June stumble for Michigan iGaming market
The 13 licensed online casino and sportsbetting operators in the American state of Michigan saw their aggregated gross gaming revenues for June decrease by a little less than one percent month-on-month to hit $114.2 million.
According to an official Monday press release from the Michigan Gaming Control Board regulator, online casino operators in the Midwestern state chalked up aggregated June gross gaming revenues of $89.2 million, which represented a decline of 6% month-on-month, although associated sportsbetting receipts grew by some 28% to top $25 million.
The Michigan Gaming Control Board moreover explained that aggregated June iGaming handle in ‘The Wolverine State’ fell by a little over one percent month-on-month to $235.1 million as the industry’s associated tax contribution dropped by 22% to approximately $14.6 million. The regulator also declared that such payments had been assessed on $66.2 million in ‘adjusted gross receipts’ from the jurisdiction’s online casino sector for $13.7 million alongside $16.8 million from the sportsbetting vertical for $927,575.
Despite the slight June deterioration and the Executive Director for the Michigan Gaming Control Board, Henry Williams, used the press release to state that the figures ‘roughly matched May’ and put the state in the same company as other leading jurisdictions such as New Jersey and Pennsylvania.
Read a statement from Williams…
“Summer is here and Michigan is re-opening after the pandemic restrictions so there are many entertainment opportunities. The slight tenth of a percent decline from May to June shows Internet gaming and online sportsbetting continue to draw Michigan residents’ and visitors’ interest.”
The Michigan Gaming Control Board moreover disclosed that the three large commercial casinos in Detroit, which encompass the MotorCity Casino Hotel, MGM Grand Detroit and Greektown Casino Hotel paid their host city $3.6 million in June wagering taxes and municipal fees connected with their iGaming operations. It detailed that this figure had incorporated $3.1 million in online casino duties in addition to $518,269 in sportsbetting obligations.
The regulator furthermore pronounced that Michigan’s ten licensed tribal iGaming operations reported $1.9 million in June wagering payments made to their various governing bodies. It additionally predicted that this figure is likely to grow after it licensed the FireKeepers Casino Hotel facility from the federally-recognized Nottawaseppi Huron Band of Potawatomi permission to commence full online operations from July 12.
The Michigan Gaming Control Board consequently revealed that the July figures helped to push the state’s annual aggregated gross Internet gaming and sportsbetting revenues up to $476.1 million. The regulator then finished by explaining that the market only went fully live from January 22 with some $435.6 million of this cumulative tally, or in the region of 91%, having come from online casino games.