The Michigan Gaming Control Board, the regulator accountable for the playing and sports activities betting market within the American state, reported that the licensed operators it oversees managed to generate stable income in November 2023.
According to the state regulators, industrial and tribal operators within the Great Lakes state reported a complete of 209.2 million {dollars} in income (gross receipts and gross sports activities betting receipts) in November. The outcome marks a rise of 1.9 % in comparison with October 2023.
The iGaming sector was the one which caught the attention with gross receipts of 175.3 million {dollars}, the very best quantity to this point. The earlier report was 171.8 million {dollars} and it was recorded in March 2023. In October 2023 gross receipts from on-line casinos amounted to 160.3 million {dollars}.
Gross sports activities betting receipts for November 2023 amounted to 33.9 million {dollars}, a pointy lower from the 45 million {dollars} that had been generated by this sector in October 2023.
Combined complete adjusted gross receipts for November had been 158.1 million {dollars}, with virtually the complete sum coming from iGaming: 157.8 million {dollars}, whereas sports activities betting solely accounted for 294,810 {dollars}. The adjusted gross receipts figures present a rise of 9.4 % for iGaming and a drastic lower of 98.7 % for on-line sports activities betting in comparison with October 2023.
Tens of Millions of Dollars in Taxes
The complete sports activities betting deal with for on-line operators amounted to 568.8 million {dollars} in November, a rise of 6.7 % in comparison with October 2023 and likewise the very best on-line sports activities betting deal with to this point within the state of Michigan.
Licensed operators within the state submitted 33.6 million {dollars} in taxes and funds to the State of Michigan throughout November, with a lot of the sum (32.9 million {dollars}) coming from web gaming taxes and costs. Internet sports activities betting taxes and costs amounted to 740,056 {dollars} within the month of November, whereas the three land-based casinos in Detroit paid town 8.4 million {dollars} in wagering taxes and municipal providers charges throughout November. Tribal operators additionally reported making funds price 4.1 million {dollars} to governing our bodies in November.
At the tip of November 2023 there have been a complete of 15 industrial and tribal operators working in Michigan in iGaming and/or on-line sports activities betting. Fourteen of those operators had been lively in web sports activities betting whereas fifteen had been providing iGaming providers.
Source: “Michigan iGaming, sports betting operators report $209.2M in November revenue“. Michigan Gaming Control Board. December 19, 2023.
