Michigan iGaming Operators Report $183 Million In Revenue for June
The Michigan Gaming Control Board published the June iGaming revenue data, and the 15 licensed operators in the Wolverine State took in a combined $183 million in bets. Michigan online casinos had a slower month than May, when they generated $198.6 million in revenue. However, the Great Lakes State market crossed the billion-dollar mark after six months in 2024.
This is the first time since its launch in 2021 that Michigan’s iGaming market will generate $1.16 billion in the first half of the year. This proves that the Michigan iGaming market is growing and is already one of the most profitable nationwide.
BetMGM Retains Its Leadership Position
The situation at the top did not change in June. BetMGM is still the most visited online casino in the Great Lakes State. However, the winning margin between BetMGM and FanDuel remains attainable, with only $2.3 million separating these operators. BetMGM took in $47.9 million, while FanDuel started the summer with $45.6 million.
Going into the second half of 2024, the battle between FanDuel Casino and BetMGM Casino will remain heated, considering that FanDuel managed to overtake BetMGM in March and April. Apart from this rivalry, DraftKings Casino enjoys a comfortable ranking as the third operator in Michigan. DraftKings Casino took in $32.5 million in June and became the third operator in the history of the Wolverine State to achieve a lifetime revenue of over a billion dollars.
Despite constant investments in its lobby and the distribution of appealing Michigan online casino promotions, Caesars Palace did not manage to budge from the fifth position in the market. Caesars Place had a modest June with $11.5 million. BetRivers Casino is still the fourth-best operator, taking in 12.2 million in wagers last month.
One brand on an upward trajectory is Golden Nugget Online Casino, which generated a respectable $8.66 million in June, which is extremely close to its record of $8.7 million. Currently, Golden Nugget Online Casino ranks as the sixth operator according to revenue generated, after holding the 11th place in April.
New Records on the Horizon in 2024
Statistics reveal that the market will average $193.3 million monthly in 2024. If that trend continues, a $2 billion yearly revenue is on the horizon, marking another historic milestone for Michigan’s iGaming market. Over the past 42 months, the Michigan iGaming market generated $5.8 billion in revenue.
On a national level, Pennsylvania is the only market outperforming Michigan. However, with Caesars Entertainment introducing a new online casino brand by the end of the year, higher growth is expected. The State of Michigan also benefits from the growth, collecting $34.4 million in iGaming taxes and fees.
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