Michigan’s Gambling Market Experiences Steady Revenue Growth

Key Notions from the MGCB Research

The state authority reported that the iGaming segment accounted for the largest earnings of $196.7 million, 29.2% higher than in August 2023. The turnover in the sports betting niche increased by 18.1% to $27.4 million.

By the end of the summer, adjusted gross revenue (AGR), taking into account expenses on advertising campaigns, amounted to $193.2 million. Of this, $176.9 million was brought in by the online casino vertical.

AGR indicators in the sportsbook sector reached $16.3 million, 2.5% more than in the same period last year. Having analysed monthly indicators, the MGCB experts calculated the average gross hold, which amounted to 9.78%.

Leaders of the Local Web Market

The BetMGM brand remains the region’s most productive operator. Thanks to its partnership with MGM Grand Detroit, the company received $52.5 million in GGR and $47.2 million in AGR.

The FanDuel and MotorCity corporations, with gross and adjusted incomes of $48.4 million and $43.5 million, respectively, shared 2nd place in the ranking. DraftKings and the Bay Mills Indian Community round out the top 3 with earnings of $36.6 million and $32.9 million, respectively.

The FanDuel brand retained the title of the leading supplier in the sports betting segment. The operator’s GGR reached $11.1 million in August, and the AGR indicator was recorded at $7.6 million. The 2nd-best bookmaker in Michigan was the DraftKings company, with an income of $7.6 million and a monthly total handle of $78.1 million. BetMGM took 3rd place with a turnover of $4.6 million.

Operators brought in $37.8 million in taxes for the reporting period. The funds were distributed as follows:

• $36.9 million — from the iGaming sector;
• $874,501 — from the state bookmakers.

The deductions received by Detroit’s treasury exceeded the $9.4 million mark.

Ground Gambling Industry Growth

The total revenue of the local land-based segment reached $112.5 million, 7.3% more than last year and 5.8% higher than in July. The table games and slots vertical grew by 5.9% to $110.8 million.

QAGR, qualified adjusted gross betting profits, increased by 427.7% to $1.7 million. The local population spent a total of $9.6 million on sports wagers.

The leaders of the land-based market (share):

• MGM (48%).
• MotorCity (28%).
• Hollywood Casino in Greektown (24%).

In August, ground gaming establishments paid $17.3 million in taxes, while retail bookmakers contributed another $64,015. Local betting operators brought in $78,241 to Detroit’s development.

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