Michigan online gaming revenue suffered an 8.7% drop in April 2024, sports betting and igaming operators reported.
The figure of $234.8Million was just under 9% less than what was generated in March. In fact, the total of $257.1m which was reported is the highest that has been recorded this year.
Despite April’s decline, the revenue total still beat January and February, which produced $229.6m and $218.5m respectively. Furthermore, year-on-year April revenue was an impressive 20% more than in 2023.
In April 2023, Michigan sports betting and iGaming operators reported revenues of $195.7m. When looking solely at iGaming for this year, revenue fell from $215.5m in March to $192.9m in April.
Similarly, Michigan’s sports betting handle also endured a steep drop. Operators in the Great Lake State confirmed that they took $399.1m in bets in April. This was down from $480.4m in March.
Michigan Online Gaming Revenue
Nonetheless, the sports betting revenue in April was relatively stable at $41.9m. When taking into account monthly adjusted gross receipts (AGR), sports betting and iGaming combined for a total of $201.9m.
Online sports betting generated $27.8m with iGaming responsible for the remaining $174.1m. The AGR for sports betting increased $4.1m compared to March 2024. IGaming’s AGR dropped by 10.4% for the same period.
In terms of year-on-year, sports betting AGR increased by 13.2% with iGaming also seeing an impressive increase of 21.4%. Monthly taxes paid to the state of Michigan were $37.6m in April.
Compared to March’s figure of $41.1m, this was down by 8.5%. Online sports betting contributed $1.8m with iGaming responsible for $35.8m.
Earlier this month, Detroit’s three land-based casinos reported revenues of $109.44m for April 2024. However, that figure was down 11.7% month-on-month. In terms of year-on-year, $109.7m was reported so there was a very slight increase.
The three casinos paid the city of Detroit $9.8m in taxes and municipal services fees during April.
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