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Topping $175 Million, Michigan Internet Casino Gaming Revenue Sets Record In November

BetMGM still on top, but FanDuel surpassed $40 million for the first time




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The Michigan Gaming Control Board reported on Tuesday $175.3 million in gross internet casino gaming revenue for November, an all-time monthly high in the Wolverine State.

The figure does not include the $37 million in operator revenue from online sports betting apps.

November’s total from play on casino apps and online casino sites topped the previous standard of $171.8 million established in March and was fueled by FanDuel‘s 18.9% bounce above its short-lived record of $37 million in October. The MotorCity Casino iGaming licensee joined MGM Grand’s BetMGM as the only digital casino apps to top $40 million in single-month revenue since launch in January 2021.

Gross revenue was up 20.5% compared to the $145.4 million generated in November 2022, which also was a record at the time. It was the third time Michigan internet casino operators set a revenue record in 2023, reaching $153.7 million in January and surging past $170 million in March.

The state was able to levy taxes on $157.8 million in adjusted gross revenue, resulting in an inflow of $32.9 million into its coffers. The state has received close to $320 million in taxes generated via online casino revenue heading into the final month of the year, $30.6 million than the $289.2 million generated for all of 2022.

The city of Detroit received $8.2 million in tax receipts, lifting its year-to-date total to $81 million. Tribal disbursement came out to $4.1 million, and those local jurisdictions have received $38.9 million through the first 11 months of 2023.

FanDuel makes BetMGM sweat

November marked the third consecutive month FanDuel set a new high for itself for gross revenue, but the more impressive accomplishment may be surpassing $40 million in monthly winnings after entering 2023 having never cleared $29 million.

FanDuel topped $30 million for the first time in March and cleared $35 million in September. The $362.4 million in year-to-date gross revenue is 57.8% higher compared to the same period in 2022.

MGM Grand again led all mobile platforms with $46.7 million in gross revenue, but the gap of $2.8 million between itself and FanDuel was the smallest of 2023 between BetMGM and any other platform. BetMGM’s revenue dipped 12.9% year-over-year from the $53.6 million claimed in November 2022, and it will need to close out 2023 with $49.7 million in gross revenue in December to match last year’s $589 million haul.

Greektown Casino’s rebranded online casino platform attached to the ESPN BET sportsbook app showed decent coattails from its sports wagering launch. The PENN Entertainment app claimed $4.1 million in winnings, an improvement of 24.3% in October that was also a 3.4% decline from the previous November. It was the first time Greektown’s mobile app topped $4 million since attaining $4.3 million in March.

Commercial gross revenue reached an all-time high of $94.8 million in November, edging March’s previous record by just $38,824. The trio of Detroit-based platforms have generated $940.1 million in gross revenue this year, already eclipsing the 2022 full-year total of $899.7 million.

DraftKings paces strong month for tribal tethers

Like its eternal rival FanDuel, DraftKings had not cleared $30 million in monthly iGaming revenue until this year. Its year-to-date records started at $31.6 million in March and vaulted to $37.1 million in September. The $34.7 million in November was its second-best mark in Michigan and was up 49.2% from a year ago.

DraftKings has enjoyed a stellar 2023 of mobile casino gaming, with its $327.9 million in winnings up 47.5% from the first 11 months of last year. It will also be able to claim an increase of more than $100 million in gross revenue compared to 2022 at year’s end.

Overall, four mobile platforms connected to tribal gaming set monthly all-time records in November. BetRivers posted back-to-back months of $10 million in gross revenue for the first time, clearing the benchmark by about $716,000.

Caesars surpassed $9 million for the first time, and its $9.1 million soared 53.8% above October’s $5.9 million. Nearly half of its $156.5 million in all-time winnings — $77.8 million — has come in the first 11 months of 2023.

The $33,123 above the $3 million mark generated by Soaring Eagle was enough to better its previous high of $3.01 million in October 2022. Bally’s rounded out the monthly record-breakers with just over $1.9 million, knocking out its previous best from March by roughly $44,000.

Gross revenue from tribal internet casino gaming reached $80.5 million for November, the first time it cleared $80 million. The 11 operators have combined for $802.3 million in gross revenue this year, an increase just shy of 30% in comparison to last year.

Photo: Michael Ochs/Getty Images