The 2024 State of the State was given by Gov. Gretchen Whitmer on Wednesday night.
In the speech, Whitmer discussed a variety of topics, including economic plans for the new year.
While not specifically focusing on the gambling industry, it’s clear that the industry has provided a solid boost in tax revenue over recent years.
MGCB Executive Director supports Whitmer’s vision
The Michigan Gaming Control Board has expressed its support for Gov. Whitmer and her efforts to improve the economic situation in the state.
“As a native of Detroit, lifelong Michigander, and dedicated gaming regulator, I am pleased to express my support for the governor and her commendable economic initiatives as outlined in her recent State of the State address,” MGCB Executive Director Henry Williams said in a press release. “Governor Whitmer has demonstrated a sincere commitment to promoting economic growth and revitalizing our great state, and Michigan’s gaming industry is a significant contributor to that effort.”
Michigan’s gambling industry is coming off a record-setting 2023 in terms of online revenue. Between online sports betting and online casinos, the state tallied over $2.3 billion in revenue. That led to over $500 million in tax revenue for state and local entities.
The three Detroit casinos added over another $255 million in tax revenue during the year as well.
“Our commercial and tribal operators are already on a roll in 2024, fueled by momentum from 2023 — a year that saw Michigan’s total iGaming and sports betting gross receipts hit a record $2.3 billion,” Williams said. “The state continues to receive hundreds of millions of tax dollars from gaming operators and the casinos, which is much-needed funding that goes back into supporting our local communities and their citizens.”
Michigan second in online casino revenue
Michigan’s 2023 online casino market generated $1.92 billion in revenue.
That ranked second among the six states where online casinos are legal.
Michigan was just ahead of New Jersey, while finishing second to Pennsylvania ($2.1 billion).
“Despite the fact that Michigan only recently launched online gaming three years ago, it has since become an emerging powerhouse and the country’s second leading iGaming market, just ahead of New Jersey and behind Pennsylvania, proving that we’re well on our way to being simply the best,” Williams said.
With the continued growth of the Michigan online casino market in 2023, surpassing $2 billion in revenue for 2024 is an attainable goal.
‘Don’t Regret The Bet’ receives $3 million in funding
Last month it was announced that the MGCB’s responsible gambling program, “Don’t Regret The Bet” was allocated $3 million in funding.
That funding comes through the Michigan Fiscal Year 2024 state budget and had the support of Gov. Whitmer and state legislators.
The campaign was launched in March last year and used to promote responsible gambling in Michigan through multiple media avenues.
The MGCB has put an emphasis on the program as the gambling industry continues to grow in Michigan. While increased tax revenue helps the state, the MGCB wants to be sure gambling is done responsibly by those in the state.
“It is through the collaboration of government, businesses, and communities that we owe our collective success, and through which we can achieve continued economic growth and development that creates a better future for all Michiganders,” Williams said. “I am proud to be a part of it and pledge my support to collaborate with the governor and her administration in achieving our shared goals.”
The “Don’t Regret The Bet” campaign has received 2023 Platinum Viddy and Platinum dotCOMM awards in the last year.