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October iGaming in Michigan sets record19 November 2024(PRESS RELEASE) -- Michigan commercial and tribal operators reported a combined $253.7 million total internet gaming gross receipts and gross sports betting receipts in October. Gross receipts decreased 2.8% compared to last month. Monthly Gross Receipts October iGaming gross receipts totaled $220.7 million, the highest to date. The previous high was $215.2 million recorded in March 2024. October gross sports betting receipts totaled $33.0 million. In September, iGaming gross receipts were $202.6 million and gross sports betting receipts were $58.4 million. Monthly Adjusted Gross Receipts Combined total iGaming and internet sports betting adjusted gross receipts for October were $208.5 million, including $198.6 million from iGaming and $9.9 million from internet sports betting — representing an iGaming increase of 8.9% and a sports betting decrease of 64.3% when compared to last month. Compared to October 2023, iGaming AGR was up by 37.7% and sports betting was down by 58.0%. Monthly Handle Total October internet sports betting handle of $560.4 million was up by 11.7% from the $501.8 million handle recorded in September 2024. Monthly State Taxes/Payments The operators reported submitting $42.1 million in taxes and payments to the State of Michigan during October, of which: - iGaming taxes and fees = $41.5 million - Internet sports betting taxes and fees = $569,374 Monthly City of Detroit Taxes/Payments The three Detroit casinos reported paying the City of Detroit $10.5 million in wagering taxes and municipal services fees during October, of which: - iGaming taxes and fees = $10.2 million -Internet sports betting taxes and fees = $323,517 Monthly Tribal Operators’ Payments Tribal operators reported making $5.2 million in payments to governing bodies in October.
October iGaming in Michigan sets record
is republished from iGamingNews.com.
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