Tuesday, December 6, 2022

Michigan reports 161m in May revenue for iGaming and sports betting

Michigan has reported $160.9m in gross gaming revenue (GGR) for iGaming and sports betting, a 1% decline month-on-month. 

May’s iGaming receipts totalled $127.4m, down 4% on the $132.4m record revenue Michigan reported for April this year. 

However, GGR for sports betting reached $33.5m in May, a 9% increase from the $30.7m recorded in April. Of this amount, $22.5m was taken from online sports betting alone. 

Despite this monthly increase, May internet sports betting handle of $333.4m was down 10% on April’s amount. 

Although Michigan’s May results represent a combined month-on-month decline, GGR for iGaming was up nearly 29% year-on-year, while internet sports betting alone was up a significant 127% from the same period in 2021.  

All in all, Michigan received $24.6m in taxes from operators working in the state. Of these taxes, $23.5m came from iGaming alone, while $1.1m was made from online sports betting.

These tax amounts do not include the $7.1m in wagering taxes and municipal services provided to Detroit, Michigan, from the city’s three casinos. 

All of MGM Grand Detroit, Hollywood Casino at Greektown and MotorCity Casino Hotel contributed $6.4m in tax from iGaming, and $693,999 in sports betting taxes and fees. 

May 2022 saw 15 operators authorised for iGaming and online sports betting by the State of Michigan.

The state continues to increase its iGaming and sports betting presence following legalisation back in December 2019 and a delayed launch of January 2021.

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