The Michigan Gaming Control Board recently released its report on the performance of online gaming and sports betting in July. The figures showcased impressive growth, with combined gross receipts reaching $148.2 million, representing an 8.3% increase compared to the previous month.
Online Gaming and Sports Betting Show Significant Growth:
In July, Michigan witnessed a surge in online gaming and sports betting. Gross receipts from online gaming amounted to $126.6 million, registering a notable 4.2% increase from June’s $121.5 million. Meanwhile, gross sports betting receipts surged by an impressive 40%, reaching $21.6 million, compared to the previous month’s $15.4 million. The combined adjusted gross receipts from online gaming and sports betting totaled $131.2 million, with internet gaming contributing $117.2 million and sports betting accounting for $14 million.
Steady Growth in Adjusted Gross Receipts:
Adjusted gross receipts serve as a crucial indicator of the market’s health. In July, adjusted online gaming gross receipts grew by 7.1%, reflecting the robustness of the sector. Internet sports betting adjusted gross receipts witnessed a staggering increase of 179.5%, soaring by $9 million. When compared to July 2021, the adjusted gross receipts for internet gaming rose by 41%, while internet sports betting adjusted gross receipts saw a 13% increase.
Tax Contributions and Fees:
Operators in Michigan made substantial tax contributions and payments to the state and local governments. In July, they submitted a total of $24.9 million in taxes and payments to the State of Michigan. Internet gaming accounted for $24.1 million, whereas online sports betting taxes and fees amounted to $815,409. The three Detroit casinos paid $6.9 million in wagering taxes and municipal service fees to the City of Detroit. Internet gaming taxes and fees contributed $6.5 million, while internet sports betting taxes and fees reached $386,187. Additionally, tribal operators made payments of $2.7 million to governing bodies.
Detroit’s Land-Based Casinos:
The report also highlighted the performance of Detroit’s three land-based casinos: MGM Grand Detroit, MotorCity Casino, and Penn National’s Hollywood Casino at Greektown. These establishments reported a monthly aggregate revenue of $107.2 million for July. Of this total, $105.9 million was generated from table games and slots, while retail sports betting accounted for $1.3 million. Although table games and slots revenue decreased by 8.4% compared to July 2021, it marked a positive 7.9% growth from June 2023, when the revenue was $98.2 million. Overall, table games and slots revenue experienced a 3% increase during the first seven months of 2022 compared to the same period in the previous year.
The latest report from the Michigan Gaming Control Board underscores the flourishing online gaming and sports betting market in the state. July witnessed substantial growth in gross receipts, adjusted gross receipts, and tax contributions. Additionally, the performance of Detroit’s land-based casinos remained steady, with table games and slots revenue showing positive momentum. These developments highlight Michigan’s thriving gambling industry and its contribution to the state’s economy. As the market continues to evolve, stakeholders can anticipate further growth and increased engagement in online gaming and sports betting.