Michigan’s online casino operators had one of their best months in September.
According to numbers released by the Michigan Gaming Control Board, the 16 Michigan online casinos posted revenues totaling $202.6 million.
The only other time the state posted revenues north of $200 million was in March when operators netted $215.2 million. These figures were a massive 20.8% jump compared to October 2023 and just shy of a 3% increase from August’s $196.6 million.
However, these were gross numbers. After spending $20.25 million on promos, the net adjusted revenues totaled $182.3 million.
It’s not only the second-best month of 2024 but the second-best month in the history of Michigan online casinos.
September Michigan online casino revenue
| Licensee | Online Brand | Revenue | Promos | Taxes |
|---|---|---|---|---|
| MGM Grand Detroit | BetMGM | $53,370,906 | $5,337,091 | $14,049,891 |
| MotorCity | FanDuel | $48,832,783 | $4,883,278 | $12,855,230 |
| Bay Mills | DraftKings | $38,227,349 | $3,822,735 | $9,633,292 |
| Grand Traverse Band of Ottawa and Chippewa | Caesars | $12,976,519 | $1,297,652 | $3,270,083 |
| Little River Band of Ottawa | BetRivers | $12,307,014 | $1,230,701 | $3,101,368 |
| Keweenaw Bay | Golden Nugget | $9,318,263 | $931,571 | $2,348,274 |
| Lac Vieux Desert Band of Lake Superior Chippewa | Fanatics | $5,694,636 | $569,464 | $1,435,048 |
| Greektown | Hollywood | $4,368,771 | $436,877 | $1,150,079 |
| Pokagon Band of Potawatomi | Four Winds | $4,119,737 | $411,974 | $1,038,174 |
| Sagniaw Chippewa | Eagle | $3,892,512 | $389,251 | $980,913 |
| Little Traverse Bay Bands of Odawa | PokerStars | $2,549,469 | $254,947 | $642,466 |
| Sault Ste. Marie Tribe of Chippewa | Horseshoe | $2,289,894 | $228,989 | $577,053 |
| Match-E-Be-Nash-She-Wish Band of Pottawatomi | betParx | $2,114,769 | $211,477 | $532,922 |
| Nottawaseppi Huron Band of Potawatomi | FireKeepers | $1,587,584 | $158,758 | $400,071 |
| Hannahville | SI | $941,463 | $94,146 | $203,356 |
| Total | $202,591,670 | $20,258,912 | $52,218,220 |
Market share increases came from the middle of the pack
Once again, BetMGM Michigan held off FanDuel Casino for the top revenue spot. However, their revenue numbers were relatively flat compared to August.
Most of the month-over-month increase came from the mid-tier operators. Fanatics Casino was the largest gainer in September. Its monthly earnings jumped from $3.7 million in August to $5.7 million in September, a 34% increase.
Golden Nugget earned an additional $1.9 million in September compared to August, good for a 20% increase.
FireKeepers, betParx, PokerStars, WynnBet, and BetRivers experienced a tiny month-over-month decline.
WynnBet exited the market at the start of October and gave its license to the newly-launched Horseshoe Online Casino. Next month will dictate whether the second Caesars-owned online platform can outperform Wynn’s online casino product.
2024 set to be the best year yet for Michigan online casinos
In its short history, Michigan has watched its online casino industry steadily grow over nearly four years. Last year was the industry’s best year so far, with a revenue of north of $1.9 billion.
August’s numbers put the market over the $6 billion lifetime mark. With three-quarters of 2024 already in the books, the industry has already netted more than $1.75 billion.
In other words, operators are on pace to shatter last year’s numbers.
