Michigan’s gaming industry witnessed a slight dip in May, with a 5.1% decrease in combined gross receipts from internet casino gaming and sports betting compared to April. The Michigan Gaming Control Board’s report sheds light on the specific figures, revealing a nuanced perspective of the state’s gambling landscape.
Internet Gaming and Sports Betting:
a. Overview of May Figures:
In May 2023, Michigan’s commercial and tribal operators reported a combined $185.8 million in gross internet casino gaming and sports betting receipts. This marked a 5.1% decrease from April’s $195.7 million.
b. Breakdown of Gross Receipts:
Internet Gaming: May’s internet gaming gross receipts totaled $150.6 million, a slight decline from April’s record-breaking $159.4 million.
Sports Betting: Gross sports betting receipts in May amounted to $35.2 million, showing a marginal decrease from April’s $36.3 million.
c. Adjusted Gross Receipts:
The combined adjusted gross receipts for internet gaming and sports betting in May were $157.5 million, comprising $135.5 million from internet gaming and $22 million from sports betting. While this reflected a 5.5% and 10.2% decrease, respectively, compared to April 2023, it represented an 18.1% increase and 2% decrease compared to May 2022.
d. Sports Betting Handle:
The internet sports betting handle for May was $288.3 million, down by 10.7% from April’s $322.8 million. Operators contributed $29.4 million in taxes and payments to the State of Michigan, with tribal operators adding $3.4 million in payments to governing bodies.
Land-Based Casinos:
a. Detroit’s Casino Revenue:
Detroit’s three casinos reported a total monthly revenue of $105.6 million for May. The breakdown includes $104.7 million from table games and slots and $893,732 from retail sports betting.
b. Monthly Revenue Trends:
Table Games and Slots: May’s revenue from table games and slots experienced a 1.4% decrease compared to May 2022. While there was a 4.5% drop from April 2023, there was a modest 0.4% increase compared to May of the previous year.
Conclusion:
Michigan’s gaming industry experienced a modest decline in May, with both internet gaming and sports betting contributing to the dip. The detailed breakdown of figures provides insights into the dynamics of the market, highlighting areas of growth and areas requiring attention. As the industry navigates fluctuations, stakeholders can leverage this data to make informed decisions and adapt strategies for sustained success.