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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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 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/
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