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New igaming revenue record in Michigan amid sports betting slump

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Igaming operators in Michigan, US, combined to set a new record for online casino revenue in October.

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The latest figure of US$220.7m beat the previous best of $215.2m, set in March this year, by 2.6 per cent.

Month-on-month, igaming revenue was up 8.9 per cent on September’s $202.6m.

As for mobile sports betting in The Great Lakes State, the Michigan Gaming Control Board reported $33m in revenue, down 43.5 per cent from the $58.4m recorded in September.

Total gross receipts of $253.7m therefore declined by 2.8 per cent from September.

Combined adjusted gross revenue (AGR) for igaming and sports betting in October was $208.5m, including $198.6m from igaming and $9.9m from sports betting.

Igaming AGR increased by 8.9 per cent and sports betting AGR declined by 64.3 per cent when compared to September.

Despite the drop in sports betting revenue, handle was up 11.7 per cent from $501.8m in September to $560.4m in October.

Taxes and payments from igaming and online sports betting in October totalled $42.1m, with igaming accounting for $41.5m of that figure.

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