Michigan’s monthly revenue reports have to be viewed very closely by WynnBet.
The online operator announced plans to close operations in eight states earlier in August. It also put its Michigan operations under review.
That review means each monthly Michigan online casino revenue release has a little added emphasis as it determines whether or not to stay in the state.
What did July’s release indicate to WynnBet?
WynnBet Casino MI has lowest revenue month in July
The numbers weren’t great for WynnBet Casino MI in July.
The online partner of Kewadin Casinos recorded $3.9 million in revenue last month, its lowest number for the year by more than $700,000.
That resulted in just 2.5% of the market share for the state, which also was its lowest total for 2023.
Interestingly enough, WynnBet Sportsbook MI recorded its highest online sports betting revenue for 2023 with $228,484. That equated to just 1% of the online sports betting market share for the month.
While WynnBet had improved sportsbook numbers in July compared to a year ago, the focus is going to be on the online casino report.
WynnBet’s 2023 Michigan online casino revenue
WynnBet Casino has been pretty consistent with its place in Michigan’s all-time online casino revenue history.
Since January of 2021, WynnBet holds 3.6% of the lifetime market in the industry.
July’s 2.5% is certainly a concerning number, but not quite what we’ve seen from WynnBet in 2023.
| Month | Revenue | Market Share |
|---|---|---|
| January | $4,589,125 | 3.0% |
| February | $5,413,521 | 3.7% |
| March | $4,736,576 | 2.8% |
| April | $5,711,354 | 3.6% |
| May | $4,982,746 | 3.3% |
| June | $4,808,955 | 3.2% |
| July | $3,870,269 | 2.5% |
| August | $4,655,881 | 3.1% |
| September | $4,111,095 | 2.5% |
| October | $3,213,006 | 2.0% |
| Total | $46,092,527 | 2.9% |
While July was a low point for WynnBet, that was also the case a year ago. July of 2022 was also $3.9 million in revenue, which was its lowest total of the year at that point.
What positive can WynnBet take from Michigan’s July report
At first glance, the July online casino report doesn’t seem great for WynnBet.
However, there are some positives that the operator can take away.
The biggest is that WynnBet is still millions ahead of where it was at this point a year ago.
Through seven months of 2023, WynnBet has $34.1 million in online casino revenue. That’s 7.3% higher than where it was through the first seven months of 2022 ($31.8 million).
A big stretch is coming up over the next two months. August and September were the lowest revenue months for WynnBet Casino MI in 2022. Should WynnBet be able to show big growth in those months for 2023, it can be millions of dollars in revenue.
With WynnBet shutting down operations in so many states, it also could free up focus to its online casino in Michigan. Putting in a concentrated effort to grow its presence in Michigan could be very fruitful.
Michigan’s online casino industry is still growing with no clear sign of plateauing.
