Michigan’s commercial and tribal operators collectively generated $242.5 million in iGaming gross receipts and sports betting gross receipts in December, representing a 15.9% increase compared to November. This figure brings the total online revenue for 2023 to $2.3 billion.
The December surge was driven by iGaming, which reported record gross receipts totaling $181.4 million, surpassing the previous high of $175.3 million in November 2023, according to the latest report from the Michigan Gaming Control Board. Meanwhile, gross sports betting receipts for December totaled $61.1 million, also the highest to date. The previous high was $54.1 million, achieved in November 2021.
In December, iGaming and internet sports betting in Michigan operators reported combined adjusted gross receipts (AGR) of $198.4 million. iGaming surged by 3.5%, reaching $163.3 million, while sports betting experienced a 34.9 million increase compared to November 2023, amounting to $35.1 million in December. On a year-on-year basis, iGaming AGR rose by 18.8%, and sports betting was up by 14.3%.
Michigan also set a new record for the highest internet sports betting handle to date, with $583.0 million in December— a 2.5% increase from the $568.8 million recorded in November. This brought the total annual handle to $4.6 billion.
The State of Michigan saw $36.7 million in taxes and payments from operators in December, with the lion’s share of $34.1 million coming from iGaming. Sports betting contributed $2.6 million in December.
The three casinos in Detroit played a substantial role, paying a total of $9.4 million in Internet gaming taxes and fees to the city. Additionally, tribal operators reported making $4.3 million in payments to governing bodies in December.
Annual overlook
In 2023, Michigan commercial and tribal operators reported a combined $2.3 billion total iGaming gross receipts and gross sports betting receipts, including $1.9 billion from iGaming and $420.4 million from internet sports betting, representing an 18.3% increase over 2022.
Moreover, in 2023, Michigan commercial and tribal operators reported a combined $1.956 billion total in iGaming adjusted gross receipts and adjusted gross sports betting receipts, including $1.733 billion from iGaming and $223.451 million from internet sports betting, an 18.8% increase over 2022.
During the year, Michigan saw $369.8 million in taxes and payments from operators, with the main share of $354.0 million coming from iGaming. Meanwhile, sports betting contributed $15.8 million in the full-year period. The three casinos in Detroit paid a total of $95.8 million in Internet gaming taxes and fees to the city, while tribal operators reported making $43.1 million in payments to governing bodies in 2023.
Original article: https://www.yogonet.com/international/noticias/2024/01/19/70474-michigan-posts-23b-igaming-sports-betting-revenue-in-2023-driven-by-record-december-performance
