{"id":307714,"date":"2024-01-23T13:15:41","date_gmt":"2024-01-23T19:15:41","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=307714"},"modified":"2024-01-23T13:15:41","modified_gmt":"2024-01-23T19:15:41","slug":"michigan-igaming-posts-record-revenues-in-2023","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/michigan-igaming-posts-record-revenues-in-2023\/","title":{"rendered":"Michigan iGaming Posts Record Revenues in 2023"},"content":{"rendered":"

Michigan commercial and tribal operators begin 2024 on a roll fueled by momentum from 2023.<\/p>\n

\"Welcome
A “Welcome to Michigan” sign greets motorists as they enter the state’s Upper Peninsula on US Highway 45. Michgan’s iGaming sector posted record results in 2023. (Image: spiritofamerica\/Adobe Stock Images)<\/figcaption><\/figure>\n

Total iGaming and sports betting gross receipts for 2023 hit a record $2.3 billion. That\u2019s more than 18% higher than the revenue generated in 2022, and well above the $1.4 billion from the first year of legal betting in 2021.<\/p>\n

\n

The Michigan Gaming Control Board<\/a> (MGCB) said the $2.3 billion in 2023 breaks down to $1.9 billion in total revenue from iGaming and $420.4 million from sports betting. Those numbers are both new annual records.<\/p>\n<\/div>\n

Sports in the Great Lakes State were in the national spotlight in January with a College football championship and the Detroit Lions advancing to the NFL’s NFC Championship game this Sunday.<\/p>\n

The Michigan Wolverines’ first national championship since 1997 was a source of big bets,<\/a> and as reported by Casino.org<\/em>, the Detroit Lions are now driving more action heading into the championship weekend and after having drawn the highest rating for an NBC<\/em> divisional game broadcast in 30 years with their defeat of the Tampa Bay Buccaneers.<\/p>\n

Michigan\u2019s internet sports betting handle hit a new record of $583 million in December, marking a 2.5% increase from November\u2019s $568.8 million. The annual handle totaled $4.6 billion in 2023.<\/p>\n

2023 Record Driven by December Surge<\/h2>\n

Michigan’s total gross gambling revenue in December hit $181.4 million — its highest monthly total ever — and more than 20% higher than in December 2022. IGaming led the way with a revenue record of $181.4 million. Gross sports betting receipts hit a new monthly high at $61.1 million.<\/p>\n

Total online gambling Adjusted Gross Revenue for December was up almost 30% year on year at $198.4 million.<\/strong><\/p>\n

Operators paid Michigan $36.7 million in taxes in 2023, with more than $34.1 million coming from iGaming, and $2.6 million coming from sports betting.<\/p>\n

Other Items of Business<\/h2>\n

The MGCB says board members Joni M. Thrower Davis and Andrew T. Palms were reappointed by Governor Gretchen Whitmer.<\/p>\n

\u201cI appreciate Governor Whitmer\u2019s decision to reappoint Joni and Andrew to the Board, which is well-deserved recognition of their dedication, expertise, and valuable contributions to our agency\u2019s mission and vision,\u201d said MGCB Executive Director Henry Williams.<\/p><\/blockquote>\n

Their terms expire at the end of 2027.<\/p>\n

The MGCB has also taken action against illegal operators in the state, with cease-and-desist letters being sent to three online gaming companies<\/a> it says are operating illegally.<\/p>\n","protected":false},"excerpt":{"rendered":"

Michigan commercial and tribal operators begin 2024 on a roll fueled by momentum from 2023. Total iGaming and sports betting gross receipts for 2023 hit a record $2.3 billion. That\u2019s more than 18% higher than the revenue generated in 2022, and well above the $1.4 billion from the first year of legal betting in 2021. […]<\/p>\n","protected":false},"author":98,"featured_media":226511,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,19,86430,1074],"tags":[81863,83353,81920],"acf":[],"yoast_head":"\nMichigan iGaming Posts Record Revenues in 2023 - Casino.org<\/title>\n<meta name=\"description\" content=\"Michigan commercial and tribal operators begin 2024 on a roll fueled by momentum from 2023. 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