Michigan’s online casinos, after enjoying two months of consecutive growth, faced a slight setback in August 2023. The gross revenue dipped from $153.6 million in July to $152.2 million in August, as reported by the Michigan Gaming Control Board (MGCB).
Monthly Revenue Analysis
The 0.9% decrease from July to August marks the fourth time this year that Michigan’s online gambling revenue has experienced a monthly decline. However, the silver lining remains: the cumulative revenue for the year has already crossed a staggering $1.2 billion.
Major Contributors to the State’s Revenue
In August, five key license holders contributed to approximately 80% of the state’s total online casino revenue. These power players include:
- MGM Grand Detroit
- Motor City Casino
- Bay Mills Indian Community
- Little River Band of Ottawa Indians
- Keweenaw Bay Indian Community
Among these, MGM Grand Detroit and Bay Mills witnessed a decline, while the other three showcased growth.
Spotlight on MGM Grand Detroit’s Performance
A significant chunk of the state’s overall dip in online gambling revenue for August can be attributed to MGM Grand Detroit. Their revenue saw a drop from just under $50 million in July to $44.0 million in August.
Detailed Revenue Breakdown for August 2023
- MGM Grand Detroit: $44,038,643.70
- Motor City Casino: $33,198,638.20
- Bay Mills Indian Community: $28,185,067.13
- Little River Band of Ottawa Indians: $10,541,446.44
- Keweenaw Bay Indian Community: $7,220,530.25
Yearly Performance Analysis
Despite the occasional hiccups, Michigan’s online casinos have consistently maintained a gross revenue of over $150 million since January. March 2023 was particularly noteworthy, registering the highest growth at 15.9% and a revenue of $171.8 million.
Looking Ahead: 2023’s Potential
While the industry has faced challenges in sustaining a positive monthly growth rate, 2023 is shaping up to be a record-breaking year for Michigan’s online gambling sector. For the first time, the monthly gross revenue crossed the $150 million threshold. If this momentum persists, the state’s online casinos might outdo last year’s total revenue by an impressive $200 million.
Sports Betting: An Added Boost
On the sports betting front, Michigan saw a revenue increase from $25.5 million in July to $23.2 million in August. This brings the combined revenue from online casinos and sports betting in Michigan for August to $175.4 million, marking a 0.4% decrease from July.
