BetMGM Continues Its Online Casino Dominance In Michigan

BetMGM is clearly setting itself apart from the crowded online casino space in Michigan, with over $30 million in March profit.
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When it comes to online casinos in Michigan, it’s BetMGM’s world, and everyone else is just living in it.

For the second month in a row — and the second full month of online casinos being live in Michigan — BetMGM paced the field, with $30.8 million in adjusted gross receipts (which is profit after free play is accounted for). This was a 14.4% increase from February’s numbers for BetMGM, and it has clearly solidified its position as top of the heap in online casino play in the state.

In second place for the second consecutive month was FanDuel, with $17 million in adjusted gross receipts. It also saw a 14% month-over-month increase.

DraftKings maintained third position in the crowded field with $14.9 million in adjusted gross receipts, for an 8.5% increase over February’s numbers.

Fourth place was BetRivers, which leapfrogged Stars and Barstool for the title. It brought in a shade over $6 million, which translates to a remarkable 55% increase month-over-month.

Fifth place was the aforementioned Stars, which made $5.2 million, roughly the same as it made the previous month. One potential reason for the stagnation: Its stranglehold on poker was broken with BetMGM’s entry into the field.

Sixth place was WynnBet, with over $3.9 million in adjusted gross receipts.

Barstool takes a tumble

Seventh place, as it’s turning out, may be the biggest story, as Barstool tumbled to $3.5 million in adjusted gross revenue, a 26% decrease month-over-month. Barstool was the only online casino to see its monthly number go down.

Pulling up the rear was Golden Nugget at $3 million, TwinSpires at $1.9 million, Four Winds at $1.6 million, and William Hill at $583,000.

For the month, total adjusted gross receipts were $88.7 million, an increase of over 18% from February’s $75.2 million. 

Total taxes paid came in at more than $17.2 million for the month of March.

“It looks like March Madness added a bounce to the sports betting handle, which jumped 19.1 percent from February, and internet gaming seemed to increase in popularity with monthly adjusted gross receipts going up 18 percent from February,” said Richard S. Kalm, the executive director of the Michigan Gaming Control Board, in a press release. “This led to increases in taxes and payments, which means more funding for the City of Detroit, K-12 education, economic development and tribal communities.”

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