Michigan commercial and tribal operators have reported a combined $169.3 million in online gaming and sports betting revenue for the month of June, a decrease of almost 9% when compared to May results. However, the revenue figure grew by 24% when compared to the same month last year and brought the first half of 2023 total to $1.13 billion, up from H1 2022.
iGaming revenue accounted for most of the total at $151 million, the fourth consecutive month that revenue breaks the $150 million mark. Meanwhile, sports betting brought in $18.3 million. While online gaming revenue was actually up slightly from the $150.6 million reported in May, sports betting revenue was down by almost half from the $35.2 million posted the previous month, driving the month-on-month decrease.
Combined total iGaming and internet sports betting adjusted gross revenue for June was $146.1 million, with $136.9 million from internet gaming and $9.2 million from sports wagering. This represented a 1% increase and 58% decrease, respectively, compared to May. However, compared to June last year, iGaming was up by 25.1%, and sports betting hiked by 83.9%.
A monthly decrease was also posted for online sports betting handle, as the $227.9 million in wagers in June was down by 21% from $288.3 million handle recorded in May.
The operators reported submitting a combined $28.9 million in taxes and payments to the State of Michigan during June. The figure included iGaming taxes and fees of $28.4 million; and online sports betting taxes and fees at $545,632.
The three Detroit casinos reported paying the city $7.4 million in wagering taxes and municipal services fees during the month, including $7.1 million for iGaming and $286,569 for online sports wagering. For their part, tribal operators reported making $3.5 million in payments to governing bodies in June.
During June, a total of 15 operators offered internet gaming and internet sports betting.
Original article: https://www.yogonet.com/international/news/2023/07/27/68089-michigan-igaming-online-sports-betting-down-by-9-monthonmonth-in-june
