The Michigan gaming industry has come up with its latest figures, and the numbers are hinting at a bit of a cooling-off period. According to a report by the Michigan Gaming Control Board (MGCB), the state’s commercial and tribal internet gaming (iGaming) and sports betting operators have collectively pulled in gross receipts totaling $285.2 million for June. This figure represents a 5.4% downturn from the performance in May.
Breaking down the revenue streams, iGaming was responsible for the lion's share, grossing $240.6 million, a notable decrease from the $251.47 million garnered the month before. Similarly, gross sports betting receipts have taken a dip, ringing in at $44.6 million for June, down from $49.96 million in May. While these percentages may signal a decrease in month-on-month numbers, a broadened perspective shows a year-over-year rise—iGaming's adjusted gross receipts (AGR) are up by a robust 37.3%, with sports betting AGR growing by $58.7 million compared to June of the previous year.
The sports betting handle, which measures the total amount wagered by bettors, has experienced a significant slide at 21.6%, going from $386.1 million in May to $302.7 million in June. Although these fluctuations are not unusual in the gaming industry, they can reflect a variety of factors, including seasonal sports calendars and consumer spending habits.
From the standpoint of the state's coffers, iGaming continues to be a more substantial source of tax revenue, with operators reporting $47.1 million in taxes and fees for June, in contrast to the $1.8 million sourced from internet sports betting. Detroit's own commercial casinos had their contributions to the city’s tax revenues enumerated, with $12.3 million coming from iGaming taxes and fees while internet sports betting taxes and fees were at $527,932. On the tribal side, payments made to governing bodies by their operators amounted $5.8 million.
The current gaming landscape in Michigan comprises 15 commercial and tribal operators authorized to offer various forms of gaming. Out of these, iGaming is offered by all 15, whereas 12 have internet sports betting in their roster. For those who are curious about the numbers, the MGCB's website houses more in-depth figures, including a detailed revenue distribution table and results from individual operators.
