Michigan’s Online Casino Revenue Drops Below $190 Million

In June 2024, Michigan’s online casino market experienced a significant dip in revenue, marking the first time since February that earnings fell below $190 million. According to the latest figures from the Michigan Gaming Control Board, the state’s online casinos generated $183.2 million in revenue, an 8% decrease from May’s total of $198.6 million. This decline represents the lowest monthly total since January 2024.

 

Top Michigan Casinos See Notable Revenue Declines

The decrease in revenue was felt across the board, with the state’s leading online casino operators posting notable month-on-month declines. Motor City Casino saw the steepest drop among the top three earners, with a decline of 11.5%, bringing its June revenue down to $45.6 million from May’s $51.5 million. MGM Grand Detroit and Bay Mills Indian Community also reported losses of 7.3% and 6.9%, respectively. Smaller operators, such as the Hannahville Indian Community and Nottawaseppi Huron Band of Potawatomi Indians, experienced even sharper declines, with the latter’s revenue dropping below $1 million for the first time this year.

The decline in June revenue is part of a broader national trend, as multiple states with legal online casinos reported similar downturns. Michigan’s 7.8% decrease in revenue mirrors challenges faced by other markets, such as Pennsylvania, which saw a nearly 10% drop from May to June. Despite this, Michigan’s online casino market has remained relatively resilient, with June marking only the fourth time in the past year that monthly revenue has fallen.

Over the past 12 months, Michigan’s iGaming revenue has generally trended upward, with significant growth in some months. For instance, March 2024 saw a 14.5% increase in revenue, reaching $215.2 million, the highest monthly total in the state’s history. However, the market has also experienced occasional setbacks, such as the 10.4% decline recorded in April.

 

Long-Term Growth Remains Strong

Despite the June downturn, Michigan’s online casino industry continues to demonstrate strong year-on-year growth. Revenue in June 2024 was up 21.3% compared to the same month in 2023, an increase of over $30 million. This upward trajectory is even more pronounced when compared to June 2022, with a 50.8% increase, translating to nearly $62 million in additional revenue.

The steady growth over the past two years highlights the overall health and expansion of Michigan’s iGaming market. While monthly fluctuations are to be expected, the long-term trend suggests that the state’s online casino industry is on a solid footing.

 

 

Outlook for Michigan’s Online Casino Market

Looking ahead, it remains to be seen how Michigan’s online casino market will perform in the coming months. While the June figures represent a notable dip, the broader context of consistent year-on-year growth suggests that the market’s fundamentals remain strong.

As the state continues to refine its iGaming offerings and attract more players, Michigan’s online casino operators will likely focus on stabilizing and growing their revenue streams. The next few months will be crucial in determining whether the June decline was a temporary setback or the beginning of a longer-term trend.

For now, Michigan remains one of the leading online casino markets in the United States, with robust year-over-year growth that underscores the industry’s potential for further expansion.