The Michigan Gaming Control Board reported $196.7 million in gross internet casino revenue for August on Tuesday, the third-highest total in state history since launching in January 2021.
Year-over-year revenue surged 29.2% compared to last August as winnings surpassed $190 million for the fifth time in the past six months. That stretch started with a national record $215.1 million in March, and the only other month better came in May with $198.6 million. August's revenue was also up 2.7% compared to the $191.4 million reported for July.
After the 10% in deductions allowed for operators, the state was eligible to levy taxes on $176.9 million in adjusted gross revenue. That resulted in $36.9 million in state taxes, and an additional $9.1 million in receipts for the state of Detroit. The state agency also reported $4.6 million in disbursements to tribal jurisdictions for August, lifting the year-to-date total to $34.4 million.
All-time gross revenue surpassed $6 billion with August's figures, and the $1.55 billion generated in the first eight months is 24.8% higher than the same span last year.
BetMGM Again Keeps FanDuel at Arm's Length
After some early year hiccups in falling behind FanDuel in March, BetMGM led all platforms for the fourth straight month with $52.5 million in gross revenue. That was up 19.1% from last year as BetMGM cracked $50 million for the fifth time in 2024.
It was also the second straight month it outperformed FanDuel by more than $4 million, stretching the year-to-date gap between the two to $14 million in gross revenue. BetMGM's $405.7 million in year-to-date winnings is 1.8% higher than last year. It's also $1.8 million shy of $2 billion in total gross revenue.
FanDuel checked in with $48.4 million, a 45.7% bounce up from last August as it cleared $40 million for the 10th consecutive month. Its $391.8 million in calendar-year revenue represents an increase of 59% from 2023, and the $145.4 million increase in terms of dollars accounts for more than 47% of the $307.4 million in revenue growth statewide.
DraftKings rounded out the podium spots with $36.6 million in revenue, an increase of 30% from 12 months prior. It was also down 1.2% from July, but the $293.2 million claimed in the first eight months of 2024 is a 31% year-to-date increase from 2023.
BetRivers, Caesars Palace Set New Highs
It has been a banner 2024 for both BetRivers and Caesars Palace Online as they vie for the No. 4 spot in revenue among Michigan's 15 internet casino platforms. BetRivers crossed the $13 million threshold for the first time, topping the benchmark by $29,330 as revenue soared 23.6% above last August's total. BetRivers has reached eight figures in 12 of the past 13 months, a run that started in August 2023 with a then-record $10.5 million.
Caesars Palace eclipsed $12 million for the first time as its $12.6 million haul was 84.1% better than last August. At $91 million in gross winnings this year, it has already surpassed its 2023 full-year total of $87.4 million, with year-to-date revenue up 63.7%. Caesars first passed $10 million in January and has reached eight figures for eight months running.
Fanatics Casino was denied a revenue record for the sixth consecutive month as its $3.7 million in winnings represented a 6.9% decline from January. August's figure, however, still ranked third out of six full months of operations since entering Michigan in late February. The $21.7 million accrued by Fanatics from March through August is more than double the $8.5 million claimed by predecessor PointsBet.
Detroit's three internet casino platforms combined for $105.1 million in gross revenue, up 32.3% from last August. Their tribal counterparts totaled $91.6 million, an increase of 25.8%.
