iGaming and Sports Betting Operators in MI Claim Revenue of $218.5 Million for February
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In February, Michigan’s commercial and tribal operators reported gross earnings from sports betting and online gambling (iGaming) totaling $218.5 million. In January, gross revenues were 4.8% lower than in February. Find the full report in the MGCB’s monthly report.
Monthly Gross Receipts
The February gross revenue from online casinos in Michigan reached $188.0 million. $181.9 million, which was reported last month, was the previous high. $30.5 million was the total gross earnings from sports betting in February. Gross revenues from sports betting reached $47.7 million last month.
Monthly Adjusted Gross Receipts
The combined adjusted gross receipts (AGR) for online sports betting and iGaming in February reached $182.1 million, comprising $169.2 million from iGaming and $12.9 million from online sports betting. This represents a 31.3% decline in sports betting and a 3.1% increase in iGaming from January 2024. Sports betting had a 52.7% increase and iGaming saw an increase of 27.0% in income when compared to February 2023 reported revenues.
Monthly Handle
With a total handle of $402.6 million, online sports betting saw a 30.3% decrease from the $577.4 million handle saw in January 2024.
Monthly State Taxes and Payments
The operators said that in February, they paid the State of Michigan $34.7 million in taxes and other fees, comprising:
- iGaming taxes and fees: $33.8 million;
- Internet sports betting taxes and fees: $922,324.
In February, the three casinos in Detroit claimed that they had paid the City of Detroit $9.3 million in wagering taxes and municipal services fees:
- iGaming taxes and fees: $8.9 million;
- Internet sports betting taxes and fees: $356,663.
