Michigan’s dynamic gaming landscape witnessed a robust performance in November, as commercial and tribal operators collectively reported a substantial $209.2 million in gross receipts from internet gaming and sports betting. This figure marked a notable 1.9% increase compared to October’s $205.3 million, showcasing the resilience and growth of the state’s gaming industry.
Breakdown of Gross Receipts:
Internet Gaming Receipts: Surpassing previous records, internet gaming receipts reached an impressive $175.3 million in November. This figure notably exceeded the previous high of $171.8 million recorded in March, indicating a sustained and upward trajectory in online gaming activities.
Sports Betting Receipts: Gross sports betting receipts contributed significantly to the overall figure, totaling $33.9 million. While internet gaming dominated the landscape, sports betting played a crucial role in diversifying the sources of revenue for operators.
Adjusted Gross Receipts (AGR):
Combined AGR: The combined adjusted gross receipts (AGR) for internet gaming and sports betting reached $158.1 million. This comprehensive figure encompassed $157.8 million from internet gaming and $294,810 from online sports betting, reflecting the diverse revenue streams within the gaming sector.
Year-over-Year Comparison: Internet gaming AGR experienced a notable surge of 20.5% compared to the same period last year, underlining the sustained growth in online gaming activities. In contrast, sports betting AGR witnessed a temporary decline of 98.9% year-over-year, indicating fluctuations in this segment.
Online Sports Betting Handle:
Handle Growth: The internet sports betting handle achieved a significant milestone, reaching $568.8 million. This marked a commendable 6.7% increase from October’s handle of $533 million, representing the highest handle recorded to date.
Tax Contributions: Operators demonstrated their commitment to the state by submitting $33.6 million in taxes and payments. Additionally, the three Detroit casinos contributed $8.4 million to the City of Detroit in wagering taxes and municipal services fees.
Michigan’s November gaming report reflects a thriving industry, with internet gaming and sports betting continuing to shape the landscape. The state’s strategic approach to online activities, coupled with sustained consumer interest, positions Michigan as a key player in the evolving gaming sector. As the industry navigates fluctuations, the overall upward trend in gross receipts signifies a promising future for Michigan’s gaming economy.