Michigans digital gambling income decreased by 8.7% in April, reaching $234.8 million.
Michigans sports wagering and online gambling businesses brought in $234.8 million (£184.7 million/€216.3 million) in revenue in April, a drop of 8.7% from the total revenue generated in March.
Michigans online gambling income dropped by 8.7% in April, reaching $234.8 million.
The March revenue figure was $257.1 million, the highest total Michigan has seen so far in 2024, even though the April figure was lower in comparison. Nonetheless, the April total revenue still surpassed January and February, which generated $229.6 million and $218.5 million, respectively.
Compared to the same period last year, April revenue was up 20% year-over-year, when Michigans sports wagering and online gambling businesses generated $195.7 million in revenue.
Michigans online gambling income declined, but sports betting revenue remained steady.
Online gambling revenue fell from $215.5 million in March to $192.9 million in April, with March being Michigans strongest month for online gambling so far.
Meanwhile, sports betting handle also declined significantly. Michigans online sports betting operators handled $399.1 million in bets in April, down from $480.4 million in March. However, sports betting revenue remained stable in April at $41.9 million.
In terms of monthly adjusted gross revenue (AGR), the total revenue for online gambling and sports betting was $201.9 million. Of this, $174.1 million came from online gambling, while online sports betting generated $27.8 million. Monthly AGR for online gambling fell 10.4%, while sports betting increased by $4.1 million.
However, compared to the same period last year, monthly AGR for online gambling was up 21%.
Digital sports wagering revenue experienced a 13.3% increase, surpassing the general growth rate of 4%.
Casino earnings in Michigan saw a decrease in April, with the three commercial gambling establishments in Detroit reporting $109.4 million in revenue for the month, representing an 11.7% decline from March but slightly exceeding the $109.7 million reported during the same period last year.
Monthly taxes and payments to the state in April amounted to $37.6 million, down 8.5% from $41.1 million in March, with online gambling contributing $35.8 million and online sports wagering contributing $1.8 million. Native American operators paid $4.3 million to the regulatory body in April.
The three casinos paid $9.8 million in taxes and municipal service fees to the city of Detroit in April, down 10.9% from $11 million in March.
MGM holds a dominant position among the three commercial casinos, commanding a 46% market share. Meanwhile, MotorCity and Greektown Casino-Hotel maintain 30% and 24% market share, respectively.
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