BetMGM continued its dominance of the online casino market in Michigan in April, with revenue hitting $36.8 million in adjusted gross receipts for the month, topping its first place finish in March of $30.8 million.
Finishing a distant second and third in a near dead heat were FanDuel and DraftKings, with $14.1 million and a shade under $14 million, respectively. This marked decreases for both casinos month-over-month.
In fourth place was BetRivers, with $6 million in online casino revenue, followed by Stars at $4.3 million.
To be clear: It took all of DraftKings, FanDuel, BetRivers, and Stars to eclipse BetMGM’s month.
Barstool continues its tumble
From there, the pickings got increasingly slim.
WynnBet took in $3.5 million, Golden Nugget also at $3.5 million, Barstool at $3.1 million, TwinSpires at $1.6 million, Four Winds at $1.5 million, William Hill at $403,861, and Gun Lake at $162,082.
Total gaming taxes for the month came to $17.8 million, up 3.3% month-over-month, which buoyed the whole of the internet gaming industry in Michigan, as the sportsbooks took a hit in April.
“While the sports betting handle dropped 30-plus percent, which we expected the month after March Madness, internet casino gaming adjusted gross receipts held steady with a slight two-tenths of a percent increase in April,” said Richard S. Kalm, MGCB executive director, in a press release.
Since online gaming was legalized in late January 2021 the casinos have made over $280 million in adjusted gross revenue and paid out over $53 million in taxes.
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