Michigan’s online casinos set a new record in April

Michigan’s online gambling operators brought in $163.1 million in April, essentially flat with March results – but the month brought a new record high for online casinos in the state.

Internet gaming generated a record $132.4 million in revenue last month, surpassing the previous record of $131.7 million set in March, according to figures released Tuesday by the Michigan Gaming Control Board. Online sports betting revenue, meanwhile, totaled $30.7 million.

Without football or the majority of the NCAA Tournament, sports betting inevitably slowed down in April,” Paul Costanzo, Principal Analyst for PlayMichigan.com, said Tuesday in a statement. “One of the many reasons why online casino revenue is so important to operators and to the state is that it produces steadily, month after month.”

Adjusted gross receipts – which include deductions for the monetary value of free play incentives provided to and bet by bettors – totaled $136 million for both types of online gambling last month. Internet gaming adjusted gross revenue increased 0.6% from March; those related to online sports betting are up 13.9%.

Year over year, they increased by 34.4% and 53.5%, respectively.

For the month, the internet sports betting handle – or amount wagered – was $371.2 million, up nearly 49% year-over-year but down 17.8% compared to March. Including retail sports betting, which the state reports separately, Michigan’s sports betting handle for the month was $396 million, according to PlayMichigan.com, which noted that sports betting likely sees the start of a seasonal downturn before the start of the football season.

The state’s online gambling operators submitted $25.2 million in taxes and payments to the state for the month. Detroit’s three casinos — MGM Grand Detroit, MotorCity Casino Hotel and Greektown Casino — paid the city $7.2 million in betting taxes and municipal service fees related to online gambling in April. And tribal operators paid $2.7 million to governing bodies.

“The clear conclusion from the first four months of the year is that Michigan’s online gambling industry is not yet close to hitting its ceiling,” said Eric Ramsey, an analyst for the PlayUSA.com network, in a statement. “Even with headwinds affecting the broader economy, this growth is expected to continue at least through the end of the year and likely well beyond.”

In April, 15 state operators were licensed to operate both forms of online betting.

Last week the games control board reported Detroit’s three casinos generated $118.7 million in revenue from in-person table games, slots and sports betting last month.

The state operates a 24-hour toll-free problem gambling hotline at 1-800-270-7117. The responsible gambling section of the MGCB can be reached at 1-888-223-3044. And www.michigan.gov/mgcb has information about self-exclusion programs.

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Twitter: @JGrzelewski