Michigan igaming sets consecutive revenue record in January as receipts hit $153.7m

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Michigan’s igaming operators have set another monthly record in terms of revenue in January 2022, besting the previous record set in December. 

As data published by the Michigan Gaming Control Board revealed, revenue for igaming in January hit a record $153.7m, up 0.6% from the previous record of $152.8m in December. This meant adjusted gross revenue was at $138.3m, also up 0.6% from December. 

As well as setting a new record, Michigan’s igaming revenue in January was up 26.7% year-over-year as the market continued to grow throughout 2022. 

However, combined sports betting and igaming receipts of $187.3m fell 7.1% from December’s results of $201.6m. This is primarily because sports betting revenue declined by 31.1% from December to $33.6m.

On an adjusted basis, sports betting revenues stood at $17.8m, down 42% from December and down 6.9% YoY. 

In terms of tax payment, operators paid $26.1m in taxes to the State of Michigan in January. This was broken down by $24.9m from igaming and $1.2m from online sports betting. 

Meanwhile, Detroit casinos paid $7m in igaming taxes and $533k in online sports betting taxes. Finally, tribal operators paid $2.7m to governing bodies in January. 

The month saw 14 operators offer igaming after a tribal operator discontinued the vertical last year. 15 commercial and tribal operators offered internet sports betting.