MI Online Casinos Show Their Stability And Synergy In June
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Michigan's retail and online casinos earned $89.2 million in June. The daily average was down 2.8%. The state's gross gaming revenue dropped 5.9% month over month, but it was only because of the shorter month of June than May.
Online Poker Report tracks GGR for consistency with other sites in the network and between states. The Michigan Gaming Control Board's revenue was down by nearly 26% on the month. This drop is due to the deduction for free play given out to players as part of a promotion.
MI Online Casinos Show Their Stability And Synergy In June. MGM Grand Detroit takes a 6-month promotional deduction in June of $17.5 million for free play.
MGCB makes it clear that MGM can't spend at that rate forever. New Jersey is in the process of introducing such a deduction.
MI Online Casinos Show Their Stability And Synergy In June. MGM Grand Detroit took deductions for free play from January through June 30.
The deduction contributed to a 25.7% decline in internet gaming adjusted gross receipts in June compared with May results. Michigan law limits the deduction for internet casino gaming free play to 10% or less of gross revenues in the first three years after launch.
Detroit retail casinos brought in $108.1 million in June. Daily average increased 1.8%. Retail casinos are not struggling despite the launch of iGaming.
MI Online Casinos Show Their Stability And Synergy In June.
MI Online Casinos Show Stability And Synergy In June. Internet gaming and online sports betting continues to draw Michigan residents’ and visitors” interest.
Online casinos and poker rooms in Michigan made $89,214,138 in GGR in June. Daily average revenue was $2.97 million. BetMGM made a profit of $17.5 million in free play deductions.
MI Online Casinos declared $23,021,111 worth of spending on promotions in June. BetMGM is the primary driver of the increase. Online casinos and poker rooms paid $13.7 million in taxes in May.
BetMGM Casino has been the No. 1 operator every month since online gambling launched in Michigan. DraftKings Casino and FanDuelCasino keep trading that trophy back and forth. Fanduel has the largest overall market share. In the Wolverine State, BetM MGM generated more than twice as much gross revenue as Draft Kings andFanDuell put together.
BetMGM generated $33.8 million in June. DraftKings brought in $15.5 million. FanDuel's gross revenue was $14.7 million, which is now No. 3.
BetMGM's GGR dipped from $36.1 million in May to $33.8 million on July 12. FireKeepers debuted with $11,902 in G GR in June.
June's gross revenue from Michigan's online sports betting was $25 million. Since the market's inception on Jan. 22, 2021, Michigan’s online sportbooks have accumulated a total adjusted gross revenues of $40.5 million as of June 30. The top bookmaker in Michigan is FanDuel, followed by BetMGM and DraftKings. In June, all in-person betting generated $2.3 million in gross Revenue.
MI Online Casinos Show Their Stability And Synergy In June. FireKeepers is on the board, as well as the ranking flip between DraftKings and FanDuel.
