Michigan: IGaming And Sports Betting Revenues Reach $190M In October

Michigan: IGaming And Sports Betting Revenues Reach $190M In October

The Michigan Gaming Control Board announced Thursday the state’s commercial and tribal operators reported combined total gross receipts and gross sports betting receipts of $190.2 million for October, which shows an increase of 7.7% compared to September results of $176.5 million.

Internet gaming gross receipts for October set a Michigan record of $141 million. The previous internet monthly record of $132.4 million was set in April 2022. Internet gaming rose 9.5% compared to the previous month. Meanwhile, gross sports betting receipts were $49.2 million, showing a 2.9% increase in contrast with September’s $478 million.

Combined total adjusted internet gaming and sports betting receipts were $158.5 million, including $126.7 million from online gaming and $31.8 million from online sports betting.

Monthly iGaming adjusted gross receipts were up $10.9 million or 9.4%, and online sports betting adjusted gross receipts increased by $4.6 million or 16.9% compared with September results. Compared with October 2021, they jumped 28% or $27.7 million and 577.9% or $27.1 million year-over-year, respectively.

Total internet sports betting handle at $480.8 million rose 31.9% compared to September’s handle of $364.5 million. The state operators submitted $28.2 million in taxes and payments to the state of Michigan in September.

Detroit’s three casinos The three Detroit casinos reported paying the city of Detroit $7.8 million in wagering taxes and municipal services fees during October, including internet gaming taxes and fees of $6.9 million, and internet sports betting taxes and fees of $852,875.

Tribal operators reported making $3 million in payments to governing bodies. During the first 10 months of 2022, aggregate internet gaming adjusted gross receipts totaled $1.2 billion, and aggregate internet sports betting adjusted gross receipts were $163.2 million.

During September, one tribal operator ceased offering internet gaming, reducing the number of internet gaming operators to 14. A total of 15 commercial and tribal operators offered internet sports betting.