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Michigan Reports Record iGaming Revenue for November, Highlights 2024 Impact

iGaming,-sports-betting-operators-report-$284.3M-in-November-revenue,-set-record-with-$650.2M-in-online-sports-betting-handle (1)Michigan’s gaming industry reached unprecedented heights in November 2024, with a record $284.3 million in combined internet gaming (iGaming) and sports betting gross receipts. This figure, reflecting a 12.1% increase from October, was announced by the Michigan Gaming Control Board (MGCB). The strong performance highlights the continued growth of Michigan’s regulated gaming sector.

iGaming gross receipts for November totaled $226.0 million, surpassing the previous high of $220.7 million recorded in October. Internet sports betting gross receipts also saw a significant jump to $58.3 million, compared to $33.0 million in the prior month. The total sports betting handle for November reached $650.2 million, the highest reported to date, reflecting a 16% increase over October.

Adjusted gross receipts (AGR) for November show the sector’s momentum, with $240.4 million reported across iGaming and sports betting activities. iGaming AGR rose to $203.3 million, marking a 2.4% month-over-month increase, while internet sports betting AGR climbed to $37.1 million, up $27.2 million from October. Compared to the same period last year, iGaming AGR grew by 28.9%, with internet sports betting receipts rising by $36.8 million.

Contributions to State and Local Economies

The gaming industry’s success continues to bolster Michigan’s economy. In November, operators paid $44.4 million in taxes and fees to the state, with $42.5 million stemming from iGaming and $1.9 million from internet sports betting. The three Detroit casinos contributed an additional $11.2 million to the City of Detroit in wagering taxes and municipal fees, with tribal operators making $5.2 million in payments to local governing bodies.

For the entire year, the MGCB reported over $501.4 million in contributions to Michigan’s School Aid Fund, supporting K-12 public education. Of this total, $388.5 million came from iGaming, $12.9 million from internet sports betting, and $100.5 million from casino wagering taxes. Other contributions included $4 million to the First Responder Presumed Coverage Fund and $3 million to the Compulsive Gambling Prevention Fund. The “Don’t Regret the Bet” responsible gaming campaign also received $3.75 million in funding.

Detroit’s casinos collectively paid $264.8 million in wagering taxes in 2024, adding to the $3.91 billion in total payments made to the city since 1999. Charitable gaming also thrived, with Millionaire Parties raising $5.35 million for Michigan charities from November 2023 to November 2024.

Enforcement and National Recognition

The MGCB reinforced its commitment to regulatory integrity by removing 206 illegal gambling machines in 2024 and issuing six cease-and-desist letters. These actions, supported by tips from Michigan residents, highlighted the agency’s proactive stance against illegal gaming operations. The MGCB’s efforts earned national recognition, including being the first regulator to secure compliance from Bovada through a cease-and-desist order.

MGCB Executive Director Henry Williams was named 2024 American Gambling Awards Regulator of the Year for his leadership. Reflecting on the year’s achievements, Williams said, “Our success this year reflects the dedication and hard work of our team, as well as the trust and collaboration of the communities we serve. We are committed to ensuring that Michigan’s gaming industry continues to thrive in a responsible and sustainable manner.”

Outlook for 2025

With a strong foundation of 15 authorized operators offering iGaming and 12 providing internet sports betting, Michigan’s gaming industry is well-positioned for sustained growth in 2025. The MGCB remains focused on ensuring regulatory compliance, supporting community initiatives, and maintaining Michigan’s status as a leader in the gaming sector.

Source:

”Michigan Gaming Control Board announces significant impact, revenue contributions to state funds in 2024”, michigan.gov, December 17, 2024.

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Macau’s November Gaming Tax Revenue Surges to $1 Billion

Macau-taxes-in-November-2024-Macau has solidified its position as a global leader in the gaming industry, reporting MOP$8.0 billion (US$999 million) in gaming tax revenue for November 2024. This figure, released by the Financial Services Bureau (DSF), represents a 6.4% increase from the same period last year and a significant 20.3% jump from October’s tax revenue.

This surge correlates with Macau’s October gross gaming revenue (GGR), which climbed to a post-pandemic record of MOP$20.8 billion (US$2.60 billion). This performance, driven by robust visitor numbers and record-breaking activity during the National Day Golden Week holiday, underpinned the government’s fiscal achievements.

