{"id":817622,"date":"2025-01-06T10:12:50","date_gmt":"2025-01-06T16:12:50","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/01\/06\/michigan-sets-220-7-million-gross-igaming-revenue-record-in-october\/"},"modified":"2025-01-06T10:12:50","modified_gmt":"2025-01-06T16:12:50","slug":"michigan-sets-220-7-million-gross-igaming-revenue-record-in-october","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/01\/06\/michigan-sets-220-7-million-gross-igaming-revenue-record-in-october\/","title":{"rendered":"Michigan sets $220.7 million gross igaming revenue record in October"},"content":{"rendered":"

Igaming revenue in Michigan reached a record $220.7 million (\u00a3174.1 million\/\u20ac209.0 million) in October, although the Great Lakes state reported a decline within its online sports betting market.<\/strong><\/p>\n

\n

Gross internet gaming and sports betting receipts from commercial and tribal operators in Michigan\u00a0hit $253.7 million in October. This comfortably surpasses $205.3 million from last year<\/a> by 23.6% but falls 2.8% short of $261.0 million in September this year<\/a>.<\/p>\n

Total market adjusted gross receipts, which account for promotional spending, hit $208.5 million, according to Michigan Gaming Control Board<\/a> (MGCB) figures. This beat last year by 24.3% but missed September\u2019s total by 0.7%.<\/p>\n

Michigan igaming market hits new heights<\/h2>\n

The stand-out highlight for October was record igaming revenue, surpassing the existing all-time high of $215.5m in March this year<\/a> by 2.4%. Gross igaming receipts were also 37.7% higher than last year and 8.9% above September.<\/p>\n

Adjusted gross receipts from igaming were 37.7% more than in 2023 and 8.9% higher than September in Michigan.<\/p>\n

FanDuel and MotorCity Casino narrowly beat BetMGM and MGM Grand Detroit for the top spot in the market in October. The FanDuel and MotorCity Casino partnership generated $56.17 million in gross receipts and $50.56 million in adjusted receipts.<\/p>\n

BetMGM and MGM Grand Detroit were just behind with $56.16 million in gross receipts and $50.55 million in adjusted gross receipts. DraftKings and the Bay Mills Indian Community rounded off the top three with $40.0 million in gross receipts and $36.0 million adjusted receipts.<\/p>\n

Sports betting gross receipts down to $33.0 million<\/h2>\n

Turning now to sports betting, gross online sports betting receipts hit $33.0 million. This is 26.7% less than last year and 43.5% less than September. As for adjusted gross sports betting receipts, this amounted to $9.9 million, down 58.0% on last year and 64.3% behind September. Unlucky NFL results for October have been bemoaned across the industry. <\/p>\n

However, handle-wise, players spent a total of $560.4 million on sports wagering. This is up 5.1% on last year and 11.7% from September but was not enough to halt a decline across receipts. In terms of hold, based on gross online sports betting receipts, this stood at 5.89%. As for adjusted gross sports betting receipts, hold for October was 1.77%.<\/p>\n

FanDuel and MotorCity Casino remain the runaway leaders in this market with $17.0 million in gross receipts. Having taken $211.3 million in wagers, this left a monthly hold of 8.05%.<\/p>\n

DraftKings and the Bay Mills Indian Community placed second with $6.5 million from $159.9 million for a 4.07% hold. BetMGM and MGM Grand Detroit ranked third with $4.6 million off $84.3 million, leaving a 5.46% hold.<\/p>\n

Other notable operators include ESPN Bet and Hollywood Greektown Casino, with gross receipts at $1.8 million and handle $31.5 million, meaning a 5.71% hold. Caesars and the Grand Traverse Band of Ottawa and Chippewa posted $1.2 million in receipts off $27.7 million for a 4.33% hold.<\/p>\n

As for taxes, operators submitted $42.1 million in total taxes and payments during October. Of this, $41.5 million related to igaming, while a further $569,374 came from sports betting . Tribal operators also reported making $5.2 million in payments to governing bodies.<\/p>\n

Retail sports betting slips to loss in Detroit<\/h2>\n

The MGCB has also released figures<\/a> for the three land-based commercial casinos in Detroit for October. Monthly aggregate revenue\u00a0hit $102.9 million, up 24.3% from last October<\/a>, during which the city was impacted by casino staff strikes, and 0.9% ahead of September this year<\/a>.<\/p>\n

Some $103.7 million came from slots and table games, an increase of 26.9% from last year. However, the overall market figure was brought down by an $826,796 loss from retail sports betting.<\/p>\n

MGM led the land-based market with a 48% share. It posted $49.4 million in casino revenue but negative $474,293 in qualified adjusted gross receipts (QAGR) from sports betting.<\/p>\n

MotorCity had a 30% share with $31.7 million in casino revenue and a $528,408 sports betting QAGR loss. Hollywood Casino at Greektown was the only venue to post positive QAGR at $175,905, while casino revenue hit $22.6 million, meaning a 22% overall market share.<\/p>\n

During October, the casinos paid $8.4 million in gaming taxes to Michigan and submitted $12.8 million in wagering taxes and development agreement payments to Detroit, all of which related to casino activity.<\/p>\n

As for sports betting, $6,649 was paid in gaming taxes to the state and $8,127 wagering taxes to Detroit.<\/p>\n<\/p><\/div>\n

Robert Fletcher
Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Igaming revenue in Michigan reached a record $220.7 million (\u00a3174.1 million\/\u20ac209.0 million) in October, although the Great Lakes state reported a decline within its online sports betting market. Gross internet gaming and sports betting receipts from commercial and tribal operators in Michigan\u00a0hit $253.7 million in October. This comfortably surpasses $205.3 million from last year by<\/p>\n","protected":false},"author":1,"featured_media":817623,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1730,308],"tags":[7263,5238],"class_list":{"0":"post-817622","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-michigan","8":"category-million","9":"tag-michigan","10":"tag-million"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/817622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=817622"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/817622\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/817623"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=817622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=817622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=817622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}