Michigan iGaming Revenue Soars To Record-Setting $278 Million In October

The Michigan Gaming Control Board reported Tuesday an all-time monthly high of $278.5 million in gross internet casino revenue for October and reclaimed the record for a single-state, single-month adjusted revenue total.

The haul came with seven of the state’s 14 digital platforms setting all-time highs, led by FanDuel Casino’s record-shattering total of nearly $76 million. The overall statewide figure was up 26.2% from last year, when operators also set a new standard of $220.7 million. Michigan established its previous high at $263.3 million in August.

A record gross revenue haul meant a record total for taxable revenue as the state levied its progressive rates on $261.7 million in adjustable gross revenue and re-directed $54.6 million to its coffers. The city of Detroit collected almost $14 million in separate tax receipts, and tribal disbursements totaled $6.5 million — both all-time monthly highs.

New Jersey held the AGR record for barely 24 hours after reporting $260.3 million for October on Monday. Pennsylvania set the record for monthly gross revenue at $291.6 million in March, but large promotional deduction allowances for operators knocked down its AGR to $238.2 million.

A near sweep of all-time highs in Motown

Detroit’s three iGaming casino platforms combined for a record $154.1 million in gross revenue in October. It was the first time the total surpassed $150 million as both FanDuel and Penn National set all-time bests. BetMGM narrowly missed doing likewise as its $68.8 million came $130,803 shy of its all-time high set in March.

FanDuel, however, continues to operate like a finely tuned, Detroit-based muscle car. After becoming the only platform in Michigan to clear $70 million in August, it added the $75 million benchmark as year-over-year revenue climbed 35.2%.

Its $668.4 million in gross revenue for the year is already 8.8% better than its full-year 2024 winnings and 34.5% ahead of the first 10 months of 2024. FanDuel also became the first operator to surpass $70 million in monthly AGR, remitting $14 million on $71.4 million in winnings as the start of the new fiscal year reset everyone’s rates to 20%.

BetMGM’s year-over-year growth was solid at 22.6% in extending its run of months with $60 million-plus winnings to 11. But in finishing second to FanDuel for a fifth consecutive month, the gap in year-to-date revenue between the two titans is now $16.7 million. More than $15.5 million of that spread has come since August.

Penn National, operating through Hollywood Greektown, has found firmer footing in internet casino gaming than through mobile sports betting via ESPN Bet. Penn surpassed $9 million in winnings for the first time as its $9.3 million haul represented a 76% increase from 12 months prior. Its top five revenue totals have all come in the last five months, which included clearing $7.5 million and $8 million for the first time in July and August, respectively.

DraftKings finally finds a groove

Perhaps forever the no. 3 platform in terms of revenue in Michigan, DraftKings set its first new revenue record since April at $44.7 million. That was an 11.8% bump from last October and $2.2 million more than its previous high of $42.5 million.

DraftKings’ year-to-date growth has been sluggish at 6.7% to $396.5 million, though that comparison continues to be dragged down by a progressive jackpot of $9.3 million in February. That payout has put a drag of 2.5 percentage points on its increased revenue compared to 2024.

BetRivers and Fanatics continue rolls

BetRivers showed its first crossing of the $20 million threshold was not a fluke, adding another $486,903 to its record in reaping $20.5 million. It was the sixth month in a row the Rush Street Interactive platform set a monthly high, a run that started with collecting $17.8 million in May.

Fanatics Casino, which has seen some wild month-to-month fluctuations in New Jersey in recent months, continued its unrelenting upward trajectory in the Wolverine State. It also posted a sixth consecutive all-time high at $15.9 million — more than double the $7.8 million reported in January to kick off 2025.

Fanatics has already more than doubled the $52.6 million in revenue it generated with predecessor PointsBet in 2024 at $112.2 million and reached eight figures in six straight months. Caesars Palace was well off its July peak of $17.7 million, but the $15.6 million claimed in October was up 9% compared to last year.

One operator trending in the opposite direction is Golden Nugget, which had its second-lowest revenue haul of 2025 at $8.3 million. That was down 8.5% from last year and marked back-to-back months with declines. Golden Nugget, though, is still past its 2024 revenue total and less than $142,000 shy of $100 million for the year.

BetPARX ($4.7 million) and Bally’s ($3.2 million) rounded out the seven record-setters for October. It was a fourth straight monthly high for betPARX, including a third in a row above $4 million. Bally’s had never crossed $3 million previously, with its old record of $2.5 million set back in March 2024.

The 11 platforms tethered to tribal operators totaled a record $124.4 million in gross revenue. That was up 20.7% from last year as they moved the standard $6.2 million higher from August’s $118.2 million total.