The Michigan Gaming Control Board (MGCB) has released its latest monthly revenue report revealing that the state’s licensed retail and online gambling operators combined to generate $288.3 million in revenues during the month of November.
Detroit Retail Casino Revenues
The city’s three licensed casinos reported $79.1 million in monthly aggregate revenue during the month of November. Of this figure, table games and slots generated $76 million in revenue while retail sports betting generated $3.1 million.
According to the MGCB report, the retail market shares were as follows:
- MGM – 39%
- MotorCity – 34%
- Greektown – 27%
All three casinos reported a combined 23.9% drop in revenue for table games and slots year-on-year and a 7% decrease compared to October 2023.
- MGM down 34.4% to $30.6 million
- MotorCity down 17.8% to $24.7 million
- Greektown down 10.8% to $20.7 million
Detroit’s casinos paid a combined $6.2 million in gaming taxes to the State of Michigan during October. All three casinos also reported submitting a combined $9.4 million in wagering taxes to the City of Detroit during the same period.
QAGR reported by casino:
- MGM – $230,847
- MotorCity – $2.2 million
- Greektown – $657,535
Online Casinos Set Revenue Record
The state’s 15 tribal and commercial online casino license holders reported a combined $175.3 million in gross gaming receipts from online casino gaming. This was the highest total ever recorded in the state and resulted in adjusted gross receipts of $157.8 million representing an increase of 9.4% when compared to the previous month and up by 20.5% year-on-year.
Internet gaming taxes and fees from casino gaming came to $32.9 million for the month of November.
Sportsbooks Report All-Time Record Handle
Both mobile and retail sports betting operators reported accepting over $584.1 million in wagers during the month of November. This is the highest sports betting handle since Michigan sports betting launched in March 2020. So far this year, sportsbooks have handled over $4.1 billion in wagers.
Of this figure, $568.8 million came through online sportsbooks. Meanwhile, Detroit’s three casinos reported accepting $15.3 million in sports wagers during the month. Retail sports betting qualified adjusted gross receipts (QAGR) increased by $1.2 million year-on-year.
Combined revenues for both the retail and mobile sectors came to $37 million while the adjusted revenue figure for November came to just $3.3 million. This brings the year-to-date total to $197.3 million.
State taxes for sports betting for the month of November came to $856,825 thanks to an adjusted win percentage of just 0.58%.
Year-to-Date Sports Handle, Revenues & Taxes in Michigan
| Period | Total Handle | Mobile Handle | Mobile Handle % | Sportsbook Revenue | Win % | Adjusted Sportsbook Revenue | Adjusted Win % | State Taxes |
|---|---|---|---|---|---|---|---|---|
| Jan 2023 | $490,904,822 | $475,627,139 | 96.89% | $33,785,629 | 6.88% | $17,845,165 | 3.64% | $1,182,537 |
| Feb 2023 | $357,161,200 | $344,942,386 | 96.58% | $23,134,729 | 6.48% | $8,911,555 | 2.50% | $600,604 |
| Mar 2023 | $421,666,037 | $407,727,854 | 96.69% | $46,016,812 | 10.91% | $32,857,411 | 7.79% | $1,969,024 |
| Apr 2023 | $338,127,854 | $322,821,968 | 95.47% | $36,275,215 | 10.73% | $24,636,287 | 7.29% | $1,698,048 |
| May 2023 | $305,275,755 | $288,339,700 | 94.45% | $36,125,966 | 11.83% | $22,906,428 | 7.50% | $1,468,436 |
| Jun 2023 | $235,996,767 | $227,895,436 | 96.57% | $17,928,415 | 7.60% | $8,840,545 | 3.75% | $557,466 |
| Jul 2023 | $208,808,123 | $200,844,525 | 96.19% | $22,985,441 | 11.01% | $16,870,314 | 8.08% | $1,113,274 |
| Aug 2023 | $228,495,764 | $218,460,119 | 95.61% | $23,480,419 | 10.28% | $16,217,613 | 7.10% | $1,089,345 |
| Sep 2023 | $475,772,391 | $457,695,679 | 96.20% | $45,606,094 | 9.59% | $20,296,038 | 4.27% | $1,310,943 |
| Oct 2023 | $551,127,024 | $533,007,996 | 96.71% | $46,135,708 | 8.37% | $24,605,244 | 4.46% | $1,822,047 |
| Nov 2023 | $584,142,443 | $568,823,683 | 97.38% | $37,043,266 | 6.34% | $3,383,949 | 0.58% | $856,825 |
| Totals | $4,197,478,180 | $4,046,186,485 | 96.25% | $368,517,694 | 9.09% | $197,370,549 | 5.18% | $13,668,549 |
Fantasy Contests
November saw fantasy contest operators report total adjusted revenues of $2.7 million. This resulted in taxes of $229,544.
The year-to-date revenue total for fantasy contest operators now stands at $19.5 million while the state has collected $1.6 million in taxes.
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.