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The Michigan Gaming Control Board (MGCB) has released impressive financial results for December and FY2024, highlighting the state’s thriving iGaming and sports betting industries. Together, these sectors generated $264.2 million in December, reflecting a year-over-year increase of nearly 9%.
In December 2024, iGaming posted its highest monthly revenue in Michigan’s history at $244 million, surpassing November’s record. This milestone represents a remarkable 34.5% increase compared to December 2023.
For FY2024, iGaming contributed $2.4 billion, marking a 26.3% growth from the prior year. Its robust performance underscores the sector’s increasing appeal to Michigan residents.
While iGaming thrived, sports betting experienced a decline. December’s sports betting revenue fell by 66.9% year-over-year to $20.2 million. However, Michigan’s total internet sports betting handle for the month rose by 2.5%, reaching $597.7 million.
For FY2024, sports betting generated $460.5 million, a 9.5% year-over-year increase. The total sports betting handle for the fiscal year also climbed 15.2% to $5.3 billion.
The MGCB reported $219.9 million in adjusted revenue for iGaming and sports betting in December, up 10.8% from December 2023. iGaming accounted for nearly all of this figure, generating $219.6 million. Sports betting contributed just $267,900.
Tribal operators made substantial contributions to governing bodies, totaling $55.3 million for FY2024. In December alone, they provided $5.7 million, reinforcing their commitment to the state.