Michigan gambling firms generated over $205m in October

Added: November 23, 2023

The MGCB’s latest market report has revealed that gambling firms in Michigan generated more than 205 million dollars in revenue in October.

The report’s headline revenue figure represented a 2.4% decrease for the state’s gambling market when compared to its performance in the preceding month of September, while the year-over-year comparison resulted in a growth rate of around 8%. Michigan’s gambling operators were able to generate their revenues from a total sports wagering handle of 533 million dollars, which represented a 16.5% increase from September and set a new record for the state’s gambling industry.

The regulator broke down the sector’s results by gambling type, stating that online gambling operators generated just over 160 million dollars in the month, while sports wagering companies generated 45 million dollars. This represented a slight decrease from 166.4 million dollars for the former and an increase from 44 million dollars for the latter when compared to the industry’s performance in September.

Lastly, the MGCB also reported that the state’s gambling companies paid a total of just under 32 million dollars in taxes, of which the majority originated from online gambling operators at just over 30 million dollars, while the rest was paid by sports wagering companies.

MGCB, Michigan