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 $288.1 million in revenues during the month of October.
Detroit Retail Casino Revenues
The city’s three licensed casinos reported $82.8 million in monthly aggregate revenue during the month of October. Of this figure, table games and slots generated $81.7 million in revenue while retail sports betting generated $1.1 million.
According to the MGCB report, the retail market shares were as follows:
- MGM – 46%
- MotorCity – 31%
- Greektown – 23%
All three casinos reported a combined 18.9% drop in revenue for table games and slots year-on-year and an 18.3% decrease compared to September 2023.
- MGM down 19.6% to $37.3 million
- MotorCity down 22.8% to $25 million
- Greektown down 11.7% to $19.4 million
Detroit’s casinos paid a combined $6.6 million in gaming taxes to the State of Michigan during October. All three casinos also reported submitting a combined $10.1 million in wagering taxes to the City of Detroit during the same period.
QAGR reported by casino each were:
- MGM – $365,705
- MotorCity – $669,028
- Greektown – $90,430
Online Casino
The state’s 15 tribal and commercial online casino license holders reported a combined $160.3 million in gross gaming receipts from online casino gaming. This resulted in adjusted gross receipts of $144.2 million representing a drop of 3.7% when compared to the previous month but an increase of 13.9% year-on-year.
Internet gaming taxes and fees from casino gaming came to $30.1 million for the month of October.
Sports Betting
Both mobile and retail sports betting operators reported accepting over $551.1 million in wagers during the month of October. This is the highest sports betting handle since Michigan sports betting launched in March 2020. So far this year, sportsbooks have handled over $3.6 billion in wagers.
Of this figure, $533 million came through online sportsbooks. Meanwhile, Detroit’s three casinos reported accepting $18.1 million in sports wagers during the month. Retail sports betting qualified adjusted gross receipts (QAGR) dropped by 46.3% year-on-year and by 28.6% month-on-month.
Combined revenues for both the retail and mobile sectors came to $46.1 million while the adjusted revenue figure for October came to $24.6 million. This brings the year-to-date total to $193.9 million.
State taxes for sports betting for the month of October came to $1.8 million.
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 |
| Totals | $3,613,335,737 | $3,477,362,802 | 96.14% | $331,474,428 | 9.37% | $193,986,600 | 5.64% | $12,811,724 |
Fantasy Contests
October saw fantasy contest operators report total adjusted revenues of $2.1 million. This resulted in taxes of $178,346.
The year-to-date revenue total for fantasy contest operators now stands at $16.8 million while the state has collected $1.4 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.