Operators of Online Casinos and Sportsbooks in Michigan Disclose Combined February Gross Revenue of $170.83 Million
According to a report by the Michigan Gaming Control Board (MGCB), online casino and sportsbook operators’ gross revenue was $170.83 million in February according to Michigan tribal and commercial operators. Compared to January’s results of $187.33 million, revenue went down by 8.8%. You can find detailed revenue breakdowns and wagering tax information by the MGCB at their official website.
Gross sports wagering revenues decreased by 32.6% to $22.66 million from $33.64 million in January.
Online gaming and sportsbooks together generated adjusted gross revenue of $141.73 million, a 9.2% decrease from the $156.17 million in January.
Adjusted gross revenues from online gaming were $133.28 million, a 3.7% decrease from $138.32 million in January. The monthly adjusted gross revenue from online gaming was $20.6% higher than the adjusted gross revenue of $110.56 million in February 2022.
Online sportsbook adjusted gross revenues were $8.45 million overall for commercial and tribal operators. From the sum of $17.85 million in January, this represented a 52.6% decrease. Compared to the $3.95 million loss reported in February 2022, adjusted gross revenue from online sportsbooks climbed by $12.4 million.
Online gaming adjusted gross revenue for January and February 2023 was $271.6 million, while online sportsbooks adjusted gross revenue was $26.3 million. In the first two months of 2022, operators in Michigan reported adjusted gross revenues from online gaming of $219.7 million and $15.2 million from online sportsbooks.
The overall handling of $344.9 million was down 27.5% from the $475.6 million total handle in January 2023. From the $398.4 million handle recorded in February 2022, the overall handle was down 13.4%.