Michigan's commercial and tribal internet gaming and sports betting operations reported a decline in February, with combined gross receipts totaling $268.5 million, an 18.9% decrease from January. This drop was observed in both iGaming, which generated $222.5 million in gross receipts, and sports betting, which totaled $46.0 million. The sports betting sector saw a significant decrease compared to January's $83.0 million.
In terms of adjusted gross receipts, which account for the monetary incentives operators offer to bettors, the decline persisted. The total adjusted gross receipts amounted to $236.3 million, with $209.1 million coming from iGaming and $27.2 million from sports betting, reflecting a significant drop. This indicated that operators would need to adjust their forecasts accordingly. According to data from the Michigan Gaming Control Board, while iGaming's adjusted gross receipts showed a 10.3% decrease, the sports betting sector experienced a more significant decline, with adjusted gross receipts falling by 50.2% compared to January's performance.
The betting handle for internet sports betting, which represents the total amount wagered, also followed this downward trend. In February, the total handle was $379.8 million, marking a notable 31.6% decrease from the $555.2 million reported the previous month. However, a positive note can be found in the year-over-year comparison: iGaming's adjusted gross receipts rose by 23.6%, and sports betting adjusted gross receipts increased by $14.3 million compared to February of the previous year.
These fluctuations are also evident in the state taxes and payments made by operators. In February, they contributed a total of $43.8 million to Michigan, with $42.3 million coming from iGaming taxes and fees and a smaller $1.5 million from sports betting taxes and fees. Contributions to the City of Detroit followed a similar pattern, with iGaming taxes and fees accounting for $11.5 million and internet sports betting taxes and fees contributing $640,249. Tribal operators reported payments to governing bodies totaling $4.7 million in February.
For those looking to explore the details of each operator's performance, the Michigan Gaming Control Board provides a regularly updated online repository of information. Currently, 15 commercial and tribal operators are authorized to conduct iGaming and/or internet sports betting in the state, with all 15 offering iGaming and 12 offering internet sports betting. The complete results for Michigan's February iGaming and sports betting revenue are available on the MGCB's website.
