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Michigan iGaming and Sports Betting Surges this Summer

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Posted on: August 23, 2023, 01:00h. 

Final up to date on: August 23, 2023, 06:09h.

July numbers launched by the Michigan Gaming Control Board (MGCB) present the state’s gaming trade continues to develop, with Michigan marking a 4% month-to-month improve in on-line on line casino and sports activities betting income.

The bar on the BetMGM Sports activities Lounge at MGM Grand Detroit. Sports activities betting helped gasoline the general progress of the state’s gaming trade in July. (Picture: Detroit Free Press)

Business and tribal operators reported $176.1 million mixed gross income, in keeping with the MGCB. That tops June’s complete of $169.3 million, overcoming a month that may usually present a summer season droop.

In the meantime, Michigan’s sports activities betting receipts for July got here to $22.5 million in comparison with $18.3 million in June.

The MGCB additionally breaks down July numbers in mixed adjusted gross receipts (AGR) for web gaming and sports activities betting, which is available in at $154.6 million. IGaming contributed $138.2 million of that complete, with sports activities betting at $16.4 million.

The AGR numbers launched by the MGCB present an 18% bump in on-line gaming and a 16.8% improve in cellular sports activities betting in comparison with July 2022.

Michigan Sports activities Betting Competitors

Whole sports activities betting in Michigan, together with on-line and in-person betting, got here in at $208.8 million. There’s been no summer season droop for Michigan sports activities betting apps both, as 96% of bets had been positioned on-line. Nice Lakes State sports activities betting apps accepted $200.8 million.

FanDuel Sportsbook led the sports activities betting competitors in July, taking in 37% of the whole at $73.4 million. That’s the sportsbook’s largest month-to-month deal with to date this 12 months. DraftKings was solely barely down in July. Its on-line deal with totaled 27.5% in comparison with 29% in June. DraftKings on-line deal with amounted to $55.3 million in July.

BetMGM was Michigan’s third hottest sports activities betting app in July, with $32.9 million in deal with.

The state collected a complete of $1.5 million in sports activities betting taxes in July.

Land-Primarily based Gaming Elevated Too

The MGCB launched a separate report for bodily casinos earlier this month. Detroit’s casinos reported a month-to-month income of $107.2 million, with most of that attributed to desk video games and slots at $106.7 million. Retail sports activities betting added a further $477,543 to the whole.

Among the many three Detroit casinos, MGM Grand Detroit topped the group with 47%, adopted by MotorCity On line casino at 29% and Hollywood On line casino at Greektown at 24%.

In its August 15 assembly, the MGCB unanimously authorised the three approved Detroit casinos a one-year license renewal.

“Renewing a on line casino license displays an ongoing dedication to function a good and accountable institution,” MGCB Government Director Henry Williams mentioned. “It signifies a dedication to sustaining excessive requirements of high quality, safety, and honest play inside the trade. The renewal of those licenses is validation of the casinos’ dedication to working as accountable and valued company residents inside Michigan that contribute positively to the state’s playing trade whereas making certain a secure and fulfilling expertise for all patrons.”

Licensees are taxed at an 18% price.

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