July iGaming Figures Show Significant Growth for Michigan

The Michigan Gaming Control Board (MGCB) has published the internet gaming figures for July 2024, revealing that the state’s operators collected a total of $220.86 million in iGaming gross receipts and gross sports betting receipts, a 3.2 percent increase compared to June 2024.

iGaming Jumps Up Year-on-Year

While overall gross receipts increase month-on-month, iGaming shows the strongest growth in Michigan’s gambling market, with July’s year-on-year online casino revenues and contributions showing strong growth across all segments. 

Take a look at how Michigan online casino revenue compares to last year:

iGaming gross receipts grew from $153.6 million to $191.44 million year-on-year, a jump of 24.6 percent. Meanwhile, Adjusted Gross Receipts (AGR), increased by 24.7 percent. In July 2023, Michigan casinos collected $138.2 million in AGR compared to $172.3 million collected in July 2024.

As the MGCB taxes AGR, it is no surprise that the amount of tax collected by the state in July correlated to revenue increases, growing by 25.4 percent year-on-year. The state collected an additional $7.3 million in taxes in July, bringing the total taxes collected so far in 2024 to $36 million.

Michigan is home to three commercial land-based casinos based in the Detroit metropolitan area. While in-person revenues for Detroit casinos reportedly dropped in July, these entities still contributed $8.8 million in iGaming taxes and fees through their licensed online casino partnerships. 

Michigan Sports Betting Numbers

Michigan sports betting handle dropped 9.6 percent in July compared to June. This is not surprising, as the summer months generally see lower betting handles until most collegiate and major league sporting seasons begin. However, it’s worth noting that the Michigan betting handle grew from June 2023 to July 2023. Still, Michigan's betting handle has increased year-on-year, growing by more than 24 percent.

Sports betting gross receipts were the biggest contributor to growth across all of the state’s internet gambling verticals, increasing by nearly 61 percent. However, this didn’t translate into similar big changes for sports betting AGR. While AGR rose by $6.4 million, that growth was dwarfed by gross receipts. 

Despite the significant increase in sports betting handle and AGR, there was a negligible impact on taxes, with Michigan operators contributing amounts similar to the 2023 contributions. Detroit casino tax and fee contributions actually decreased by over 20 percent, although the operators still provided more than $300,000 in taxes.

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