The opening calendar month of 2024 provided a mixed bag of results for Michigan’s iGaming and retail casino operators, with a slight month-over-month increase in revenue for the former and a major decline for the latter.
Michigan online casinos are a rarity in the United States, as it is one of only a handful of states that has approved legislation.
Overall, Michigan’s iGaming operators took in $164,152,065 in total adjusted gross receipts in January, which represented a 0.5% increase from December’s total of $163,267,138.
On the taxation front, iGaming operators in Michigan reported a total of $30,011,440 in January. That was down 12.1% from December’s sum of $34,142,704.
As far as retail casinos were concerned, the results from January were much bleaker across the board, with a 15.7% month-over-month decline in total adjusted gross receipts, to go with a 15.7% drop in tax dollars and an 18.8% decrease in city taxes.
Overall, Michigan retail casinos took in $93,904,688 in total adjusted gross receipts in January, down 15.7% from the $111,396,739 reported in December.
The state wagering tax bill for January finished up at $7,606,280. Finally, the state wagering tax total in January was $9,023,136.
Sports Betting Handle, Revenue Down
Meanwhile, Michigan sports betting for January reported a total handle of $601,585,142, which was down slightly from December.
However, revenue was down significantly. The January total of 19,299,505 was down 51.7% from December’s $39,941,648.
