Sports Illustrated Casino Makes Positive Showing in Michigan after Debut Month

Jessica Aletor
By:
Jessica Aletor
31/03/2023/
News
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Highlights

  • The Michigan Gaming Control Board approved the operations of Sports Illustrated Casino on February 7.
  • Sports Illustrated Casino pooled $587K in total revenue for the month of February, averaging $26K daily.
  • Despite broken streak in February 2023, evidence from Michigan Gaming Control Board, suggests February was most profitable month ever.

Hannahville Indian Community ended its partnership with TwinSpires in September 2022. While the Sports Illustrated Sportsbook quickly replaced the TwinSpires Sportsbook, it wasn’t until February 7th 2023 that a new casino was able to replace Twinspires Casino.

On February 7th 2023, Sports Illustrated Casino officially became the 15th licensed online casino in Michigan replacing the slot that was created with TwinSpires’ exit. Since February till now, the online casino has been fully operational in Michigan. Check out how they have performed so far.

Newly Launched SI Casino Michigan makes $584,466 in revenue in the first month

Sports Illustrated Casino Michigan is the first casino from Sports Illustrated to be launched nationwide. Making its debut in Michigan, as expected, the casino started off with a slow start. Sports Illustrated had been successfully running the SI sportsbook for some months before the SI Casino was launched.

With its $584,466 revenue for February, SI Casino was the worst-performing brand among the 15 online casinos with licenses in Michigan. The casinos jointly pulled $148,168,863 in revenue for February. Meaning SI Casino was able to pull less than 0.4% of the total revenue from February. The second-lowest-performing casino for February in terms of revenue was PointsBet casino and they were able to raise a total of     $1,457,316, which almost triples SI Casino’s revenue.

While this was definitely a slow start, it was still a regular performance for a casino in its first month. To illustrate this, we can compare SI Casino’s February numbers with the numbers of other licensed casinos in their first month.

Calculated as a daily average, SI Casino’s February revenue is about $26,703 per day. Eagle Casino which raised $2,526,426 in revenue in February 2023, recorded $398,111 on its debut month in Michigan in April 2022. Its daily average for that month was $23,418 per day.

PointsBet Casino MI also made about $21,870 per day in its first month in May 2021. BetParx’s revenue in its debut month in April 2021 was  $180,092, and its daily average was $22,511. This trend is consistent in Michigan online casinos. They start out slow when they launch and continue to improve as months go by. In the coming months, we will see how well SI Casino Michigan will improve.

MI Casinos Lose Record-Breaking Streak Even With An Impressive February

Michigan casinos have had a record-breaking streak going on for months now. However, they were unable to continue breaking records with a 28-day February.  However, the drop in February was more because of the length of February than it was because of the casinos' performance.

In fact, the Michigan casinos had a record-breaking pace in February and if they kept up those numbers for about three more days, they could have beaten the 160 million mark.

The total revenue raised by the Michigan online casinos in February was $148,168,863. The daily average for the 28 days in February was $5.29 million in revenue daily. If this kind of performance can be repeated in a 31-day month, Michigan can get really close to or even beat the present $166.9 million national record. Even though the record-breaking streak is lost, MI Casinos are still performing excellently.

With the impressive numbers MI Casinos have been putting up, there are a lot of prospects ahead for the industry in the state. With another 5.2 million revenue raised in a day, MI casinos could have reached and passed the $3Billion mark in total revenue raised. However, even though it has been delayed, the milestone is set to be passed in March.

Asides from hitting the $3 Billion mark in March, there are also predictions that Michigan casinos will finally make over $160 million in a month. If the average that has been sustained all year continues at this rate, then the casinos can even beat the $166 million record.

Emphasis on Gambling Literacy in March

March is Problem Gambling Awareness month and there has been a lot of emphasis on gambling literacy to control the increase of problem gambling cases in American states.

One of the techniques that have been introduced in Michigan is introducing gambling education to school curricula. This bill was introduced to the Michigan Senate and even thought it has not been adopted, it gained some support across party lines since it was first introduced.

This is just one of the techniques explored to improve gambling literacy in Michigan among others.

Jessica is a news contributor to Gamble Online Michigan. She holds a Bachelor's degree in Economics but has over three years of experience working in the hospitality and gambling industry. Despite her core finance and investment banking background, she has been a casino feature writer for N1 Interactive Limited and multiple gambling affiliate sites. Her work has been featured on the bet365 blog, casino.zone and Max Force Racing. She spends her time between Michigan and California, staying up-to-date on the latest industry developments