Michigan iGaming revenue down 2% in November 2021
Created: 1/4/2022Updated: 1/4/2022
But it wasn't all bad news for online casinos in the Wolverine state
Data released from the Michigan Gaming Control Board shows that online gaming revenue in the Wolverine State dropped 2% between October and November.
However, once October's extra calendar day is taken into account, then the month actually shows a growth in daily Gross Gaming Revenue (GGR represents the casino's operating profit once payouts to players is subtracted from the total wagered by those players).
In October MI online casinos earned a total of $109.7 million ($3.54 million per day), while November brought in $107.6 million - representing the 2% headline revenue drop - but earning $3.59 per day.
These revenue numbers kept Michigan on track to earn more than $1bn in revenue for 2021. Since the launch of Michigan iGaming on Jan 22nd, a total of $992.2 million has been earned, with the billion-dollar revenue mark nailed on for the year, as we await December's numbers. That would allow Michigan to join New Jersey and Pennsylvania as members of the exclusive club of billion dollar states.
State tax revenue (including from online poker) was also notable in November with Lansing adding $19.8 million to the coffers. This is now $179 million YTD, with the tantalizing possibility of a total of $200 million in revenues in Michigan's iGaming's debut year.
What were the top online casino brands in MI n November 2021?
- BetMGM (Casino and Poker combined) – $40.1 million (37.3% market share)
- DraftKings (Casino only) - $16.8 million (15.6% market share)
- FanDuel (Casino only) - $16.8 million (15.6% market share)
As we start 2022, the MI online casino industry can look back on impressive growth figures for 2021. Can this continue into the New Year? With the spread of live casino products and new operators such as Caesars, we can only assume so.
