Michigan reports record igaming revenue in October
Michigan igaming and sports betting revenue reached $190.2m in October.
US.- Michigan’s commercial and tribal operators have reported a combined $190.2m in gross online gaming and sports betting receipts for October. That’s an increase of 7.7 per cent from September’s $176.5m.
Internet gaming gross receipts were a state record $141m, beating the $132.4m record set in April 2022 and up 9.5 per cent from September’s $128.7m. The Michigan Gaming Control Board reported gross sports betting receipts of $49.2m compared with $47.8m in September – a 2.9 per cent increase.
Combined adjusted internet gaming and internet sports betting receipts were $158.5m – $126.7m from gaming and $31.8m from sports betting. Monthly internet gaming receipts were up $10.9m or 9.4 per cent and sports betting up by $4.6m or 16.9 per cent compared with September.
Compared with October 2021, internet gaming adjusted gross receipts jumped 28 per cent or $27.7m, and sports betting 577.9 per cent or $27.1m. The internet sports betting handle was $480.8m, up 31.9 per cent compared with September’s $364.5m.
For the first 10 months of 2022, aggregate internet gaming adjusted gross receipts totalled $1.2bn while sports betting adjusted gross receipts totalled $163.2m.
Detroit’s land-based casinos
Detroit’s three casinos have reported $102.8m in monthly aggregate revenue for October. According to the Michigan Gaming Control Board, table games and slots generated $100.7m and retail sports betting $2.1m.
Table games and slots revenue from the MGM Grand Detroit, MotorCity Casino and Penn National’s Hollywood Casino at Greektown was down 9.6 per cent from October 2021 and down 0.1 per cent from September of this year.
MGM Grand Detroit accounted for 46 per cent of the market share, MotorCity Casino 32 per cent and Hollywood Casino at Greektown 22 per cent. Compared to October 2021’s figures, MGM’s revenue decreased 11 per cent to $46.4m, while MotorCity Casino was down 12.3 per cent to $32.4m and Hollywood Casino at Greektown saw a fractional 0.3 per cent increase in monthly gaming revenue at $21.9m.
