Michigan Online Gambling Revenue Soars in August While Sports Betting Drops
Michigan achieved a record iGaming revenue of $97.2m in August — a 5.3% increase compared with the previous months. The MGM Grand Casino got the highest revenue of $39.7m. FanDuel brought $14.2m to Motor City casino, while DraftKings brought $12.6m to the Bay Mills Indian Community.
$17.9m were paid as iGaming taxes to the state — it’s the second-highest total since the launch of Michigan online gambling in January.
As for online betting, revenue figures dropped from $19.6m in July to %15.9m in August, with FanDuel sports bringing $4.8m, DraftKings sportsbook bringing $4.3m, and MGM Grand closing the top three with $3.9m revenue. However, according to Eric Ramsey, an analyst for PlayUSA.com, such a small number of games is just a precursor for the next four months when the football season starts.
The total handle increased by 2.3% from the previous month, up to $192.3. The top three is led by Bay Mills with its $61.4m of the handle. It’s followed by Motor City with $47.7m and MGM Grand with $43.7m.
$540,706 were paid to the state as sports betting taxes.