Michigan continued its impressive start to online gaming in May. According to numbers from the Michigan Gaming Board, online casino operators in the state raised $94.9 million for May, a figure which put the state among the best in the country. Online casino operators paid state taxes worth $18.1 million, along with $5.2 million paid as taxes to the city of Detroit and $1.9 million to tribal governments.
The total revenue gained by Michigan online casinos in May was almost unbelievably consistent with the numbers from April. The difference between both months was a slightly imperceptible $213.47 (0.0002%) drop from $94,851,765.56 to $94,851,552.09. (Michigan Gaming Control Board, 2021)
The breakdown of Michigan’s online gaming revenue for May revealed that BetMGM Online Casino led the way again, with $36.1 million gained in revenue, amounting to 38% of the total revenue. The revenue was for the most part a result of winnings from BetMGM MI Casino, but earnings from BetMGM MI Poker also contributed.
Behind BetMGM’s class-topping numbers
BetMGM’s high-performing online casino numbers for the month of May included $36,089,904 in revenue, $7,073,621 in state taxes, and $3,482,676 in local taxes. Those figures make it the second month in a row where BetMGM has held almost 40% of Michigan’s online gaming market.
Despite the pretty strong competition facing the operator – including giants FanDuel and DraftKings – BetMGM has managed to navigate its way to an undisputed top spot in Michigan’s online casino market since it launched in January.
The company experienced a drop in revenue from April, but much in the same vein as total online gaming revenue in Michigan, the difference was almost negligible. In April, BetMGM Online Casino brought in online gaming revenue of $36,813,468.11. That figure fell 1.9% in May with total revenue of $36,089,904.12.
Breakdown of BetMGM’s Revenue Since January
BetMGM’s combination of consistent promotion rollouts and a variety of casino games has seen the company take massive strides in the Michigan online casino market. Before May’s slight drop-off from May, the operator had gone from $11 million to $36 million in three months. (Michigan Gaming Control Board, 2021)
- January – $11,075,980.37
- February – $26,912,267.71
- March – $30,792,815.02
- April – $36,813,468.11
- May – $36,089,904.12
It is impossible to know the exact amount online poker has contributed to these revenues, as the Michigan Gaming Control Board does not release poker revenue data away from casino revenue. However, the online gaming classification that it gives to the numbers means that revenue from BetMGM’s online poker offering must have been factored into calculations.
The first few months of online gaming in the Wolverine State have thrown up a three-way race between the top USA online casinos BetMGM, FanDuel, and DraftKings. But with a market share percentage that’s more than double their nearest competitors, BetMGM’s hold on top spot appears almost insurmountable.
Sources
- Michigan Gaming Control Board, 2021 – https://www.michigan.gov/mgcb/0,4620,7-351-79263-561862–,00.html
- Michigan Gaming Control Board, 2021 https://www.michigan.gov/mgcb/0,4620,7-351-79127_82898-244408–,00.html
