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Published in Economic Development

Michigan internet gaming, sports betting ‘off to a good start’ with first revenue data

BY Wednesday, February 17, 2021 11:28am

Internet gaming and sports betting operators in Michigan reported $42.7 million in gross revenue for the 10-day period after Jan. 22 when several platforms went live.

The Michigan Gaming Control Board (MGCB) released the initial numbers this morning that showed operators across the state handling $115.2 million in sports bets, which led to $13.3 million in revenue.

MGCB Executive Director Richard Kalm COURTESY PHOTO

For online gaming, statewide operators generated $29.4 million.

“Internet gaming operators are off to a good start in Michigan,” MGCB Executive Director Richard Kalm said in a statement. “The taxes and payments from online gaming will provide funding for K-12 students, the city of Detroit and Michigan tribal communities.”

The revenue totals led to roughly $4.4 million in taxes and payments to the state, which included $4.3 million from internet gaming and $111,696 from online sports betting.

Ten operators launched their service offerings on Jan. 22 when online gaming and internet sports gambling went live. Online poker came online Jan. 29, contributing slightly to the 10-day totals.

Since then, additional operators have rolled out an online offering, including Four Winds Casino, which just recently launched its self-branded online gaming and sports betting platform.

According to the MGCB, FanDuel — which partnered with MotorCity Casino Hotel in Detroit — was a leader in sports betting, accepting $32.6 million bets. It was followed by DraftKings (Bay Mills Resort & Casino), which handled $28.2 million in sports wagers. 

BetMGM, which is partnered with MGM Grand Detroit, was a leader in internet gaming with $11.1 million in adjusted gross revenue.

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