Michigans digital gaming providers brought in a total of $275.1 million in income during March, setting a new high for 2024 so far.
Michigans sports wagering and online gambling operators collectively generated $257.1 million in revenue in March, a 17.7% increase from February’s $218.5 million and a 12.0% rise from January’s $229.6 million. The state’s March revenue also climbed 18.8% compared to the same period last year.
Michigan launched online gambling in January 2021, and March was the state’s busiest month for digital gaming. Online gambling revenue reached $215.5 million in March, surpassing the prior record of $188 million in February.
Meanwhile, sports betting contributed $41.9 million to the month’s total revenue in March, a 37.4% increase from $30.5 million in February. Additionally, total online sports betting activity in March rose 19.3% from February to $480.4 million.
In March, the adjusted gross revenue (AGR) for online gambling and online sports betting totaled $221.1 million. Online gambling accounted for $194.5 million of the total, a 14.9% increase from February, while online sports betting operators generated $26.7 million, more than double the $12.9 million from the previous month.
While online gambling AGR increased 25.8% year-over-year in March, sports betting AGR declined 15.2% year-over-year.
Michigans internet betting earnings reached a peak of $2.3 billion in 2023, but based on current patterns, the state is anticipated to surpass that figure by roughly $500 million in 2024.
Michigans online gambling operators have already gathered $705.2 million in earnings so far this year, and the state is on course to exceed $2.8 billion in revenue in 2024.
Michigan is profiting from the achievement of its online gambling, with operators reporting $41.1 million in taxes and payments to the state in March.
Earlier this month, Detroit’s three commercial casinos reported $123.9 million in revenue for March. This represents a 3.9% increase from the same period last year.
March’s revenue figures were 18.5% higher than February, with $122.3 million coming from slot machines and table games.
March’s retail sports betting Qualified Adjusted Gross Revenue (QAGR) was only $1.6 million, although this was a 13.2% increase from the same period last year.
MGM Grand Detroit led the three commercial casinos with a 46.0% market share in March. MotorCity Detroit came in second with a 31.0% market share, while Greektown Casino-Hotel had a 23.0% share.
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