Industry

NCAA President Baker has requested that Michigan and other states ban college sport prop betting. MGCB is in the process of reviewing the status of props betting. Concrete decisions on prop betting might be delayed till after March Madness.

Hard Rock Digital has sealed a deal with 888 Holdings for the purchase of its US assets. The deal will give Hard Rock access to the Michigan market after MGCB approval. DraftKings remains a possible buyer of RSI/BetRivers operations.

BetRivers’ parent company is up for sale and DraftKings is a potential buyer. Hard Rock is also eyeing the license but is yet to make a decision. DraftKings may choose to make a move on RSI and integrate BetRivers.

Michigan online sportsbooks recorded $402.6 million in handle. FanDuel had the highest share of the month’s $30.5 million in combined revenue. FanDuel improved its market share and Fanatics rose to sixth position. The number of online sportsbooks in Michigan shrunk.

Michigan online casinos’ gross receipts hit $188 million setting another record in the state’s history. February’s revenue brought Michigan’s lifetime revenue closer to the $5 billion mark. FanDuel closed in on BetMGM while DraftKings trailed behind in the third position.

Michigan Lottery has extended its partnership with Pollard Banknotes through a new 5-year deal. The extension is evidence of a successful working relationship spanning 28 years. Pollard’s engagement in Michigan has created numerous jobs and generated tax revenue.

Detroit Casinos saw positive growth in February’s monthly revenue as MGM Grand Detroit continues to lead in market share. However, the year’s average monthly revenue is still below industry expectations while retail sportsbooks also suffered losses.

888 Holdings has announced the termination of its partnership with Authentic Brands Group, owner of Sports Illustrated brand. As a result, the SI sportsbook and online casino license may become openly available in Michigan once again.

Governor Whitmer has named Suzanna Shkreli as the new Michigan Lottery Commissioner, with former commissioner, Jessica Weare, taking up a new government position. Shkreli was formerly Michigan’s Director of Juvenile Justice Reform.

Michigan ranked second on the top three list for highest gross online casino revenue in 2023, closely edging out New Jersey. Detroit casinos also maintained top 10 status on the AGA’s ranking of casino markets by revenue.