Michigan’s May Online Gambling Revenue Falls to $185M, MGM on Top

Article ByDavid Weir

June 22, 2023

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Posted in: Michigan Gambling News, US Casino News, US Gambling News

Michigan’s total online gambling revenue for May 2023 was $185.8 million, as shown by the latest monthly figures released this week from the Michigan Gaming Control Board.

That’s down 5% on April’s $197 million figure, which makes it the second month in a row this year of declining revenues.

However, it is up 15.5% on the $160.9 million the state’s online operators made in May 2022.

The lion’s share of that revenue was down to online casino games at $150.6 million. Online sports bettors pulled in $35.2 million, which is 5% higher than last year.

The May figures for Michigan’s three land-based casinos, all in Detroit, were also released last week. They brought in $105.6 million between them across the month, for a total gambling sector revenue of $291.4 million. MGM Grand Detroit (pictured) hit its fourth consecutive $50 million month in the top spot.

Related: The best online casinos in Michigan, expertly rated

Sports Betting Down but Still Strong

The summer months are typically the quietest time for American sports betting. After a bumper March in which the Wolverine State’s operators set record revenues, things were always going to quiet down in the middle of the year.

But the question is, are they doing better than this time last year?

“No” is the answer. Overall sports betting handle was $288.3 million for the month, which is down on April’s figure. And also down 15% on last year.

However, sportsbooks have been improving their hold. Revenues were up 5% on May 2022 despite the overall handle being down.

Ranking the Competition

The most popular operator among Michigan players, if you can directly extrapolate that from revenue figures, is MGM.

MGM Grand Detroit easily retained top spot among the Detroit casinos. It also topped more than $50 million in income for the fourth month in a row.

The Las Vegas based operators’ online casino arm, BetMGM, was also the top dog in its field with $47.4 million in revenues.

FanDuel online casino, partnered with MotorCity, came in a distant second with $30 million. Just behind them was perennial rival DraftKings, partnered with Bay Mills, at $27 million.

BetRivers and Golden Nugget filled out the list. Partnered with the Little River Band of Ottawa and Keweenaw Bay, respectively, they pulled in less than $10 million each.

In sports betting, FanDuel took the top spot in overall handle with $104.9 million. Just behind them was DraftKings at $78 million. BetMGM came in a distant third at $50.4 million.

However, sports betting still makes up a small percentage of Michigan’s gaming market, compared to online and physical casinos. So veteran operator MGM came out on top of overall revenues, even with stiff competition from the two upstarts.

Tax Affairs

Michigan’s state coffers benefited by $29.4 million in tax revenue from online operators. The majority of that ($28 million, or about 95%) came from online casinos.

The three Detroit casinos, MGM, MotorCity, and Hollywood at Greektown, paid $7.6 million in taxes and development agreements between them.

The state’s tribal gaming operators also paid $3.4 million in various taxes and agreements. That makes a total of $11 million for retail venues.

Add that to the online operator’s bill for a total of $40.4 million paid in taxes by Michigan operators in May.