Michigan iGaming, sports betting revenue down by 5% to $185.8M in May

The Michigan Gaming Control Board has released its monthly figures for May. As per the report, the Michigan commercial and tribal operators generated a combined $185.8 million from total internet gaming gross receipts and gross sports betting receipts in the month.

The gross revenue decreased by 5.1% when compared to April. Individually, iGaming in May generated $150.6 million in gross revenue, while sports betting revenue totaled $35.2 million. In comparison, Michigan’s internet gaming generated $159.4 million in revenue and sports betting recorded $36.3 million in April. 

The combined total from internet gaming and internet sports betting adjusted gross revenue in May 2023 was $157.5 million. This included $135.5 million from internet gaming and $22 million from internet sports betting respectively. 

These figures are a 5.5% and 10.2% decrease compared to April, but are an 18.1% increase and a 2% decrease, respectively, compared to May 2022 reported revenues. The handle from internet sports betting for May this year was recorded at $288.3 million. It was down by 10.7% from the $322.8 million handle recorded in April 2023.

Sports betting operators with the maximum handle included FanDuel, DraftKings, and BetMGM with $104,986,557, $78,828,292, and $50,491,831 respectively. 

The operators reported submitting $29.4 million in taxes and payments to the State of Michigan during May, including $28 million in internet gaming taxes and fees, and $1.4 million in internet sports betting taxes and fees.

The three Detroit casinos reported paying the City of Detroit $7.6 million in wagering taxes and municipal services fees during the month, including $7 million in internet gaming taxes and fees and $642,422 in internet sports betting taxes and fees. Tribal operators reported making $3.4 million in payments to governing bodies in May.