February Brings Record iGaming Revenue in Michigan
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The record internet gaming gross receipts were reported in Michigan in February. Total figures (internet gaming plus online betting) are down, though.
Michigan iGaming and online betting operators received $145.28 in total gross receipts in February, 6.8% lower when compared with the previous month, but 62.9% up year-on-year.
iGaming gross receipts showed record figures of $122.78m. Online sports betting gross receipts amounted to $22.5m, 35.2% lower than in January, but up 136.7% year-on-year.
The total handle in February dropped by 19.8% to $398.4m — still 32% higher year-on-year.
The state of Michigan received $22m in taxes and fees from the operators, while the city of Detroit received $6.2m in taxes and fees from the three local casinos — MGM Grand Detroit, MotorCity, and Greektown.
When compared year-on-year, monthly iGaming adjusted gross receipts were up 47% and online sports betting adjusted gross receipts increased by 63.4%.
