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Michigan breaks iGaming revenue record in January20 February 2024(PRESS RELEASE) -- Michigan commercial and tribal operators reported a combined $229.6 million total internet gaming gross receipts and gross sports betting receipts in January. Gross receipts decreased 5.4% compared to December. Monthly Gross Receipts January iGaming gross receipts totaled $181.9 million, the highest to date. The previous high was $181.4 million recorded in December 2023. Gross sports betting receipts for January totaled $47.7 million. Last month, gross sports betting receipts were $61.1 million. Monthly Adjusted Gross Receipts Combined total iGaming and internet sports betting adjusted gross receipts for January were $183.0 million, including $164.2 million from iGaming and $18.8 million from internet sports betting — representing an iGaming increase of 0.5% and a sports betting decrease of 46.5% when compared to December 2023. Compared to January 2023 reported revenues, iGaming AGR was up by 18.7% and sports betting was up by 5.4%. Monthly Handle Total internet sports betting handle at $577.4 million was down by 1.0% from the $583.0 million handle recorded in December 2023. Monthly State Taxes/Payments The operators reported submitting $31.3 million in taxes and payments to the State of Michigan during January, of which: - iGaming taxes and fees = $30.0 million - Internet sports betting taxes and fees = $1.3 million Monthly City of Detroit Taxes/Payments The three Detroit casinos reported paying the City of Detroit $8.5 million in wagering taxes and municipal services fees during January, of which: - iGaming taxes and fees = $7.9 million - Internet sports betting taxes and fees = $614,400 Monthly Tribal Operators’ Payments Tribal operators reported making $3.6 million in payments to governing bodies in January. Additional Information An online gaming and sports betting revenue distribution table is available on the agency’s website. As of January, a total of 15 commercial and tribal operators have been authorized to launch iGaming and/or internet sports betting. Currently, 14 commercial and tribal operators offer internet sports betting, and 15 operators offer iGaming.
Michigan breaks iGaming revenue record in January
is republished from iGamingNews.com.
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