Michigan Igaming Operators Banked $248 Million in April, Up 28.6% Year on Year

The online casino sector in Michigan recorded its third-best month ever in April, with $248.1 million in revenue. Amidst sustained expansion, FanDuel overtook BetMGM as the leading platform, bringing in a substantial amount of tax income for the state.

On Tuesday, the Michigan Gaming Control Board announced $248.1 million in gross online casino revenue for April, the third-highest figure in state history.

The total reflects a 28.6% rise over last year, trailing only the record-breaking haul of $260.5 million achieved in March and, by over $40,000, the $248.2 million earned in January. In addition, it was the ninth consecutive month that gross winnings in the Wolverine State exceeded $200 million.

Over $233.1 million in adjusted gross revenue was taxable, bringing $48.2 million into state coffers. The city of Detroit earned $12.6 million in revenues, while tribal jurisdictions offering iGaming received a total of $5.6 million in disbursements.

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Relentless Growth Continues

Since the first full-month comparisons were possible in February 2022, operator wins have grown by at least 13.8% each month when comparing month-over-month revenue growth. Winnings increased by at least 25% in April for the sixth time in the past 12 months; at that period, the rise in dollars ranged from $32.2 million in June to $66.3 million in January.

Gross sales so far this year have increased 25.9% over the first four months of 2024, falling just $20.7 million short of $1 billion. As a result of all but one operator being permitted to deduct just 6% of promotional expenditures, as opposed to 10% during the first four years of operation, adjusted gross revenue increased by 31.3% to $921.4 million.

The Fanduel-betmgm Rivalry Rages on

The battle between FanDuel and BetMGM for the top revenue place among Michigan’s 15 online casino providers shifted back to FanDuel in April. Its gross sales of $67.6 million was up 33.2% from last year, trailing only the prior month’s $68.1 million.

After beating FanDuel by over $852,000 in March, BetMGM dropped to second place with a still-healthy $64.9 million. That was a 30.4% increase year over year, and BetMGM leads by $373,575 in revenue for the first four months of the year. By 2025, both operators had won more than $260 million.

Courtesy: https://igamingexpert.com/, https://www.igbnorthamerica.com/, https://gamingamerica.com/news/