Fanatics Improves Bid to Acquire PointsBet After Late DraftKings Offer EmergedBy: Jessica Aletor
Fanatics Betting and Gaming has now submitted an improved bid of $225 million in a bid to outshine DraftKings as favorite to purchase the assets of PointsBet US. Shareholders are set to vote on the bid on June 30
Late Drama as DraftKings Make $195 Million Offer to Purchase PointsBet’s SharesBy: Jessica Aletor
DraftKings has made a surprise bid for the acquisition of PointsBet, making the former deal with Fanatics more precarious. DraftKings is also offering $45 more than Fanatics, and PointsBet has stated that it would consider the bid.
Detroit Retail Casinos Report Identical Gambling Revenue to Previous YearBy: Jessica Aletor
The Michigan Gaming Control Board released the latest figures from gambling revenue in the city of Detroit. MGM Grand Detroit led all other retail venues both in terms of casino gaming and sports betting revenue.
BetMGM and BetRivers Become First Two Online MI Casinos to Hit 1,000 GamesBy: Jessica Aletor
Michigan online casinos have been working tirelessly to provide more games to customers in the Wolverine state. As at the start of June, two major operators in the state have crossed 1,000 total games in their collection.
Kewadin Casinos to Undergo Renovation Ahead of 38th AnniversaryBy: Jessica Aletor
Sault Ste. Marie, the tribal owners of Kewadin Casinos have announced that they will be renovating their biggest retail casino location in Michigan. The project is expected to cost millions of dollars and is scheduled for completion in 2024.
BetMGM Rolls Out Plans for $2 Million Poker Championship Qualifiers in MichiganBy: Jessica Aletor
BetMGM is organizing qualifiers ahead of the BetMGM Poker Championship in Las Vegas this June. Michigan players can register to participate in the qualifiers and win a prize package of $6,500 inclusive of tournament tickets, hotel accommodation and travel.
Michigan Online Casinos Generate $159.4 Million in Second-Best Month EverBy: Jessica Aletor
Michigan online casinos generated $159 million in gaming revenue in April, the second-highest monthly revenue figure in the history of the state. Lifetime iGaming taxes have also crossed $850 million and may top $1 billion by September 2023.
Fanatics Betting and Gaming Acquire PointsBet Majority Assets in $150 Million DealBy: Jessica Aletor
Fanatics Betting and Gaming has acquired the gambling company PointsBet for $150 million. The deal is pending shareholder approval and regulatory requirements. Fanatics will take over PointsBet's operations in all states where the company operates, including Michigan.
Recreational Marijuana Lounges Become Latest Additions to Michigan Tribal CasinosBy: Jessica Aletor
Many Michigan tribes are starting to include legal cannabis production and sale into their business operations. This means tribes will now combine both casino and recreational marijuana profits for the use of their indigenous peoples.
Michigan Gambling Adds $2 Billion in Tax Revenue, Among Biggest State ContributorsBy: Jessica Aletor
Reports have shown that the Michigan gambling industry contributes one of the highest tax revenues to the state, after it generated $1.96 billion into state coffers in 2022. Revenue from gambling taxes is spent mostly on the School Aid Fund.