Michigan gaming revenue falls 8% in August
Each of Michigan’s three casinos reported year-on-year declines in revenue, but online gaming activity increased 114 per cent.
US.- The gaming revenue in the state of Michigan last month came to $326.3 million, an 8 per cent decline from August last year.
It’s not such a steep drop considering that casinos are operating at only 15 per cent capacity due to Covid-19 measures.
That’s partly because online gambling revenues increased 114 per cent increase, to $87.8 million.
Sports betting also increased, up 60 per cent year-on-year to $39.5m. The majority of bets were placed online, with $602 million of the $668 million sports betting handle coming from online platforms.
But back on land, in the first month of opening since the pandemic shutdown, Michigan’s three casinos raked in revenues of $69.3 million while operating at 15 per cent capacity.
MGM Grant Detroit had the highest revenues at $286 million (down 46 per cent year-on-year), MotorCity Casino took in $25 million (down 37.5 per cent) and Penn National’s Greektown Casino $15.7 million (down 41.5 per cent).
The state of Michigan received a total of $5.6 million in taxes from the three casinos.
Other states also saw sports betting on the rise in August. New Jersey broke the monthly record for the highest sports betting handle, with a total of $668 million wagered.
