WynnBet Online Casino Reached a Low Point in Revenue and Market Share
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WynnBet must examine Michigan’s monthly revenue statistics extremely carefully. Earlier in August, the operator announced intentions to shut down operations in eight states. Additionally, it reviewed its activities in Michigan. Because of this evaluation, each monthly income report from the Great Lakes State’s online casinos is given a closer look in deciding whether or not to remain in the state.
What do the July revenue statistics mean for WynnBet?
July Saw the Lowest Revenue for WynnBet Casino MI
For WynnBet Casino MI, the numbers weren’t spectacular in July. The online affiliate of Kewadin Casinos reported $3.9 million in revenue in July, which is $700,000 less than the year before.
The casino’s state market share fell to only 2.5% as a consequence, which was also a record low for 2023. Unexpectedly, WynnBet Sportsbook MI reported $228,484 as its biggest online sports betting income for 2023. That amounted to 1% of the market share for the month.
The position that WynnBet Casino has had during Michigan’s entire history of online casino income has been rather stable. WynnBet has had 3.6% of the industry’s lifetime market share since January 2021.
Although WynnBet had a bad month in July, the same thing happened in July of last year. Revenue for July 2022 was $3.9 million, the lowest revenue for the year at that time.
WynnBet saw revenue of $34.1 million from online casinos so far in 2023. That is an increase of 7.3% over the previous seven-month period in 2022 ($31.8 million).
