Third Consecutive Month of Decline of the Michigan Gambling Revenue
In June, Michigan’s online gambling income was $136.9 million, up from the previous year but down for the third month in a row.
Commercial and tribal operators’ gross MI online gambling and sports betting revenues increased by 19.9% from $114.2 million in June 2021 but fell by 14.9% from $160.9 million in May of this year.
Gross revenue from online gambling increased 36.2% from the previous year to $121.5 million. Despite a 14.8% year-over-year rise in handling to $270.0 million, sports betting gross profits came to $15.4 million, a decrease of 38.4% from the previous year.
A total of $114.4 million in adjusted gross receipts–which take promotional expenses into account–were generated by sports betting, $109.4 million came from online gaming, and $5.0 mil from sports betting.
The State of Michigan received $22.8 million in taxes and payments from licensed operators in June, including $328,954 in sports betting taxes and fees and $22.5 million in iGaming taxes and fees.
The Michigan Gaming Control Board (MGCB) also reported that total adjusted gross revenues from internet gambling totaled $681.7 million, with total adjusted gross receipts from online sports betting coming in at $74.1 million. The three commercial casinos in Detroit, Michigan, earned $98.6 million in total revenue in June, an 8.8% decrease from the same month last year.
The MGM Grand Detroit, MotorCity Casino, and Penn National’s Hollywood Casino in Greektown reported lower revenue in June than in May this year, falling by 9.3% from $108.7 million to $108.1 million.