Michigan posts record gambling revenue for October

During the month of October, Michigan gamblers staked a new monthly record of $463.3 million across casino gaming and sports betting.

The Michigan Gaming Control Board (MGCB) reported that the state’s overall online tribal and commercial revenue for October amounted to $190.2 million. This figure signifies a 7.7% increase from the $176.5 million recorded in September this year. It is also a significant step up from October 2021’s $134.0 million.

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Out of combined revenue, $141.0 million was gotten from the internet gaming gross receipts, which is a 25.0% rise from $109.7 million. The amount is also a new record, beating out the monthly internet high of $132.4 million set in April this year.

The revenue for sports betting sites also grew 67.8% year-on-year to $49.2 million and 9.5% compared to September. The state’s handle recorded a 3.6% climb from $463.3 million to $480.8 million.

For October, the MGCB reported that combined total adjusted gross sports betting and internet gaming receipts were at $158.5 million. This amount also includes the sum of promotional spending and $126.7 million from online gaming activity. The $31.8 million from sports betting is also included.

Compared to September’s reports, October’s iGaming adjusted gross receipts increased by 9.4% to $10.9 million and the adjusted gross receipts for online sports betting increased by 16.9% or $4.6 million. The figure saw a 27.7 million or 28% and a $27.1 million or 577.9% year-over-year increase, respectively, when placed beside the figure of the same month in 2021.

Compared to the $364.5 million recorded for September, October’s $480.8 million for total internet sports betting handle increased by 31.9%. The MGCD also revealed that for October, the state operators turned in $28.2 million in payments and taxes to the state of Michigan. 26.3 million out of the sum was for iGaming taxes, while $1.9 million was from sports wagering.

MGCB released a report earlier this week on MGM Grand Detroit, Hollywood Casino at Greektown, and MotorCity Casino — the three land-based casinos in Detroit. The gaming venues had a combined revenue of $102.8 million for October. This figure is a 10.0% decrease from the $114.1 million recorded in October 2021. It is also 0.7% lower than the previous month’s $103.4 million.

The casinos reportedly paid $7.8 million to the city of Detroit in municipal service fees and wagering taxes. Internet gaming taxes and fees were at $6.9 million, while that for internet sports betting reached $852,875.

Tribal operators paid $3 million to governing bodies in October. The aggregate internet gaming from January 2022 to the close of October amounted to $1.20 billion. Aggregate sports betting totaled $163.2 million.

One tribal operator stopped offering internet gaming in September, thus reducing the amount of Michigan internet gaming operators to 14.

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