Lawmakers in Michigan have been working hard to expand the state’s gambling industry in recent years. It’s been successful and online gambling is now available throughout the state. New reports have surfaced claiming online gaming revenue in Michigan has just hit a new all-time high.
It’s exciting news for the gaming companies based here. Now is a great time to talk about how things might evolve here in the future. We’ll also discuss what other states are working to expand their gaming industries.
Let’s get into it!
Reports on Online Gaming Revenue in Michigan are Out
Michigan is known for having a large, successful gambling industry. Residents here love to debate what exactly are the best casinos operating in the state right now. Back in 2019, lawmakers approved a measure to formally legalize internet casinos.
This week, reports on online gaming revenue in Michigan for the month of August were released. Some were surprised to see that these revenue figures hit an all-time high. Revenue here increased by 5.3% when compared to July to $97.2 million.
$17.9 million was given to the state in the form of taxes. $4.9 million went directly to the city of Detriot. It seems that live dealer games were the most popular. These are table games live-streamed with a real dealer who collects wagers.
MGM Grand Detriot was the most successful gaming platform in the state. This platform managed to bring in $39,721,259 in total gross gaming revenue. Motorcity’s FanDuel platform came next with $14,228,809 million.
It seems likely that internet gambling revenue here will continue to increase as the year goes on. Stay tuned for more revenue updates over the next few months.
Michigan’s Sports Betting Handle Increased in August
Michigan allows more than just casino gambling. Back in March of 2020, the first regulated sportsbooks officially went live here. Two Detroit-based casinos launched their first sportsbooks, helping to draw in a huge number of local sports fans.
It now seems that August was a semi-successful month for this industry. The total sports betting handle came out to $208.6 million. That represents a slight increase when compared to July.
Sports betting revenue didn’t increase, though. The online sports betting operators here brought in $17.5 million over August. To the surprise of some analysts, this represents a more than 15% decrease when compared to July. Nearly $680,000 went to the state in taxes.
September is expected to be the most successful month of the year for the US sports betting industry. It was this month that the 2021/2022 NFL season kicked off. Tens of millions of dollars have already been placed on the first set of games this season.
More states are beginning to release their gaming revenue reports. Here’s a look at how much money other gaming destinations are bringing in right now.
States Report Casino Revenue Drops Over the Month of August
Historically speaking, August is a good month for the US casino industry. Casino revenue has been steadily increasing around the US over the past few months. Some experts predicted that gaming revenue would decline this August, though.
Cases of Covid-19 have been steadily increasing around the country. As a result, many are second-guessing their travel plans. Some casino hubs have been reporting slight drops in their tourism rates.
Massachusetts recently reported a large drop in casino revenue this August. The Encore Boston Harbor managed to bring in the most revenue. Plainridge Park saw the lowest revenue figures, yet the owners are now working hard to receive permission to offer more games to their patrons.
Louisiana and West Virginia also reported drops in their casino revenue figures. It remains to be seen how some of the larger gaming hubs around the country brought in last month. Stay tuned for updates!
Are you surprised to see the reports on online gaming revenue in Michigan? How much revenue do you expect casinos to bring in this September? Let us know in the comments section below.