Michigan iGaming and Online Sports Betting Revenues Dip in April

The financial results of Michigan’s commercial and tribal operators for online sports betting and iGaming were released in April. The state’s overall gaming income dropped to $234.8 million in April, the second-highest amount to date, following a record-breaking March.

The decline in iGaming income, which dropped from $215.15 million in March to $192.9 million in April, is the main cause of the decline. Revenue from online sports betting did, however, continue to trend somewhat, falling from $41.93 million to $41.9 million.

Adjusted Gross Receipts

Internet sports betting and iGaming brought in a combined $201.93 million in adjusted gross revenues (AGR) in April. Of this, $27.77 million came from online sports betting, and $174.16 million from iGaming. Comparing this to March, the AGR for iGaming dropped by 10.4%, while the AGR for sports betting increased by 4.1%.

With $399.1 million in total handling from online sports betting in April, there was a 16.9% decrease from March. $37.6 million in taxes and fees were paid by operators to the state; $35.8 million came from online sports betting and $1.8 million from iGaming.

In April 2024, fifteen commercial and tribal operators will have the legal right to provide online sports betting and/or iGaming. Right now, all 15 companies offer iGaming, although only 13 offer online sports betting.

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