Michigan igaming and sports betting revenue reaches $218.5m in February

Michigan igaming and sports betting revenue reaches $218.5m in February

Revenue decreased by 4.8 per cent compared with January.

US.- Michigan commercial and tribal operators reported a combined $218.5m total internet gaming gross receipts and gross sports betting receipts in February. Gross receipts decreased 4.8 per cent compared to January.

According to the Michigan Gaming Control Board, February igaming gross receipts totalled $188m. The previous high was $181.9m last month. Gross sports betting receipts totalled $30.5m, down from $47.7m last month.

Combined igaming and internet sports betting adjusted gross receipts (AGR) for February were $182.1m: $169.2m from igaming (up 3.1 per cent from January) and $12.9m from internet sports betting (down 31.3 per cent). Compared to February 2023, igaming AGR was up by 27 per cent and sports betting was up by 52.7 per cent.

The internet sports betting handle was $402.6m down by 30.3 per cent from January 2024. Operators reported submitting $34.7m in taxes and payments to the State of Michigan during February. The three Detroit casinos reported paying the City of Detroit $9.3m in wagering taxes and municipal services fees. Tribal operators reported making $3.9m in payments to governing bodies.

See also: Fanatics launches in Michigan

Detroit casinos

Detroit’s three casinos generated $104.63m in revenue for January, according to the Michigan Gaming Control Board. Of the total, $104.76m was generated from table games and slots. Revenue from retail sports betting was negative $124,853. Table games and slot revenue decreased 0.2 per cent when compared to February 2023 but was up 11.6 per cent from January 2024.

In this article:
Michigan Gaming Control Board