BetMGM, DraftKings and FanDuel continued to lead Michigan’s online casino market in June, but overall revenue slipped 6% to $89.2 million, down from $94.9 million in May, marking the end of a three-month plateau in gross receipts, data from the state Gaming Control Board (MGCB) show.
The overall revenue figures includes gross receipts from the two operators licensed to provide online poker in the state, PokerStars MI and BetMGM Poker MI. But since the MGCB does not break poker out separately from its casino revenue data, its contribution to the final total is not known.
BetMGM remained tops among operators for revenue and market share, the latter of which was flat at 38%. But revenue fell for the third month in a row to $33.8 million, down 6.5% from the $36.1 million the operator grossed in May and a peak of $36.8 million in April.
DraftKings and FanDuel traded second and third place in terms of market share and revenue, after FanDuel’s revenue dropped 9% to $14.8 million. DraftKings’ revenue also declined, but by only 1.3%, to $15.5 million in June. DraftKings and FanDuel held 17.5% and 16.5% shares of the market in June, respectively. It was the only time since the market’s inception in January that DraftKings ended a month ahead of FanDuel, although the pair’s totals have been very close every month.
Golden Nugget Grows, Wynn Keeps Pace
Among the operators considered to be in the middle of the pack, fifth-place Golden Nugget is the only one to be trending upward since the market’s inception in January. It had $4.3 million in online casino revenue and nearly 5% of the market in June, up from $3.8 million and 4% in May.
Rush Street held on to fourth place for the fourth consecutive month, but its revenue and market share both declined. The operator grossed just under $6 million in online casino revenue and held about 6.5% of the market in June, down from $6.6 million and 7% in May.
Although Wynn saw both its revenue and market share decline in June, it was able to keep pace enough to jump into sixth place. Wynn grossed $3.9 million in online casino revenue in June, down from $4.3 million in May. Its market share slipped to just below 4.5% in June, after having been just above that mark in May.
The numbers continued to go in the wrong direction for FoxBet/PokerStars and Penn Sports/Barstool in June. Revenue for FoxBet/PokerStars declined for the third month in a row and was $3.3 million in June, down from $3.8 million in May and a peak of just under $5.8 million in March. Its market share was about 3.5% in June, down from 4% in May.
Meanwhile, Penn Sports/Barstool saw revenue fall for the fourth consecutive month to $2.8 million in June, down from $3.4 million in May and a peak of $5.2 million in February. The operator’s market share fell to about 3% in June, down from 3.5% in May.
Smallest Operators Mostly Down
Most of the smallest online casino operators in Michigan saw their revenue and market share decline in June, with three exceptions—FireKeepers Casino, which is a new market entrant, and “The Interactives,” aka Pala Interactive and Parx Interactive, which are not.
FireKeepers, owned and operated by the Nottawaseppi Huron Band of Potawatomi, reported just under $12k in online revenue in June, when online gaming was made available to a limited number of VIPs. A full launch was authorized by the MGCB on July 12.
Pala grew its revenue and market share to $2.1 million and 2.3% in June, up from $1.8 million and 1.9% in May. At Parx, revenue and market share increased to $585k and 0.7%, up from $506k and 0.5%. Parx launched in the Wolverine State in April.
TwinSpires, PointsBet and William Hill had revenue totals of $1.4 million, $515k and $173k in June, respectively, all of which were lower from May. PointsBet debuted in Michigan in May.
