Gross internet gaming and sports betting receipts from commercial and tribal operators in Michigan reached $205.3m during October. This was 7.9% ahead of $190.2m last year but 2.4% down from $210.4m in September 2023.
Online casino was again the main source of all internet gambling revenue in Michigan. Gross receipts in the igaming segment reached $160.3m, an increase of 13.7% from $141.0m in the previous year.
In contrast, sports betting gross receipts declined 8.5% to $45.0m. This was despite sports betting handle climbing to a new monthly high in Michigan.
Adjusted gross gaming receipts exceed $167m in Michigan
After accounting for promotional deductions, adjusted gross receipts (AGR) from igaming and sports betting was $167.7m. This was an increase of 5.8% from $158.5m posted in October of last year.
Breaking this down, igaming AGR jumped 13.9% to $144.2m. However, sports wagering AGR fell by 26.1% year-on-year to $23.5m, again despite handle reaching an all-time high.
As for tax, $30.1m in igaming taxes and $1.8m in sports betting tax was paid to the State of Michigan. An additional $8.2m came from Detroit’s three commercial casinos, including some $7.5m in igaming tax and $663,754 from sport betting.
A total of 15 commercial and tribal operators offered online gambling in October. Of these, 14 offered online sports wagering and 14 igaming services.
Detroit casinos hit by strikes in October
Conformation of a new record in the online gambling sector in Michigan comes after details were also released on revenue from the three commercial casinos in Detroit during October.
Revenue declined 19.5% year-on-year to $82.8m as venues in Michigan felt the impact of ongoing strikes. Tables games and slots revenue amounted to $81.7m, with sports betting qualified adjusted gross receipts at $1.1m.
Detroit was recently boosted by the news that new pay deals were agreed with workers at MotorCity and Hollywood Casino at Greektown. However, no such agreement could be struck with MGM staff and workers there continue to strike.
Original article: https://igamingbusiness.com/finance/michigan-online-sports-betting-handle-hits-record-in-october/
