Finance

Michigan sports betting revenue reaches $4.4m in September

1 minute read
Revenue for Detroit’s three commercial casinos rose 26.8% month-on-month in September, with retail sports betting’s contribution hitting $4.4m in its first full month of activity.

The Michigan Gaming Control Board also released figures for the first full month of sports betting. While retail betting launched in the state on March 11, properties were forced to close just days later due to the state going into lockdown due to novel coronavirus (Covid-19), and not reopening until August 5.

Qualified adjusted gross receipts – gross receipts minus the monetary value of free play incentives provided to and wagered by players – amounted to $4.4m.

MGM Grand Detroit again led the vertical with $2.1m in adjusted gross receipts, followed by MotorCity on $1.6m and Greektown with $722,509.

The three casinos paid a total of $165,428 in retail sports betting taxes for the month, as well as $202,190 in retail sports betting taxes to the City of Detroit.

In addition, daily fantasy sports operators reported $2.3m in adjusted revenue for the month, paying $189,875 in taxes to the State of Michigan.

Read the full story on iGB North America.

Subscribe to the iGaming newsletter