From January to November 2024, Macau has collected a total of MOP$81.05 billion (US$10.1 billion) in gaming taxes, representing a 37.2% year-on-year increase. This total accounts for 96.9% of the government’s FY24 gaming tax estimate of MOP$83.6 billion (US$10.4 billion), positioning Macau to exceed its annual financial targets.

Overall government revenue during this period reached MOP$100.5 billion (US$12.5 billion), of which gaming taxes comprised a remarkable 80.6%.

Record-Breaking October Revenue Drives Fiscal Success

The tax achievements stem from a highly successful October, where Macau’s gaming operators generated MOP$20.8 billion (US$2.60 billion) in GGR. According to the Gaming Inspection and Coordination Bureau (DICJ), this represents a 6.6% year-on-year increase and a 20% rise from September’s MOP$17.3 billion (US$2.16 billion). The October figures also surpassed the previous post-pandemic high of MOP$20.2 billion (US$2.52 billion) recorded in May 2024.

The surge in revenue coincided with the National Day Golden Week holiday, which ran from October 1 to 7. Visitor numbers during the week reached 993,117, marking a 1.9% increase over 2019 figures. Hotel occupancy rates peaked at 98.5% on October 3 and 4, averaging 94.5% throughout the holiday period. Analysts have noted that market strength extended beyond Golden Week, prompting many to revise their revenue forecasts upward.

For the first 10 months of 2024, Macau’s GGR totaled MOP$190.1 billion (US$23.7 billion), reflecting a 28.1% growth compared to the same period in 2023. This sustained momentum highlights Macau’s ongoing recovery and resilience in the global gaming sector.

New Illegal Gaming Law Bolsters Regulatory Oversight

In parallel with its financial successes, Macau has taken significant steps to strengthen its gaming regulatory framework. The new Illegal Gaming Law, effective October 29, 2024, introduces strict penalties for unauthorized gambling activities, including “betting under the table” and illegal currency exchanges.

Key provisions of the law target side betting, a prevalent issue in Macau’s casinos, with offenders now facing up to eight years in prison. Individuals participating in any form of unlicensed gambling could face six months of imprisonment. The legislation also imposes severe penalties on those conducting illegal foreign currency exchanges within integrated resorts, with sentences of up to five years in prison.

To enhance enforcement, the Judiciary Police have been granted expanded investigatory powers, including the ability to conduct undercover operations and night-time searches. These measures address the nocturnal nature of gambling crimes, allowing for more effective intervention during peak activity hours.

The law also criminalizes illegal online gambling and unlicensed lotteries, ensuring that all gaming activities in Macau remain strictly regulated. Corporations engaged in unauthorized gambling can face fines of up to MOP$18 million (approximately US$2.25 million) and judicial dissolution, with company representatives held personally accountable if implicated.

Source:

“Macau government collects US$1 billion in gaming tax revenue in November”, asgam.com , December 12, 2024.

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Missouri’s Sports Betting Initiative Heads to November Ballot

Missouri-wagering-initiative-will-be-on-November-ballotIn November, Missouri voters will have the opportunity to decide the fate of sports betting within the state. After a long history of failed attempts to pass sports wagering legislation, a judge’s ruling last Friday, September 6, 2024, ensured that the sports betting ballot initiative would remain on the state ballot.

If passed, the initiative would legalize both digital and retail sports betting in Missouri. The initiative has garnered strong support from Missouri’s professional sports teams and residents. Currently, many bettors from the Show Me State travel to neighboring states such as Illinois and Kansas to place their wagers.

Financial and Regulatory Benefits for the State

With neighboring states like Arkansas and Kansas already legalizing sports betting, Missouri is losing out on a potential revenue stream. Legalizing wagering would not only allow residents to place bets from the comfort of their own state but also create new economic opportunities through tax revenue and licensing fees.

The proposed initiative places sports betting under the regulation of the Missouri Gaming Commission. Both digital platforms and physical venues such as casinos and professional sports stadiums would offer sports wagering, with the commission overseeing operations to ensure compliance with state laws.

