The state’s 14 commercial and tribal internet casino gaming and sports betting operators reported a combined $145.28m in total gross internet gaming receipts and gross sports betting receipts in February.
While total receipts fell 6.8% when compared with January’s record of $155.9m, they were up by 62.9% compared to the $89.2m posted in February 2021 – the first full month of legal online sports betting in the state.
February internet gaming gross receipts were a Michigan record $122.78m, exceeding the previous record of $121.8m set in December 2021. The figure was also up by 53.8% compared to $79.7m in February 2021.
Gross sports betting receipts totalled $22.5m, down 35.2% on January 2022 but up 136.7% year-on-year from $9.5m.
Combined total adjusted gross receipts – which account for promotional spending – came to $106.6m. This included $110.6m from internet casino gaming and a $3.95m loss for internet sports betting. Monthly internet gaming adjusted gross receipts were 1.3% higher than in January.
Total handle at $398.4m fell 19.8% compared with January numbers, but was up 32.0% year-on-year.
The operators submitted $22m in taxes and payments to the State of Michigan during January including internet gaming taxes and fees of $21.6m. The three Detroit casinos – MGM Grand Detroit, MotorCity Casino and Penn National’s Greektown Casino Hotel – reported paying the City of Detroit $6.2m in wagering taxes and municipal services fees.
Compared with February 2021 results, monthly internet gaming adjusted gross receipts were up 47% and internet sports betting adjusted gross receipts rose 63.4%.
Michigan recently reported revenue figures of $1.40bn for the entirety of 2021.
Original article: https://igamingbusiness.com/michigan-record-internet-gaming-february-2022/
