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The financial results of Michigan’s commercial and tribal operators for online sports betting and iGaming were released in April. The state’s overall gaming income dropped to $234.8 million in April, the second-highest amount to date, following a record-breaking March.
The decline in iGaming income, which dropped from $215.15 million in March to $192.9 million in April, is the main cause of the decline. Revenue from online sports betting did, however, continue to trend somewhat, falling from $41.93 million to $41.9 million.
Internet sports betting and iGaming brought in a combined $201.93 million in adjusted gross revenues (AGR) in April. Of this, $27.77 million came from online sports betting, and $174.16 million from iGaming. Comparing this to March, the AGR for iGaming dropped by 10.4%, while the AGR for sports betting increased by 4.1%.
With $399.1 million in total handling from online sports betting in April, there was a 16.9% decrease from March. $37.6 million in taxes and fees were paid by operators to the state; $35.8 million came from online sports betting and $1.8 million from iGaming.
In April 2024, fifteen commercial and tribal operators will have the legal right to provide online sports betting and/or iGaming. Right now, all 15 companies offer iGaming, although only 13 offer online sports betting.