The Michigan Gaming Control Board (MGCB) reported that revenue from Michigan’s online casinos rebounded 3.5% to $92.3 million in July.
Judging by revenue figures provided by the MGCB, it appears the rebound was supported in large part by the addition of a 14th operator, FireKeepers Casino, which began reporting limited online revenue in June. MGCB data show July was also the fourth month where online revenue went over the $90 million mark.
Overall gross revenue figures include online poker. Since the MGCB does not separate poker revenue from overall casino revenue, poker’s contribution to the final total is not known. PokerStars MI and BetMGM Poker MI are the only two operators licensed to provide online poker in the Wolverine State, but they are expected to be joined by WSOP MI in the very near future.
Lead operator BetMGM MI saw flat revenue in July. So, too, did the state’s second- and third-largest operators, DraftKings and FanDuel. But while revenue was mostly unchanged, all three operators lost market share in July to FireKeepers and several middle tier operators.
BetMGM MI had revenue of $33.8 million for the second consecutive month but it’s market share slipped to 36.5%, down from 38% in June. Meanwhile, DraftKings had $15.2 million in revenue and a 16.5% share of the market in July, but this was down from $15.5 million and 17.5% in June.
FanDuel generated $14.4 million in revenue and had a 15.5% market share in July. Both of those figures were down from June, when the operator had $14.8 million in revenue and a 16.5% market share.
Rush Street, Golden Nugget, Wynn All Grow
Combined, the 11 other online casino operators in Michigan accounted for nearly 31.5% of the market in July, up from about 28% in June. Their combined revenue was $28.9 million in July, up about 15% from June, when collectively they made $25.1 million.
Rush Street, Golden Nugget and Wynn, considered mid-tier operators in the state, each grew their revenue and market share in July.
Rush Street saw its revenue increase to $6.8 million and its market share rise to 7.3% in July, up from $6 million and 6.7% in June. Golden Nugget grew its revenue to $5.3 million and its market share to 5.7%, up from $4.3 million and 4.9% in June. Meanwhile, Wynn surged to $5 million in revenue, up from $3.9 million in June. Wynn’s market share also increased to 5.4%, up one whole percentage point from June.
FireKeepers, owned and operated by the Nottawaseppi Huron Band of Potawatomi, jumped to $1 million in revenue and grabbed 1.1% of the market. The month prior, the newest operator in the state reported just under $12k in online revenue—effectively very little of the market.
Parx Interactive and PointsBet, which joined the market in April and May, respectively, also grew their income and market share in July. Parx brought in $833k, up from $585k, while PointsBet took in $574k, up from $515k. William Hill—a brand recently acquired by Caesars Entertainment that could disappear in the US after a rebranding by Caesars—grew its revenue to $297k, up from $173k in June.
July wasn’t a good month for all of the smaller operators. Three of them—FOX Bet/PokerStars, Penn Sports/Barstool and Twin Spires—all saw their revenue decline in July. The operators grossed $3.1 million, $2.7 million and $1.3 million in July, but the totals were down from $3.3 million, $2.8 million and $1.4 million in June, respectively.
Sports Betting Down, But NFL Season Looms
MGCB data show online sports betting revenue fell nearly 23% to $19.6 million, down from $25.3 million in June. It was the lowest month for sports betting revenue since May, when it totaled $19.5 million. Sports betting hit a record high of $32.3 million last March.
Sports betting is likely to rebound in August with the start of the NFL season.
FanDuel continued to lead operators in sports betting for the fourth consecutive month, grossing $7.8 million in July and reeling in a 40% market share. But those figures were down from June, when FanDuel brought in $10.3 million and had a 40.5% share of the market.
BetMGM MI, the second-place operator for sports betting, had $5 million in revenue, down from $6.1 million in June. But BetMGM still managed to grow its market share to 25.5% in July, up from 24.2% in June.
DraftKings had a tough month, with revenue falling to $3.1 million in July and its market share tumbling to less than 16%. By comparison, DraftKings had $5 million in revenue and 19.6% of the market in June.
