The Michigan Gaming Control Board (MGCB) has released its latest monthly revenue report revealing that the state’s licensed sportsbooks accepted $208.5 million in wagers throughout the month of August up 1% on the previous month’s total.
Online sports wagers accounted for 92.2% of all bets throughout the month as mobile sportsbooks accepted $192.3 million in wagers. This was an increase of 2.3% on July’s online sports betting figures. Meanwhile the state’s retail sportsbooks located in Detroit’s three casinos reported a total sports betting handle of $16.2 million in August.
Online sports betting operators reported adjusted gross receipts of $7.5 million. Meanwhile retail sportsbooks reported qualified adjusted gross receipts of $1.6 million, an increase of 36.2% on the previous month as the retail industry bounced back from a poor July.
Both online and retail revenue figures resulted in combined sports betting taxes of $783,776 for the state.
Internet gaming operators enjoyed a profitable month posting internet gaming gross receipts of $97.2 million for August. This was the highest month total since the industry’s January launch beating the previous record of $95.1 million set in March 2021. This resulted in adjusted gross receipts of $87.6 million which generated $17.9 million in taxes for the state.
Meanwhile, August saw Detroit’s three casinos report $113.82 million in monthly aggregate revenue. Of this figure, $112.17 million was generated by slots and table games with retail sports betting generating the remaining $1.65 million in revenue.
According to the MGCB the casinos’ market share for August was:
- MGM — 47%
- MotorCity — 32%
- Greektown — 21%
Table games and slots revenue increased by 61.7% year-on-year. However, all three casinos were only working at 15% capacity in August of 2020.
August saw all three casinos pay a total of $9.1 million in taxes to the state of Michigan and a further $13.3 million to the city of Detroit.
Image credit: Baishampayan Ghose / CC BY-SA 2.0