MI casinos bring in $42.7M from online gambling in 10 days
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GRAND RAPIDS, Mich. (WOOD) — State regulators say 11 casinos made some $42.7 million on online gambling in only the first 10 days it was allowed in Michigan.
Internet gaming and sports betting opened in Michigan on Jan. 22. Between then and the end of the month, the casinos and their online platform partners made $29.4 million in gaming and $13.3 million on sports betting.
While profit collected for sports betting totaled $13.3 million, operators say some $115.2 million passed through their hands over the 10 days.
The Michigan Gaming Control Board says the state took in $4.4 million in online gaming tax revenue for January alone: $4.3 million from internet gaming and $111,696 for sports betting.
The three Detroit casinos also paid $1,379,073 in taxes to the city.
“Internet gaming operators are off to a good start in Michigan,” MGCB executive director Richard S. Kalm said in a Wednesday statement. “The taxes and payments from online gaming will provide funding for K-12 students, the city of Detroit and Michigan tribal communities.”
Online gaming and sports betting is expected to generate some $90 million in tax revenue for Michigan in its first year alone. At the end of January, 11 casinos had authorization to run online gambling; one more was added this week for a total of 12.
