Michigan iGaming Operators Post Record $260.5 Million Haul For March

The Michigan Gaming Control Board reported an all-time monthly high of $260.5 million in gross internet casino revenue for March, which is also the third-highest, all-time total among the seven states offering the gaming vertical.

March is usually a big month for iGaming operators as they can cross-promote their platforms to sports bettors — some of them casual ones — who consider wagering on the NCAA Tournament. It is the fifth time in as many years since the Wolverine State launched online casino in 2021 that revenue figures from March set an all-time high.

The only state ever to report higher gross revenue figures is Pennsylvania, which closed 2024 with $278.7 million in operator winnings and opened this year with $265.4 million.

This year’s figure represented a 21.1% increase from the $215.2 million reported in 2024. It is the seventh month in a row gross winnings surpassed $200 million and eighth time overall. The $731.2 million in revenue for the first quarter of 2025 is almost 25% higher than the opening three months of last year.

The state was able to levy taxes on $246.1 million in adjusted gross revenue, which is a U.S. all-time high that edged New Jersey‘s $243.9 million AGR reported for March. All but one of Michigan’s 15 operators are deducting 6% of promotional spend against gross winnings compared to the 10% in place the previous four years.

That contributed to monthly tax receipts for the state exceeding $50 million for the first time, and the city of Detroit also saw a record inflow of $13.1 million into its coffers. Jurisdictions where iGaming platforms are tethered to tribal operators received close to $6 million in disbursements.

The BetMGM-FanDuel battle continues to rage

FanDuel spent most of 2024 cementing its status as BetMGM‘s chief iGaming rival in Michigan, wresting away the top spot on three occasions. The back-and-forth has intensified as the two are separated by less than $3 million through the first three months of the year, and both operators have crashed through the $60 million barrier each month.

BetMGM reclaimed the top spot in March and furthered its state record with almost $69 million in gross revenue. It was the fourth straight month with at least $60 million for BetMGM, which reported a 26.2% increase in year-over-year winnings.

FanDuel, which was tops in February by about $1.4 million, went down swinging in March with a record haul of its own at $68.1 million, up 18.3% from 12 months prior. FanDuel also has a four-month streak with $60 million or more in revenue but has not held the state record for monthly winnings since March 2024 at $57.6 million.

Dazzling numbers for Detroit-based iGaming operators were also found via Greektown, where PENN Entertainment’s platform also posted an all-time monthly high of $7.3 million. That was a surge 38.9% higher than last year while bettering its previous standard of $6.4 million established in December 2023.

The $144.4 million in gross revenue generated by the Motown trio is an all-time high and 22.9% higher than last March.

Tribal tethers also enjoy banner month

Four of the 12 tribal-tethered iGaming platforms set all-time highs in monthly revenue, though DraftKings was not among them. Long established as the No. 3 revenue generator in Michigan, its $41.1 million in winnings was up only 1.8% compared to last year. Revenue was up 48% from February, though, as no customer last month was able to duplicate a $9.3 million progressive slot payout.

BetRivers crested $17 million for the first time while posting a 35.5% year-over-year increase in revenue. Close behind was Caesars Palace Online, whose $16.8 million haul was $43,972 better than February and a record total for the fourth straight month.

Golden Nugget Online rounded out the quintet of operators with eight-figure revenue totals in March with a record $11.8 million. It was the third time in the last four months Golden Nugget cleared $11 million.

Fanatics Casino is tracking to be the sixth operator to reach that $10 million benchmark, setting an all-time high of $9.2 million. Since succeeding PointsBet in late February 2024, Fanatics has totaled $74.1 million in gross winnings in 13 full months of operation, and the combined revenue of the two platforms surpassed $100 million with March’s numbers.

Revenue from tribal-tethered platforms hit an all-time high of $116.1 million, an 18.9% increase compared to March 2024.