Michigan Breaks Records in Igaming and Sports Betting Revenue for November
Historic Revenue Milestones Reached
Michigan set unprecedented records in November 2023 for both igaming and online sports betting revenue, according to data from the Michigan Gaming Control Board (MGCB). Gross receipts from these sectors combined reached $284.3 million, reflecting a 35.9% increase from November 2022 and a 12.1% rise from October 2023.
After accounting for promotional deductions, adjusted gross receipts totalled $240.4 million, marking a 51.9% year-on-year increase and a 15.3% month-on-month growth.
Igaming Revenue Hits New High
The igaming sector recorded gross receipts of $226 million, surpassing the previous high of $220.7 million in October 2023 by 2.4%. Compared to November 2022, this represents a 28.9% increase. Adjusted igaming revenue also reached $203.3 million, rising 28.8% year-on-year.
Market leaders included:
- BetMGM and MGM Grand Detroit: $59.7 million in gross receipts and $53.7 million in adjusted receipts.
- FanDuel and MotorCity Casino: $57.0 million in gross receipts and $51.3 million in adjusted revenue.
- DraftKings and Bay Mills Indian Community: Third place in revenue rankings.
Online Sports Betting Sees Record Wagers
Michigan’s online sports betting handle surged to a record $650.2 million in November, surpassing the previous high of $613.4 million set in December 2022. Gross receipts from sports betting reached $58.3 million, a 72.0% year-on-year increase, while adjusted receipts grew by an impressive 264.8% month-on-month, reaching $37.1 million.
Key players in sports betting included:
- FanDuel and MotorCity Casino: $22.1 million in gross receipts from $245.6 million wagered.
- DraftKings and Bay Mills Indian Community: Secured the second-highest market share.
- BetMGM and MGM Grand Detroit: Rounded out the top three.
Tax Contributions and Community Payments
Gaming operators contributed $44.4 million in taxes and payments for November, including $42.5 million in igaming taxes and $1.9 million from sports betting. Tribal operators added $5.2 million to local governing bodies.
Land-Based Casino Performance Improves
Detroit’s three commercial casinos generated $108.4 million in revenue in November, a 37.0% increase from the previous year, following operational disruptions due to strikes earlier in the month.
- Table games and slots accounted for $106.4 million.
- Retail sports betting revenue totalled $1.91 million.
Market shares were led by:
- MGM Grand Detroit: 46%.
- MotorCity Casino: 31%.
- Hollywood Casino at Greektown: 23%.
In total, the casinos paid $8.6 million in state gaming taxes and $13.2 million to Detroit in wagering taxes and development payments.