Michigan Igaming and Sports Betting Revenue Declines in June
LANSING, MI — Michigan’s igaming and mobile sports betting revenue experienced a decline in June, falling 5.4% month-on-month, according to the Michigan Gaming Control Board. The total revenue for the month reached $285.2 million, down from $301.4 million in May.
The state saw gross receipts for online casino gaming decrease to $240.6 million from $251.5 million the previous month. Similarly, gross receipts from sports betting dropped by over $5 million, totaling $44.6 million in June.
Adjusted gross gaming revenue (AGR) for both igaming and sports betting hit $256.5 million. Of this total, $226 million can be attributed to igaming, while sports betting accounted for $30.5 million. Month-over-month, igaming AGR fell by 4.3%, and sports betting AGR declined by a notable 14.4%.
Despite the month-over-month decreases, year-on-year comparisons reveal a different picture. Igaming AGR saw a substantial increase of 37.3%, while sports betting AGR rose by $58.7 million compared to the previous year.
The total sports betting handle for the month stood at $302.7 million, reflecting a sharp decline of 21.6% from the $386.1 million recorded in May.
Experts suggest that seasonality and changing consumer trends may be influencing these fluctuations in revenue. As the state continues to navigate the evolving landscape of online gaming and sports betting, stakeholders are keeping a close eye on next month’s figures for a clearer indication of market stability.
As Michigan’s market matures, it will be crucial to see how operators adapt to both the challenges and opportunities presented.
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