Michigan Online Casino Revenue Analysis After June Release

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Monthly earnings publications for Michigan online casinos are always good for talking points.

Still a relatively new industry, piecing together trends can help predict what to expect in the months and years to come.

June was not a terribly explosive month for the industry. However, there are still some interesting facts to consider.

Michigan Online Casino Revenue Growth Remains Consistent Year Over Year

Although June was the lowest online casino revenue total since January, industry growth is still quite evident.

Comparing the months of 2021 to 2022, each month showed a strong increase in revenue.

Since internet gaming started at the end of January 2021, comparing it to January 2022 is not helpful. Here are the full monthly comparisons so far:

  • February: $79.7 million to $122.8 million (54.1% increase)
  • March: $95.1 million to $131.7 million (38.5% increase)
  • April: $94.9 million to $132.4 million (39.5% increase)
  • May: $94.9 million to $127.4 million (34.2% increase)
  • June: $89.2 million to $121.5 million (36.2% increase)

It should be noted that June 2021 was the first month that Michigan had 14 online casinos. The state came to 15 last April with the addition of Eagle Casino & Sports.

While fewer operators can obviously lead to less revenue, the big names have been there from the start. Additionally, June shows roughly the same increase as other months, although June 2021 had an almost full list of available operators.

BetMGM massive tax source

BetMGM Casino Michigan continued its dominance of online casino operators in the state last month.

In June, BetMGM represented 38.9% of total iGaming revenue share at $47.2 million.

He also represented 38.9% of tax revenue collected for the state in June. BetMGM provided $8.33 million in state taxes and $4.1 million in local taxes.

Even more impressive is that when you combine them ($12.43 million), it is more than the revenues of 12 of Michigan’s 15 online casino operators. Only FanDuel Casino MI ($18.53 million) and DraftMichigan Kings ($17.85 million) avoided that distinction.

Since launching internet gaming in January 2021, BetMGM has accounted for 40% of the state’s total tax revenue at $183.5 million.

Don’t shed a tear for them, because BetMGM generated $702.2 million in all-time iGaming revenue in Michigan.

Eagle Casino moves up the ladder

Soaring Eagle Casino must be somewhat encouraged by June’s show for Eagle Casino & Sports, its online app.

Launched in April, the online casino has shown solid growth in its first two full months.

Here is an overview of the online revenue generated so far:

  • April: $398,111 (launched April 14)
  • May: $1,368,148 (244% increase)
  • June: $2,056,520 (up to 50%)

As revenue grew, Eagle Casino ranked among the top 15 operators in Michigan. It finished 15th in expected revenue for April, but climbed to 13th in May. In June, Eagle jumped up to 11th place.

It’s not far either fox betwhich finished 10th with $2,368,365 in revenue in June.

Michigan Online Casino Promotions Still Available

When the online game was launched, promotions have certainly played an important role in bringing new users to the platforms.

While many users doubted the promotions would last much beyond the first few months of operation, they remain strong 18 months into the industry.

In June, a little less $12.1 million in promotional credits were recorded with Internet gaming operators. This marked the seventh consecutive month that promotional credits exceeded $12 million.

Don’t expect that number to drop much anytime soon. Operators recognize the value of offering special promotions to keep players happy.

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