Michigan Re-Breaks Online Casino Record In November, BetMGM Back On Top
The state’s 15 online casino operators hauled in total revenue of $226 million, and sports betting handle spiked too
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Another month, another record-breaking revenue haul for Michigan’s online casinos.
November saw just a shade under $226 million in gross receipts, according to numbers released by the Michigan Gaming Control Board Tuesday, breaking the short-lived record set in October, when the operators brought in $220.7 million.
The adjusted gross receipt (after promo deduction) haul was also record setting, at $203.3 million.
The 15 iCasino operators in Michigan ponied up $42.4 million to the state in internet gaming taxes in November, and an additional $10.6 million in taxes to the city of Detroit. Another $5.2 million went to tribal governing bodies.
The battle for supremacy atop the iCasino leaderboard flipped back to BetMGM in November, with the company bringing in $59.7 million in gross receipts for the month. FanDuel, which had the top spot the prior month by a mere $10,000, fell back to second with $57 million.
DraftKings finished a respectable third, with $41.6 million in gross receipts.
Those three iCasino properties accounted for 70% of the month’s take, leaving scraps for the remaining 12 operators.
Fourth place belonged to BetRivers at $14.3 million, with Caesars taking fifth place at a hair below $14 million. This was the reverse of the previous month’s rankings.
In sixth place was Golden Nugget, at $9.4 million, followed by Fanatics at $7.1 million, ESPN Bet at $5.5 million, Four Winds at $3.9 million, Horseshoe at $2.9 million, Soaring Eagle at $2.8 million, PokerStars at $2.7 million, BetPARX at $2.6 million, Firekeepers at $1.8 million, and SI at $588,181.
Through 11 months, Michigan’s iCasinos have brought in nearly $2.2 billion in revenue, blowing by 2023’s number and setting a yearly record with one month still to go.
Lions bump?
The Detroit Lions, despite a tough loss to the Buffalo Bills on Sunday, have been the toast of the NFL this season.
Perhaps that can help explain the whopping $650.2 million online sports betting handle for the state’s 12 mobile operators in November. That number was almost $90 million higher than October’s $560.4 million.
The sportsbooks also brought in $58.2 million in gross receipts for the month — a 9% hold — after seeing an October that yielded a “mere” $33 million (at a 5.8% hold).
FanDuel Sportsbook paced the field yet again, with handle of $245.6 million. DraftKings came in second at $182.8 million.
BetMGM finished in third place at $93.8 million, which means the top three operators accounted for a staggering 80.3% of the market.
