Michigan’s Smaller Online Casinos Fuel July’s Revenue Rebound

The state’s online sportsbooks only handled $206.1 million in wagers, its lowest point since August 2021. BetMGM, DraftKings, & FanDuel all saw substantial declines.
Michigan's Smaller Online Casinos Fuel July's Revenue Rebound
August 25, 2022

Revenue at real money online casinos in Michigan rebounded in July, with several smaller operators reporting record or near-record results, according to data from the Michigan Gaming Control Board (MGCB).

But the data also show that online sports betting took a beating in July — not a surprise, considering the month isn’t a big one for sports wagering. Still, the three largest online sportsbooks saw less than half of their revenue just a few months earlier.

The MGCB does not separate online poker revenue from online casino gaming. Since the regulator does not do this, online poker’s contribution to the final total is unknown.

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DraftKings Takes Second Place From FanDuel

Online casino revenue hit $126.6 million in July, up 4.2% from June ($121.5 million). July was the fourth-highest month in terms of revenue for the combined verticals, following April ($132.4 million), March ($131.7 million), and May ($127.4 million).

Revenue from the combined verticals was up 37.2% year-over-year ($92.3 million).

The three biggest operators — BetMGM, DraftKings, and FanDuel — continued to dominate the space.

The BetMGM Casino MI App led the trio with $48 million in revenue in July, up 1.6% from June ($47.2 million).

DraftKings Casino MI took second place from FanDuel Casino MI for the first time since February. The former had $19 million in revenue while the latter grossed $18.5 million. Revenue was up 6.6% month-to-month for DraftKings but was flat at FanDuel.

MGCB data show that the remaining 12 online casino operators made $41 million in July, up 8.2% from the previous month ($37.9 million).

Many Smaller Operators Had a Near-Record Month

There were some interesting developments among the 12 smaller online casinos.

WSOP/Caesars, Golden Nugget, FourWinds, and Firekeepers each had their second-highest month for revenue in July. WSOP/Caesars and Golden Nugget both grossed $6.2 million, FourWinds made $3 million, and Firekeepers put $1.4 million on the board.

Golden Nugget Casino MI was up 41.7% month-over-month, compared to $4.4 million in June. FourWinds’ highest month for revenue, April, also came in at $3 million.

PointsBet Casino MI had its second-highest month for revenue in 2022 with $882k. July was also the third-highest month overall for the brand, which peaked at $1.2 million in December 2021.

PlayEagle, launched in April, had a record revenue of $2.1 million in July.

Not everyone had a good month.

At $3.9 million, WynnBET had its worst month since June 2021 (also $3.9 million). Parx hit $1.5 million in July, its lowest point since November 2021 (also $1.5 million). Parx was also down 40% from its peak in February 2022 ($2.4 million).

Stars Casino MI saw its online poker and casino revenue decline for a fourth consecutive month, landing at $2.3 million in July. It was the worst revenue month for the operator so far in 2022.

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Online Handle Hits New Low for 2022

Handle from online sports betting was $206.1 million in July, its lowest since August 2021 ($192.3 million). Handle was down 23.7% month-over-month ($270 million).

FanDuel Sportsbook MI led the field with $60.1 million in handle, down 24% from June ($79.1 million).

DraftKings Sportsbook MI was second at $57.5 million and BetMGM Sportsbook MI third with $44.6 million — following month-to-month decreases of 19.8% ($71.7 million) and 23.9% ($58.6 million), respectively.

Both BetMGM and FanDuel saw their handles slide for the fourth consecutive month. BetMGM was down 58.8% since March ($108.1 million), while FanDuel was down 57.1% from its peak of $140.1 million in March.

DraftKings was down 56.5% from its peak month in January ($132 million).

The remaining 12 active operators for real money sports betting in Michigan combined for a $44 million handle in July, down 27.5% from the month before ($60.7 million).

Barstool Sportsbook MI had its second-worst month to date for handle at $13.1 million. July was less than $5,500 away from being the worst month; August 2021 still holds that distinction.

PlayEagle Sportsbook— also launched in April — saw a record handle of $1.3 million in July.

If you or someone you know has a gambling problem and wants help, call the Virginia Council on Problem Gambling (VACPG) helpline at 1-888-532-3500

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