Market Monitor: Michigan August 2022
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Michigan online gaming grew for the second month in a row to $130.9 million, up 35% year-over-year, the latest figures from the Michigan Gaming Control Board show.
This is an increase of more than $4 million on the month prior and only the third time in market history that operators have reported over $130 million in revenue for online casino games and poker, which are the regulator reports as a single.
The top three operators are unchanged. BetMGM is the clear market leader, with a 38% market share, in-line with previous months. FanDuel and DraftKings are basically joint second. The latter just squeaked into the lead in August with $19.4 million in revenue compared to the FanDuel’s $19.3 million.
Among PRO’s rejigged Middle Five, BetRivers leads this pack with $9 million in revenue. But Golden Nugget is the one that stands out: with $7.2 million in revenue last month, it hit a personal all-time market high, and gives it a market share of 5.5%, its best in over a year.
In the bottom pack, Play Eagle is the one that deserves attention. Michigan’s newest operator — it launched in April — went from a cold start to fighting at the top of the Bottom Seven stack, jumping over a half a dozen established operators.
Revenue has grown every month since operation, and August’s new high of $2.8 million gives it a market share of 2%. Another strong month and it will jump into the middle of the pack.
