Michigan Online Casinos Down In February But Still Up For 2023
Michigan online casinos experienced a slight revenue decline in February, generating only $148.2 million.
The Wolverine State is another victim of the February slump. Other US states, like New Jersey, have experienced similar revenue declines. However, the $148 million generated in February is good enough for the third-highest total in Michigan online casino history.
Although revenue dropped almost 9% from January to February, it’s still a 20.7% increase from February 2022’s total of $122.8 million.
Michigan online casinos February 2023 revenue
According to data from the Michigan Gaming Control Board (MGCB), Michigan’s online gaming gross receipts were $148.17 million. As a whole, Michigan commercial and tribal operators combined to generate $170.83 millio n in February.
- Online casino revenue: $148.2 million, down 3.6% from December
- February online casino tax revenue: $26.3 million to the state and $10 million to local entities
- Top online casino operator by revenue: BetMGM Casino with $48.4 million
BetMGM is still top dog in Michigan
Although BetMGM remains the top operator in the state, the $48 million generated in February was the lowest the operator has recorded since September. The quiet month also snaps a four-month streak of over $50 million in revenue.
BetMGM aside, there were some positive notes for other online gaming operators. FanDuel and DraftKings managed to generate record-setting revenue totals for the month.
- FanDuel Casino posted $29.5 million in revenue; its previous record was $28.95 million in December 2022.
- DraftKings Casino outdid January’s record-setting month of $26.2 million by generating $26.9 million in February.
Overall, six total operators had revenue growth from January to February.
- Play Eagle
Michigan sports betting dips in February
As for Michigan sports betting, it also took a noticeable drop in month-to-month and year-over-year handle in February.
Sports betting operators recorded $357.2 million in handle for February, a 27.2% drop from January and a 15.7% drop from February 2022.
- Handle: $357.2 million ($344.9 million online)
- Revenue: $23.1 million ($22.7 million online)
- Month-over-month: Handle down 27.2%
- February sports betting tax revenue: $1.8 million to the state and $358,728 to local entities.
- Top online sports betting operator by handle: FanDuel Sportsbook with $122.7 million
- Top online sports betting operator by revenue: FanDuel Sportsbook with $13.9 million