Michigan online casinos hit record high in November due to strike
Michigan's online casinos may have benefited from last month's strike by casino workers in Detroit.
The Michigan Gaming Control Board (MGCB) reported that online casino revenue totaled $175.3 million in November. This is the highest monthly revenue for an internet gambling platform in the state since gambling began in January 2021.
November surpassed the state’s previous best iGaming month record of $171.8 million set in March 2023. Online sports betting added $33.9 million last month, bringing total Internet gaming revenue to $209.2 million.
March 2023 remains the best month for online gaming in Michigan history, with sportsbooks winning $44.5 million from bettors that month, for a total winnings of approximately $216.3 million.
Overall, November was a strong month for iGaming. New Jersey, one of six other U.S. states that regulates online slots and table games, saw internet casino revenue hit a record $171.5 million. In Pennsylvania, another iGaming jurisdiction, online casino revenue totaled $158 million.
Business and Tribal iGaming, Sports Betting
Michigan allows Detroit's three commercial casinos and their gaming tribes to work with third-party partners to promote remote casino gaming and online sports betting.
BetMGM, the online casino and sports betting partner of the MGM Grand in Detroit, continues to lead the iGaming market in Michigan. BetMGM won $46.7 million through its online casino last month. MotorCity’s iGaming partner FanDuel ranked second with $43.9 million.
Bay Mills Indian Community owns and operates Bay Mills Resort & Casino and Kings Club Casino, and partners with DraftKings for iGaming and sports betting. DraftKings led the tribal online space last month, earning about $34.7 million from its casino platform. DraftKings Sportsbook won $10.6 million on more than $151.8 million worth of bets.
When it comes to commercial online sports betting, FanDuel is the dominant player. Internet oddsmaker FanDuel won $9.7 million on $213 million in bets. DraftKings came in second, with net profits of $4.5 million and a holding of $77.8 million.
Penn Entertainment's new brand ESPN Bet Online Sportsbook reported $6 million in total wagering revenue and $49.9 million in wagers under its operating agreement with Greektown. Penn offered a slew of incentives to celebrate the launch of ESPN Bet, and after writing off those promotional bets, the sportsbook reported an adjusted loss of $10 million.
In 11 months, Michigan bookmakers accepted more than $4 billion in sports bets over the Internet. They retained a stake worth $359.2 million. Online casinos have collectively won more than $1.7 billion in winnings from players who played on computers and mobile devices.
Detroit casino crumbling
While November is a good month online, that's not the case due to strikes by workers at Detroit's three commercial casinos. The MGM Grand, MotorCity and Greentown, along with their brick-and-mortar slot machines and table games, generated just $76 million in gross gaming revenue (GGR).
November retail results were down nearly 24% compared to November 2022, with sales down more than $23.9 million. MGM brought in $30.6 million, down 34%, MotorCity brought in $24.7 million, down 18%, and Greektown brought in $20.7 million, down 18%, down 11%.
The casinos and the Unite Here Local 24 union reached new collective bargaining terms on November 17, restoring full operations at each casino. Union leaders urged players not to visit commercial iGaming sites during the strike. But according to financial reports, this policy has not resonated with consumers.
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Source: www.casino.org
