Hard Rock and bet365 have joined the state’s online casino market as BetMGM posts solid revenue growth and a 15% rise in acquisition costs.
Data show three commercial casinos in the state still lead 12 tribal casinos in terms of online casino revenue and handle from online sports betting. But both leads are narrowing.
BetMGM, DraftKings, & FanDuel lead Michigan’s iGaming market in record month. Four smaller operators also set records in Michigan’s online casino industry
BetMGM Casino MI, DraftKings Casino MI, and FanDuel Casino MI broke monthly revenue records, as did smaller operators FourWinds and PlayEagle.
A record month for DraftKings and rising operator PlayEagle wasn’t enough to offset the loss of TwinSpires and a very down month at FireKeepers.
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.
Handle from online sportsbooks was down 19% month-over-month but is also up 14.8% year-over-year, according to data from the Michigan Gaming Control Board (MGCB).
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