The summer months continue to hit US states hard, with Michigan sports betting handle – both retail and online – suffering strong declines as popular US sports fixtures continue to dry up.
With no large summer international tournaments on the horizon, there’s little hope of immediate rebound before the resumption of the NFL season in September.
The three retail casinos in Detroit reported to the Michigan Gaming Control Board $8.1 million in total retail sports betting handle, with total gross receipts yielding -$378,641. Gross receipts were down by $1.3 million month-over-month, and down $844,308 year-over-year.
Gross receipts by casino for retail sports betting were as follows:
- MGM: $30,010
- MotorCity: -$708,625
- Hollywood Casino at Greektown: $283,009
Michigan commercial and tribal operators reported a combined $169.3 million total internet gross sports betting receipts and internet gaming gross receipts in June. Month-over-month, gross receipts decreased 8.9% compared to the prior month of May.
89% of the receipts came from internet gaming, with $151 million from gross receipts. Sports betting receipts totalled $18.3 million – although the summer months
June iGaming gross receipts totalled $151.0 million and Michigan gross sports betting receipts totalled $18.3 million. In May 2023, Michigan iGaming gross receipts were $150.6 million and gross sports betting receipts were $35.2 million.
Month-over-month, iGaming increased by 1.0% while sports betting predictably experienced a 58% decrease. Both grew on a revenue basis year-over-year, with 25.1% for iGaming and 83.9% for sports.
A total of 15 sites operated legal MI sports betting and Michigan online casino during the month of June. Michigan is one of the busiest states for gambling, with 23 tribal casinos operated by 12 sovereign tribal nations, 3 commercial casinos and regulated online and retail sports betting. Gross casino gaming revenue for 2022 reached a record $3.26 billion in 2022.
With Ohio sports betting now legal, analysts predict that sports betting revenue may never soar to previous peaks as cross-state revenue has been cannibalized.