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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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US Commercial Gaming Win Hits $66.5B, Third Year of Record Growth

The US commercial gaming industry reached a new annual revenue record for a third consecutive year.

commercial gaming casino revenue
A bustling Las Vegas Strip is seen in April 2023. Commercial gaming in the US reached new highs last year, as gaming revenue hit $66.5 billion. (Image: Las Vegas Sun)

The American Gaming Association (AGA) reported Tuesday that 2023 commercial revenue from brick-and-mortar casinos, riverboats, racinos, iGaming, and sports betting hit a new annual high of $66.5 billion. The mark represents a 10% year-over-year premium.

From the traditional casino experience to online options, American adults’ demand for gaming is at an all-time high,” said AGA President and CEO Bill Miller. “Sustaining our momentum will take unified industry efforts around combating pernicious illegal operators and growing responsible gambling efforts in tandem with the growth of the legal market — both of which the AGA is committed to lead on throughout 2024.”

The 2023 gross gaming revenue (GGR) from commercial operations includes retail slot machines, table games, and sports betting, plus win generated online via internet sportsbooks and interactive casino platforms. The GGR doesn’t include gaming income from tribal casinos or lotteries.

The AGA is the preeminent trade group representing both commercial and tribal gaming interests in DC.

All Verticals Experience Gains

Commercial gaming was up across the board in 2023.

Legacy gaming, or physical slot machines and table games, combined to win $45.82 billion. Legacy revenue in 2022 was $44.19 billion, almost 4% less, or $1.63 billion.

The traditional gaming numbers suggest the ongoing expansion of online options isn’t poaching legacy play. But it’s worth noting that several states either entered the gaming industry or significantly expanded casino operations, including Illinois, Virginia, and Nebraska.

Four new casinos opened in Illinois, including Bally’s in downtown Chicago. In Virginia, Rivers Casino Portsmouth made history by being the first permanent casino to open in the commonwealth. A temporary casino from Caesars in Danville joined Hard Rock’s provisional gaming space in Bristol. Temporary casinos also opened in Nebraska.   

Sports betting, which is legal in almost 40 states, won an all-time best $10.92 billion from online and in-person bettors. Oddsmakers saw their win surge almost 45% from 2022 on a record handle of nearly $120 billion. Handle refers to the amount wagered.

iGaming, which is legal in just six states, including Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, and West Virginia, took more than $6.17 billion from remote players. The online slot and table game win was also a new high.

The Las Vegas Strip led the top casino markets in 2023 with GGR climbing more than 7% to $8.83 billion. Atlantic City was a distant second at $2.85 billion, a smaller 2.5% year-over-year increase. Chicagoland, inclusive of casinos in and around the Windy City and Northwest Indiana, was third at $2.19 billion.

Ups and Downs

Sports betting and the half-dozen iGaming states largely saw revenue from such gaming verticals increase, with many reporting record highs in terms of gross income. Governments were also big winners in 2023, as commercial gaming revenue generated a record $14.4 billion in state and local gaming taxes.

Gaming’s success translates directly to the success of the states, cities, and towns in which we operate,” Miller added. “We are proud to be in 47 US jurisdictions, acting as economic drivers, creating jobs, and providing the funding that makes critical public education programs, infrastructure projects, problem gambling resources, and more possible.”

Of the 25 states that have commercial casinos/racinos, 17 saw legacy play increase from 2022.

The remaining eight, however, experienced year-over-year in-person slot and table declines. Those states were Indiana, Maryland, Mississippi, Michigan, Louisiana, West Virginia, and Florida.

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William Hill Regulatory Failures in the UK Could Set a New Record for 888

Making a deal to purchase William Hill’s non-US gambling assets from Caesars Entertainment might prove to be a nightmare for new owner 888. The bookmaker, one of the largest companies of its kind in the world, is preparing to accept one of the largest fines in history.

The William Hill sportsbook inside Buffalo Bill’s Hotel Casino
The William Hill sportsbook inside Buffalo Bill’s Hotel Casino. The UK arm, which now belongs to 888, is under fire for alleged regulatory failings. (Image: The Nevada Independent)

The Daily Mail reports that sources indicate the UK Gambling Commission (UKGC) could impose a fine of £15 million (US$17.81 million) on William Hill. After receiving new information, The Mail then said the amount could actually be much higher, possibly more than £20 million (US$23.75 million).

That would be substantially greater than the £17 million (US$20.19 million) fine Entain received last year, setting a new record. 888 is reportedly preparing for the worst, already setting aside money to cover the fine.

888’s Downswing

The fine results from violations that fall within the scope of “social responsibility and anti-money laundering obligations.” One source told the media outlet the fine against William Hill could be “north of £20 million.”

For the bookmaker, this would be a huge blow. 888 Holdings is likely to drop off the FTS250 index this month, a stock market index that contains 250 UK-based mid-market cap companies listed on the London Stock Exchange. Since September 2021, its share price has fallen by 85%.

888 bought William Hill last summer from Caesars for £2 billion (US$2.37 billion). In addition, its portfolio includes online casinos and more than 1,000 retail sports betting points.

This isn’t the first time the British operator has run into trouble, and several recent issues are causing the company grief. In January, an investigation began into accounts of VIP customers from the Middle East in relation to suspected money laundering.

888 determined that many of its betting whales were able to deposit and withdraw massive sums of money with virtually no oversight. As a result of the scandal, CEO Itai Pazner immediately stepped down after more than 20 years with the company. Lord Mendelsohn, 888’s chairman, took his place until the board finds a permanent replacement.

Now, everyone is waiting for the company’s fresh financial statement, which 888 will release at the end of March. At around the same time, the company’s CFO, Yariv Dafna, is going to step down.

More Trouble on the Horizon

888 is operating illegally in Austria. At least, that’s what the country’s supreme court has determined. It believes 888 and Flutter have been offering their services in Austria, while Casinos Austria is the only company with a license to do so.

As a result, the court determined that users could file claims with 888 and Flutter to receive reimbursement for their losses. The Financial Times reported a few days ago that more than 2,500 users have already received more than €75 million (US$79.31 million) in compensation from several operators since January.

888 and Flutter also reportedly owe around an additional €34 million (US$35.95 million), which they are allegedly withholding as they fight Austria.

On two occasions since 2017, 888 has had to pay regulatory fines in the UK. Those amounted to £17.2 million (US$20.5 million) in just two penalties, and it doesn’t look like the company will close its checkbook anytime soon.

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