Michigan reports record igaming revenue in October

Overall online commercial and tribal revenue for the month amounted to $190.2m (£159.9m/€183.7m), up from $134.0m in the same month in 2021 and also 7.7% higher than $176.5m in September this year, according to the Michigan Gaming Control Board (MGCB).

Of this total, $141.0m came from online gaming gross receipts, a 25.0% rise from $109.7m and a new record, surpassing the previous monthly high of $132.4m set in April this year.

Internet sports betting gross receipts also increased 67.8% year-on-year to $49.2m, while the state’s handle climbed 3.6% from $463.3m to $480.8m.

Combined total adjusted gross receipts, which also account for promotional spending, were $158.5m, including $126.7m from igaming activity and $31.8m from sports betting.

Operators paid $28.2m in taxes and payments to the state of Michigan during October, with $26.3m in igaming taxes and fees and a further $1.9m from sports wagering.

For the year-to-date, aggregate internet gaming adjusted gross receipts in the 10 months to 31 October was $1.20bn, while sports betting amounted to $163.2m.

The latest set of results comes after the MGCB earlier this week also published figures for the three land-based commercial casinos in Detroit for October.

Combined revenue for the month from the MGM Grand Detroit, MotorCity Casino and Hollywood Casino at Greektown was $102.8m, which was 10.0% lower than $114.1m in October 2021 and also 0.7% down from $103.4m in September this year.