rare online casino that peaked in 2021.
Over its first four months of operation, Stars Casino was a top-five Michigan online casino in terms of revenue.
Through the history of Stars/PokerStars in Michigan, March of 2021 remains its peak for monthly revenue at $5.8 million. That’s still 58.5% greater than its peak month in 2023, which was $3.6 million in January.
Overall, in 2021, Stars Casino recorded $40.9 million in online casino revenue in Michigan. It then dropped to $29.9 million in 2022. Currently, PokerStars Casino Michigan is on pace for about $35-36 million in revenue in 2023.
