Michigan’s online gaming and sports betting industry witnessed remarkable growth in September 2022, as commercial and tribal operators reported combined gross receipts of $176.5 million. This figure marked a significant 14% increase from the previous month and an impressive 40% surge compared to September 2021. The Michigan Gaming Control Board revealed that online gaming gross receipts reached $128.7 million, while gross sports betting receipts amounted to $47.8 million. Let’s delve deeper into the numbers and explore the state’s gaming landscape during this period.
Strong Performance in Online Gaming and Sports Betting:
Michigan’s operators experienced robust performance in both online gaming and sports betting. The $176.5 million in gross receipts is a testament to the growing popularity of these forms of entertainment in the state. Online gaming gross receipts slightly decreased by 1.7% from August’s figure, while gross sports betting receipts surged remarkably by 99.3%. This highlights the continued interest and demand for sports betting among Michigan residents.
Online Gaming vs. Sports Betting:
In September, the combined adjusted gross receipts for online gaming and sports betting amounted to $143 million. Online gaming contributed $115.8 million, while sports betting accounted for $27 million. Interestingly, online sports betting-adjusted gross receipts experienced an impressive 68.9% climb, indicating a surge in online sports wagering activity. Comparing the figures to September 2021, internet gaming adjusted gross receipts increased by 25.5%, showcasing the sustained growth of the online gaming market.
Tax Revenue and Payments to the State:
Operators paid a total of $25.6 million in taxes and payments to the state of Michigan. Online gaming taxes and fees contributed $24 million, and online sports betting taxes and fees amounted to $1.6 million. Additionally, the three Detroit casinos paid $7.1 million in wagering taxes and municipal services fees to the City of Detroit, while tribal operators reported making $2.8 million in payments. These financial contributions play a vital role in supporting the state’s economy and various initiatives.
Detroit’s Land-Based Casinos:
The three Detroit casinos, MGM Grand Detroit, MotorCity Casino Hotel, and Hollywood Casino at Greektown, generated a combined revenue of $103.4 million in September. Of this total, $100.8 million came from table games and slots, and $2.6 million from retail sports betting. MGM Grand Detroit held the largest market share at 48%, followed by MotorCity Casino Hotel with 31%, and Hollywood Casino at Greektown with 21%. Despite the slight decrease in revenue from table games and slots compared to September 2021 and August, the land-based casinos remain a significant contributor to the state’s gaming revenue.
Michigan’s online gaming and sports betting industry exhibited exceptional growth in September 2022, reflecting the continued interest and enthusiasm among players. The combined gross receipts of $176.5 million, with a month-on-month increase of 14% and a year-on-year increase of 40%, demonstrate the thriving gaming landscape in the state. As the industry continues to evolve, the contributions from taxes and payments to the state, as well as the revenue generated by land-based casinos, play a crucial role in supporting Michigan’s economy. With such promising growth, Michigan remains an exciting and vibrant market for online gaming and sports betting.