Michigan online casinos broke its previous monthly revenue record of $153.7 million set in January 2023 as it posted a whopping $171.8 million in March. In March, Michigan iGaming was 15.9% above its $148 million revenue in February 2023. Besides, it also rose by a remarkable 30.4% on a year-over-year comparison to March 2022.
At the beginning of the year, Michigan maintained a four-month consecutive lifetime high in revenue, up until February when the record broke off. But with its financials for March, there’s no doubt that Michigan online casinos are experiencing their best six-month run ever.
Online casinos only became legal in January 2021, with eight operators launching the iGaming industry in the state. But since then, the industry has grown to accommodate seven more, making a total of 15 online casinos in the Great Lakes State.
For a while, there were 14 casinos after TwinSpires shut down operations. But the inclusion of new SI Casino MI has brought a slight boost to revenue that would have otherwise been absent.
Michigan casinos paid a total of $31.3 million worth of taxes to the state, while local entities took payments worth $11.8 million. As it stands, BetMGM Casino MI remains the state leader in terms of revenue having crossed $1 billion in lifetime earnings a few months ago.