The measure also includes provisions for responsible gambling, which would be supported by a minimum of $5 million in annual tax revenue. Any remaining tax revenue from sports betting would be directed toward funding education, including elementary, secondary, and higher education programs.

This initiative promises significant economic benefits, with proponents estimating that the state could see tax revenues ranging from $0 to $28.9 million annually, depending on deductions and other variables.

A recent poll conducted by Saint Louis University and YouGov PLC found that approximately 50% of Missouri residents support the sports betting initiative, while 30% oppose it, and 20% remain undecided.

Judge’s Decision Clears Path for Voter Approval

On Friday, Cole County Circuit Judge Daniel R. Green ruled that the sports betting ballot initiative would remain on the November ballot. This decision followed a seven-hour hearing in which political consultants argued that the initiative should be disqualified due to allegedly invalid signatures.

Judge Green ultimately ruled that the plaintiffs failed to present enough evidence to prove that 95 signatures were improperly verified by the Secretary of State’s office. He emphasized that lawsuits aimed at removing certified ballot initiatives are “highly disfavorable.” By keeping the sports betting initiative on the ballot, voters now have the opportunity to decide its future.

A Crucial Vote for Missouri’s Future

In addition to the sports betting initiative, Missouri voters will also weigh in on Amendment 5, which would authorize the Missouri Gaming Commission to issue an additional gambling boat license for the Lake of the Ozarks region. Both initiatives have the potential to reshape the state’s gaming landscape and provide new revenue streams for public services.

As Missouri looks to join the growing list of states that have legalized sports betting, the November vote will be a pivotal moment for the state’s economy and gaming regulations. If passed, the initiative will bring much-needed tax revenue while ensuring that sports wagering is conducted in a responsible and regulated manner.

Source:

“Sports betting will be on Missouri ballots this November” by Caroline Pettey and Joey Schneider, newsnationnow.com, September 8, 2024.

“Missouri wagering initiative will be on November ballot, judge rules” by Jill R. Dorson, igamingbusiness.com, September 8, 2024.

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Michigan iGaming Operators Report Record-Breaking November Revenue

The Michigan Gaming Control Board, the regulator in charge of the gambling and sports betting market in the American state, reported that the licensed operators it oversees managed to generate solid revenue in November 2023.

According to the state regulators, commercial and tribal operators in the Great Lakes state reported a total of 209.2 million dollars in revenue (gross receipts and gross sports betting receipts) in November. The result marks an increase of 1.9 percent compared to October 2023.

The iGaming sector was the one that caught the eye with gross receipts of 175.3 million dollars, the highest number to date. The previous record was 171.8 million dollars and it was recorded in March 2023. In October 2023 gross receipts from online casinos amounted to 160.3 million dollars.

Gross sports betting receipts for November 2023 amounted to 33.9 million dollars, a sharp decrease from the 45 million dollars that were generated by this sector in October 2023.

Combined total adjusted gross receipts for November were 158.1 million dollars, with almost the entire sum coming from iGaming: 157.8 million dollars, while sports betting only accounted for 294,810 dollars. The adjusted gross receipts figures show an increase of 9.4 percent for iGaming and a drastic decrease of 98.7 percent for online sports betting compared to October 2023.

Tens of Millions of Dollars in Taxes

The total sports betting handle for online operators amounted to 568.8 million dollars in November, an increase of 6.7 percent compared to October 2023 and also the highest online sports betting handle to date in the state of Michigan.

Licensed operators in the state submitted 33.6 million dollars in taxes and payments to the State of Michigan during November, with most of the sum (32.9 million dollars) coming from internet gaming taxes and fees. Internet sports betting taxes and fees amounted to 740,056 dollars in the month of November, while the three land-based casinos in Detroit paid the city 8.4 million dollars in wagering taxes and municipal services fees during November. Tribal operators also reported making payments worth 4.1 million dollars to governing bodies in November.

At the end of November 2023 there were a total of 15 commercial and tribal operators operating in Michigan in iGaming and/or online sports betting. Fourteen of these operators were active in internet sports betting while fifteen were offering iGaming services.

Source: “Michigan iGaming, sports betting operators report $209.2M in November revenue“. Michigan Gaming Control Board. December 19, 2023.

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