Michigan Breaks Record For Most Gaming Receipts In SeptemberPublished October 30, 2021 by Sol FH
The industry is booming and the US state of Michigan has reported record gaming receipts for September 2021.
Michigan has been reaping the rewards of its young online gaming operations and September has broken records for the number of sports betting receipts. Gaming operators in the state have reported a total of $126.1m in online gaming and sports betting receipts, the latter, breaking all-time records.
There was a total of $102.4m in online gaming receipts generated, up 5.4% from August 2021 record of $97.2m.
Online sports betting brought in the remaining $23.7m in receipts, which was an increase of 49.0%.
The total handle for September was at $354.3m, a monthly spike of 84.2%.
Adjusted gross revenue reposits totaled $92.3m, up 5.4% from August. Sports betting took a hit, down 99.7% to $17,399, compared to the August total of $7.5m.
Michigan Cashes In
The state raked in a hefty amount of iGaming taxes from the operators in Michigan. Michigan received 19.3m in taxes. Due to the substantial decline in sports betting revenue, the state only received $426,873 from sports betting.
There are three Detroit land-based casinos in Michigan: MGM Grand, Motorcity, and Greektown, which reported $5.5m in the new city wagering taxes and municipal service fees. Online casinos and other online games brought in $5.2m, while sports gambling made up the remaining $263,398.
The Michigan Gaming Control Board is in charge of licensing and the regulation of the local market. There are land-based casinos, tribal casinos, online casinos, and online bookmakers available in the state and they have all been doing very well. If this trend continues, Michigan will have plenty of tax revenues to fund leisure and community projects for citizens of the state.