The Michigan Gaming Control Board (MGCB) has granted approval to 888 Holdings, designating them as the new platform provider for the online sports betting site operated by the Hannahville Indian Community. Under this partnership, the site will operate under the reputable Sports Illustrated brand name. This transition comes as TwinSpires, the previous platform provider, exits the online sector. The Hannahville tribe, known for operating the Island Resort and Casino in Harris, Michigan, has sought to continue its success by aligning with another experienced partner.
888 Holdings’ Expansion:
888 Holdings has been actively expanding its presence in the US market, with significant strides in Virginia and Colorado. In May, the company launched the Sports Illustrated (SI) sportsbook in Virginia, making it the second state where the app is available. This venture was preceded by a successful launch in Colorado in 2021. Spearheading its growth in North America, 888 Holdings appointed Howard Mittman as the president of its US operations. Mittman has been instrumental in managing 888’s relationship with Authentic Brands Group (ABG), a subsidiary of which is Sports Illustrated Sportsbook, the brand partnering with 888 Holdings.
Michigan iGaming and Sports Betting Revenue Surge:
The recent data from the Michigan Gaming Control Board reflects the thriving iGaming and sports betting industry in the state. In July, Michigan’s commercial and tribal operators reported a combined gross revenue of $148.2 million from online gaming and sports betting, showcasing an 8.3% increase compared to June’s $136.9 million. Online gaming, in particular, saw significant growth, with gross receipts reaching $126.6 million, up 4.2% from June’s $121.5 million. Gross sports betting receipts also witnessed a substantial surge, hitting $21.6 million, an impressive 40% increase from the previous month’s $15.4 million.
Breakdown of Gross Receipts:
The Michigan Gaming Control Board’s report further breaks down the combined adjusted gross receipts for online gaming and sports betting, totaling $131.2 million. Of this amount, $117.2 million is attributed to internet gaming, while $14 million stems from sports betting. Notably, monthly internet gaming adjusted gross receipts experienced a notable rise of 7.1%, while internet sports betting adjusted gross receipts skyrocketed by an incredible $9 million, representing a staggering 179.5% surge.
With the Michigan Gaming Control Board’s approval, 888 Holdings is set to elevate the online sports betting experience for the Hannahville Indian Community under the prestigious Sports Illustrated brand name. The alliance with a renowned partner like 888 Holdings signifies the tribe’s commitment to providing an exceptional gaming platform for its users. As Michigan’s iGaming and sports betting revenue continues to soar, the state remains a lucrative market for gaming operators, showcasing its potential for further growth in the industry. As the gaming landscape evolves, 888 Holdings’ strategic expansion and dedicated partnerships position them favorably in the competitive US market.