In September, both commercial and tribal operators in Michigan reported combined revenues of $210.4 million in Internet gaming and sports betting gross receipts. This figure marks a substantial 20% increase compared to the $175.4 million reported in August. The breakdown of these figures reveals that Internet gaming gross receipts accounted for $166.4 million, with gross sports betting receipts contributing $44 million to the total.
Surge in Online Gaming and Sports Betting
When considering the adjusted gross receipts (AGR) for both Internet gaming and sports betting, the total amounted to $168.5 million in September. Of this total, Internet gaming made up $149.8 million, while sports betting contributed $18.7 million. This represents a 9.2% increase in total AGR compared to the preceding month, showcasing the industry’s robust performance. Furthermore, in a year-over-year comparison with September 2022, Internet gaming AGR surged by 29.3%, although sports betting experienced a 31.1% decrease.
Significant Growth in Sports Betting Handle
A standout statistic for September was the Internet sports betting handle, which amounted to a substantial $457.7 million. This represents a remarkable increase of $239.2 million compared to the $218.5 million handle recorded in August 2023. In terms of tax contributions, operators reported submitting $32.6 million to the State of Michigan, divided into $31.3 million in Internet gaming taxes and fees and $1.3 million in Internet sports betting taxes and fees.
Tax Contributions and Revenue Sharing
The three Detroit casinos made significant tax contributions to the City of Detroit, totaling $7.97 million in wagering taxes and municipal services fees. This amount was further divided into $7.5 million in Internet gaming taxes and fees and $470,071 in Internet sports betting taxes and fees. Tribal operators also played their part, contributing $4 million to governing bodies.
Michigan Gaming Control Board executive director, Henry Williams, recently announced the destruction of illegal gaming machines seized during MGCB investigations. This move aims to combat illegal gaming, which poses a threat to communities and citizens, often leading to increased criminal activity, financial exploitation, and other related social issues.
The September data underlines Michigan’s thriving online gaming and sports betting industry, highlighting its potential for continued growth and contribution to the state’s economy.