Michigan iGaming revenue results in for July

The Wolverine State officially launched online gaming and betting on December 20, 2019, becoming one of the first states to do so following the repeal of PASPA, a piece of federal law that prohibited states to decide whether sports betting can be legal on their own. Now, though, both iGaming and online sports betting have been the talk of the town with interest in the segments increasing.

And, if Michigan’s July iGaming results are any indicator, there is still a huge economic windfall to be realized from both verticals. Commercial and tribal operators in the state reported a combined $148.2m in combined internet gaming receipts and gross internet sports betting receipts, based on information released by the Michigan Gaming Control Board.

iGaming remained the leading force here with receipts generated by the activity reaching $126.6m last month, up 4.2% from the numbers reported in June when the Wolverine State collected $121.5m. Sports betting receipts also inched up, with the total reaching $21.6m compared to $15.4m in June. This number constituted a 40% increase.

Out of the combined total adjusted amount, $131.2m came from internet gaming and betting. Some $117m were generated through iGaming whereas the other $14m came from interactive sports betting. The total sports betting handle placed throughout June was down 23.7% from June when bettors wagered a total of $270m compared to $206.1m for the month of July.

Meanwhile, the state reported internet gaming taxes and fees of $24.1m and another $815,409 in sports betting taxes and fees. Interactive gaming has once again been the stronger of the two segments, usually generating substantially more for the state in terms of net contributions to the coffers. Tribal operators made $2.7m contributions to governing bodies, the MGCB noted in the press release.

For the first seven months of the year, the regulator reported total sports wagering adjusted gross receipts of $88.1m. The amount registered for adjusted gross receipts from iGaming expectedly stood much higher at $798.9m. The MGCB also offered a detailed breakdown of each casino and the results it has been able to achieve.

In Detroit, the total city wagering tax as of the end of July 31 stood at $88.39m. MGM Grand Detroit continues to draw the biggest action with nearly $350m in total adjusted revenue for the first seven months of the year.

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