Michigan igaming operators post record month in August; casinos lag in recovery Cory Roberts, CDC Gaming Reports · September 16, 2021 at 1:10 pm Michigan’s gaming operators generated $113.1 million in revenue from igaming and online sports betting during August, according to a report issued by the Michigan Gaming Commission Thursday. Of the total, igaming accounted for $97.2 million surpassing the previous high of $95.1 million set in March earlier this year. Online sports betting contributed $15.9 million with a handle of $192.3 million. Overall, internet gaming adjusted gross receipts in August increased 5.3% month-over-month. However, analyst Carlo Santarelli with Deutsche Bank noted that “Michigan, as well as New Jersey and Pennsylvania, each of which have icasino products, continue to lag the broader regional gaming complex, with respect to Brick & Mortar GGR performance relative to 2019, by a fairly large margin.” Detroit’s three casinos generated $112.2 million in GGR in August, down 6.4% versus August of 2019 and down 6.4% month-over-month. Online sports betting and igaming launched in Michigan near the end of January 2021 and there are 14 approved operators in the state. BetMGM further increased its igaming share to 40.9% of the overall revenue, up from its monthly average of 37.0%. FanDuel followed with 14.6% in a distant second place, and DraftKing’s 13.0% followed in third. DraftKings took the sports betting handle crown by capturing 31.9% of the online sports betting market share, up from 28.4% in July. FanDuel’s share fell from 29% in July to 24.8% while MGM raised its share from 21.8% in July to 22.7%. Barstool remained in a distant fourth place with 6.8% of the market, down from 7.2%. The four main operators again accounted for 87% of the market as they did in July. Igaming brought $17.9 million in tax revenue for the state while sports betting added another $541k.