Michigan‘s gaming industry continues to grow as commercial and tribal operators reported a combined gross revenue of $176.1 million from internet casino gaming and sports betting in July. This marks a 4% monthly increase compared to June’s total of $169.3 million.
The Michigan Gaming Control Board has provided insights into this revenue surge, breaking it down into two categories: gross receipts from internet gaming and gross sports betting receipts.
In July, iGaming raked in $153.6 million, while gross sports betting receipts amounted to $22.5 million. Comparatively, June 2023 saw internet gaming receipts at $151 million and gross sports betting at $18.3 million.
Taking a closer look at the combined adjusted gross receipts (AGR) for both internet gaming and sports betting in July, the figure stands at $154.6 million. Out of this total, iGaming contributed $138.2 million, while online sports betting accounted for $16.4 million.
This data reveals a 1% increase in online gaming AGR and a 77.5% increase in mobile sports betting AGR compared to June 2023. Furthermore, these numbers also indicate growth compared to July 2022, with internet gaming AGR up by 18% and online sports betting AGR up by 16.8%.
Despite the strong performance in these areas, online sports betting saw a decrease in handle, which amounted to $200.8 million in July, marking an 11.9% decline from June’s $227.9 million.
Operators contributed their share to the state’s revenue, submitting a total of $29.8 million in taxes and payments during July. This sum includes $28.7 million from internet gaming taxes and fees and $1.1 million from internet sports betting taxes and fees.
Additionally, the City of Detroit benefited from gaming activity in July, receiving $7.6 million in wagering taxes and municipal service fees from its three casinos. Tribal operators also played their part, contributing $3.5 million in payments to governing bodies.
Land-based gaming also up
Earlier this month, the state’s Gaming Control Board released a separate report for land-based gaming. Physical casinos in Detroit reported a monthly revenue of $107.2 million, primarily generated by table games and slots, which accounted for $106.7 million.
Retail sports betting contributed an additional $477,543 to this figure. This performance reflects a 4.8% increase in revenue from table games and slots compared to the previous month and a 0.7% growth compared to July 2022.
Breaking down the market share among the three Detroit casinos, MGM Grand Detroit Casino led the pack with 47%, followed by MotorCity Casino at 29% and Hollywood Casino at Greektown at 24%.
Original article: https://www.yogonet.com/international/noticias/2023/08/23/68447-michigan-sees-4-monthly-boost-in-july-online-casino-gaming-sports-betting-revenue
