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Michigan reports 6.8% fall in online casino and wagering gross receipts for February

MichiganUSA

While commercial and tribal iGaming surged to new heights, online sports betting lagged behind, with handle falling by nearly 20% month-over-month.

In total, the Great Lakes State generated $145.3m in gross receipts from both internet casino gambling and online sports wagering for February, of which the latter only contributed $22.5m.

Despite the Super Bowl taking place in mid-February, handle tumbled from January’s record-setting sum to $398m.

Nevertheless, Michigan’s online sports betting operators saw considerable improvement on a year-over-year basis.

For February 2021, they accepted approximately $302m in wagers, meaning last month’s p represents an over 30% increase year-over-year.

Online casino gambling was also up by a significant margin from last year. While iGaming surpassed December’s previous $122m record, gross receipts for this segment were also up by more than 50% over February 2021.

Combined total adjusted gross receipts came to $106.61m, which includes $110.56m from internet casino gaming minus a $3.95m loss for online sports betting.

Operators submitted $22m in taxes and payments to the State of Michigan. Broken down, $21.6m was paid in iGaming taxes and fees, while $360,354 came from online sports betting taxes and fees. Tribal operators reported making $2.3m in payments to governing bodies.

Detroit’s casinos, meanwhile, paid $6m in internet gaming taxes and fees, and $221,194 in online sports betting taxes and fees.

For the first two months of 2022, internet gaming adjusted gross receipts totalled $219.7m, while aggregate internet sports betting adjusted gross receipts were $15.2m.

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