Michigan Online Gambling Generates $1.98B In 2022Gross Revenue Was Up 41% Year-Over-Year |
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It was another big year for online gambling in the Wolverine State.
Michigan commercial and tribal internet casino gaming and internet sports betting operators reported a combined $1.98 billion total gross receipts (revenue) in 2022.
Gross receipts rose 41% compared with $1.4 billion in receipts reported in 2021. Internet casino gaming generated $1.58 billion in gross receipts, and internet sports betting produced $399.58 million in gross receipts.
The figures were lower when adjusting for promotional credits extended to online gamblers. Adjusted gross receipts include deductions for the monetary value of free play incentives provided to and waged by bettors.
Combined 2022 adjusted internet gaming and internet sports betting adjusted gross receipts were $1.65 billion, which was 47.8% higher than the $1.1 billion in adjusted gross receipts recorded in 2021.
The 2022 results included $1.43 billion from adjusted gross internet gaming receipts and $219.58 million from adjusted gross sports betting receipts.
Sports betting revenue can have variance for the industry. A popular metric is the amount wagered, known as the handle. The total handle for the year was $4.6 billion compared with $3.7 billion recorded in 2021.
Michigan kicked off online gambling in early 2021.
Based on the revenue figures, the tribal and commercial operators made $302.98 million in taxes and payments to the State of Michigan during 2022. The three Detroit commercial operators reported paying the City of Detroit $84.57 million in wagering taxes and municipal services fees during the year.
Tribal operators reported making $32.83 million in payments to tribal governing bodies.
As for revenue from the retail operations at the Detroit casinos, the three properties reported $1.276 billion in yearly revenue in 2022. Brick-and-mortar slots generated 77% of revenue at $983.7 million, table games provided 21% of revenue at $273.3 million and retail sports betting added 2% of revenue at $18.8 million.
By comparison, the casinos produced $1.294 billion in aggregate revenue in 2021.
The 2022 market shares were MGM Grand Detroit, 48%, MotorCity Casino, 31%, and Hollywood Casino at Greektown, 21%.
In calendar year 2022, casino wagering taxes contributed $101,814,954 to the state School Aid Fund, and the fund received $711,087 from retail sports betting taxes.
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