Michigan Internet Gaming Registered New Record in February
The Michigan Gaming Control Board (MGCB) released the February 2022 internet gaming and sports betting report, revealing that the 14 operators authorized for both forms of online wagering generated less than in January.
Internet Gaming Record Month
Commercial and tribal internet casino gaming and sports betting operators accounted for a combined $145.28 million in total gross internet gaming receipts, down 6.8% as compared to the results posted in the month before.
Michigan’s Internet gaming gross receipts in February were a record high at $122.78 million, marginally surpassing the previous record of $121.8 million registered in December 2021. Gross sports betting receipts chipped in with just $22.5 million.
The Great Lakes State’s operators reported total adjusted gross receipts of $106.61 million of which $110.56 million from internet casino gaming while internet sports betting registered a loss of $3.95 million. On a sequential base, February’s internet gaming adjusted grow receipts posted a 1.3% increase.
Michigan registered a total of $219.7 million in internet gaming adjusted gross receipts for the first two months of 2022, and a mere $15.2 million in internet sports betting adjusted gross sports betting receipts.
Improvement Year-Over-Year
Year-over-year, February 2022 monthly internet gaming adjusted gross receipts posted a 47% increase, while internet sports betting adjusted gross receipts jumped by 63.4%.
Total handle in the state fell by 19.8% to $398.4 million in February as compared to the month before. State taxes amounted to $22 million the bulk of which, $21.6 million, came from internet gaming taxes and fees, with the remaining $360,354 coming from internet sports betting taxes and fees.
Commercial casinos in Detroit reportedly paid to the City of Detroit $6.2 million in wagering taxes and municipal services fees, comprising of $6 million in internet gaming taxes and fees and $221,194 in internet sports betting taxes and fees.
Tribal operators contributed to their governing bodies with $2.3 million.
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