Michigan iGaming sets new record with $132.4M revenue while online sportsbooks enter seasonal slowdown

According to figures released Tuesday by the Michigan Gaming Control Board, the state's commercial and tribal operators in April reported a combined $163.1 million in online gaming receipts and online sports betting - a slight increase of 0.6% compared with March results. But most notably, the month brought a new record for online casinos in the state.

During the month of April, online gaming generated a record $132.4 million, surpassing the previous record of $131.67 million set in March. Meanwhile, revenue tied to online sports betting reached a total of $30.7 million.

"Without football or the majority of the NCAA Tournament, sports betting inevitably slowed in April," Paul Costanzo, lead analyst for PlayMichigan.com said in a statement Tuesday. "One of the many reasons why online casino revenue is so important for operators and for the state is that it produces consistently, month after month."

Adjusted gross receipts totaled $136 million, including $119.3 million from internet casino gaming and $16.7 million from internet sports betting. Monthly internet gaming adjusted gross receipts were a fractional 0.6% higher than in March, and internet sports betting adjusted gross receipts rose 13.9%. Compared with April 2021, internet gaming adjusted gross receipts increased 34.3%, and internet sports betting adjusted gross sports betting receipts were 53.5% higher. 

In April, total internet sports betting handle was $371.2 million, up nearly 49% year-over-year but down 17.8% from March. Including retail sports betting, which the state reports separately, Michigan's sportsbooks' handle for the month was $396 million, according to PlayMichigan.com, which noted that sportsbooks are likely seeing the start of a seasonal slowdown before football season kicks off.

The state's online gambling operators submitted $25.2 million in taxes and payments to the state for the month. The three Detroit casinos - MGM Grand Detroit, Motor City Casino, and Hollywood Casino at Greektown- paid the city of Detroit $7.2 million in wagering taxes and municipal services fees tied to online gambling in April. And tribal operators made $2.7 million in payments to governing bodies.

Motorcity Casino, MGM Grand and Hollywood Casino at Greektown, Detroit.

"The clear takeaway from the first four months of the year is that Michigan’s online gaming industry isn’t close to reaching its ceiling yet,” Eric Ramsey, an analyst for PlayUSA.com, said in a statement. “Even with headwinds affecting the wider economy, that growth should continue through at least the end of the year and likely well after.

Last week, Detroit's three land-based casinos reported $118.73 million in revenue during April 2022, up from $109.5 million in April 2021, according to the Michigan Gaming Control Board (MGCB). Table games and slots generated $116.86 million in revenue while retail sports betting produced revenue of $1.87 million.