April’s Michigan Gaming Revenue Plummets Month-on-Month
Michigan has released its April online gambling figures, revealing a combined iGaming and sports betting revenue of $234.8 million.
LISTEN TO THIS ARTICLE:April’s total marks a 20% increase compared to the same month last year when the state recorded revenues of $195.7 million. However, it declined by 8.7% to March 2024’s $257.1 million. Significantly, March’s revenue remains the highest total in the state so far in 2024.
Of the total revenue, iGaming accounted for $192.9 million, a 10.5% decrease month-on-month. Sports betting handle also reduced significantly by 16.9% to $399.1 million. However, despite the decline, sports betting revenue remained steady at $41.9 million.
Combined AGR Reached $201.9 Million
In the month, the combined monthly adjusted gross receipts (AGR) for iGaming and sports betting reached $201.9 million. iGaming accounted for the majority at $174.1 million, while sports betting contributed $27.8 million.
Additionally, iGaming experienced a 10.4% decline in monthly AGR, whereas sports betting saw a significant increase of $4.1 million. However, compared to last year, iGaming AGR rose by 21.4%, while online sports betting AGR also surged by 13.3%.
In April, the state received $37.6 million in monthly tax and payments, $35.8 million from iGaming, and $1.8 million from online sports betting. The month’s gaming tax revenue fell short of March’s $41.1 million.
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Detroit Casinos’ Revenues Decline
Detroit’s three commercial casinos reported a total revenue of $109.4 million for April, down 11.7% from the $123.9 million generated in March this year. The figure was also slightly lower than April 2023’s $109.7 million.
Slots and table games accounted for the highest revenue of the total at $107.9 million. The remaining $1.6 million came from sports betting qualified adjusted gross receipts (QAGR).
MGM maintained its lead in the month, with $49.9 million in table games and slots revenue. MotorCity was second, with $32.7 million in revenue. Hollywood Casino earned a revenue of $25.3 million.
The trio remitted $9.8 million in form of taxes and municipal services fees to the city of Detroit during the month.
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