Michigan’s online gaming operators generated $111.9 million in revenue during July, according to a report issued by the Michigan Gaming Commission Monday. Of the total, igaming accounted for $92.3 million while sports betting contributed $19.6 million with a handle of $188 million.
Overall, internet gaming adjusted gross receipts in July increased 25.6 percent month-over-month. The increase is due in part to June receipts being reduced by MGM Grand Detroit’s first free play deduction since launch in January. Online sports betting and igaming launched in Michigan near of the end of January 2021 and there are an estimated 14 operators in the state.
BetMGM led in igaming revenue, with $33.8 million, a 37% market share. FanDuel’s market share of 16% was next, generating $14.4 million in revenue. Other notable revenue generators were DraftKings at $15.2m (16%); BetRivers, $6.8m (7%); Golden Nugget, $5.3m (6%); FoxBET, $3.1m (3%); and PENN/Barstool, $2.7m (3%).
Four operators accounted for 87% of the online sports betting handle. FanDuel’s $54.5 million and DraftKings’ $53.4 million each equaled 29% of the market share. BetMGM’s handle was $41.9 million, or 22%, and Barstool Sports/Penn National bringing in $13.6 million.
Igaming brought $17.1 million in tax revenue for the state while sports betting added another $762k.
“Sequentially, igaming win/day was stable at $2.98 million (win/day has averaged $3.05 million since launch) and market shares were mostly unchanged,” wrote J. P. Morgan analyst Joseph Greff in an analyst’s statement. “Online sports betting GGR win/day decreased 24% month over month, with market shares relatively stable.”
