The Michigan Gaming Control Board has reported a return to month-over-month revenue growth with 4% overall growth in MI iGaming and sports betting combined.
The state’s commercial and tribal operators reported a combined $176.1 million in online casino and sports betting gross receipts for the month of July. This was an increase of 4% from $169.3 million reported in June.
This was made up of $153.6 million in iGaming gross receipts and $18.3 million in gross sports betting receipts. Sports betting gross receipts were identical to June 2023, but with a decrease in handle by 11.9% from $227.9 million in June to $200.8 million in July 2023. This meant a shift in Michigan sports betting operator’s hold from 8.0% to 9.1%, reflected in the improved revenue performance.
Adjusted gross receipts for July were $154.6 million, including $138.2 million from iGaming and $16.4 million from online sports betting. This was a 1% increase in iGaming adjusted gross receipts and 77.5% increase in sports betting AGR month-over-month to June 2023. Year-over-year, iGaming rose 18.0% and sports betting 16.8%
The operators reported submitting $29.8 million in taxes and payments to the State of Michigan during July, including:
- Internet gaming taxes and fees: $28.7 million
- Internet sports betting taxes and fees: $1.1 million
The three Detroit casinos reported paying the City of Detroit $7.6 million in wagering taxes and municipal services fees during July.
Internet gaming is taxed at 20-28% of adjusted gross revenue, and mobile sports betting is taxed at 8.4% of adjusted gross receipts. The state of Michigan has provided a full breakdown of revenue distribution.
Michigan’s online gaming performance remains considerably stronger than Detroit retail casinos performance. 3.8% of sports betting wagers were made in either MGM, MotorCity or Hollywood Casino at Greektown, but the bulk of landbased casino revenue came from slots.
The three Detroit casinos have recently had their licenses renewed by the Michigan Gaming Control Board after a unanimous vote. The licenses are one-year rolling contracts.