Michigan Reports 6.8% Drop in Online Casino and Gambling Gross Receipts in February
Michigan’s online casinos broke state records in February, bringing in nearly $123 million in gross receipts, though overall gross receipts were down 6.8% from January.
While commercial and tribal iGaming hit new heights, online sports betting has lagged, down nearly 20% month over month.
In total, the Great Lakes State generated $145.3 million in gross revenue from both online casino gaming and online sports betting for February, of which the latter only contributed of $22.5 million.
Although the Super Bowl took place in mid-February, the handful went from January’s record sum to $398 million.
Nonetheless, Michigan’s online sports betting operators have seen tremendous year-over-year improvement.
For February 2021, they accepted approximately $302 million in wagers, meaning last month’s figure represents a year-over-year increase of more than 30%.
Online casino games also increased significantly compared to last year. While iGaming surpassed the previous record of $122 million from December, gross revenue from this segment also increased by more than 50% compared to February 2021.
The combined total adjusted gross revenue was $106.61 million, of which $110.56 million came from internet casino games minus a loss of $3.95 million from online sports betting.
The operators submitted $22 million in taxes and payments to the State of Michigan. In detail, $21.6 million was paid in iGaming taxes and fees, while $360,354 came from online sports betting taxes and fees. Tribal operators said they made $2.3 million in payments to governing bodies.
Detroit casinos, meanwhile, paid $6 million in Internet gambling taxes and fees and $221,194 in online sports betting taxes and fees.
For the first two months of 2022, Internet gaming adjusted gross revenue totaled $219.7 million, while overall Internet sports betting adjusted gross revenue was $15.2 million.