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Michigan's Online Casino Revenue Decreases in February, but Overall Trend Shows Growth for 2023.

Michigan’s Online Casino Revenue Decreases in February, but Overall Trend Shows Growth for 2023.

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Michigan’s online casino industry has been on the rise since its launch in January 2021. However, the revenue generated by the industry took a dip in February 2022, according to the Michigan Gaming Control Board (MGCB). Despite this setback, the overall trend for the industry shows growth for the coming years.

In February 2022, Michigan’s online casinos generated $89.2 million in revenue, a decrease of 7.8% from January’s $96.9 million. The MGCB attributed this decrease to a shorter month and fewer promotional offers compared to January. However, the revenue generated in February 2022 was still higher than that of December 2021, which was $79.7 million.

The MGCB also reported that online sports betting revenue decreased by 4.9% in February 2022, generating $32.5 million compared to January’s $34.2 million. However, online sports betting revenue has shown consistent growth since its launch in Michigan, with a total of $1.1 billion generated since January 2021.

Despite the decrease in revenue for February 2022, the overall trend for Michigan’s online casino industry shows growth for the coming years. The MGCB reported that the state’s online casinos have generated $1.1 billion in revenue since their launch in January 2021, with an average monthly revenue of $89.5 million.

Furthermore, Michigan’s online casino industry is expected to grow even more with the addition of new operators and games. In February 2022, BetMGM launched its online casino platform in Michigan, joining other operators such as DraftKings, FanDuel, and BetRivers.

The MGCB also approved new games for Michigan’s online casinos in February 2022, including blackjack and roulette with live dealers. These new games are expected to attract more players and increase revenue for the industry.

In conclusion, while Michigan’s online casino revenue decreased in February 2022, the overall trend for the industry shows growth for the coming years. With the addition of new operators and games, as well as consistent growth in online sports betting revenue, Michigan’s online casino industry is poised for success in 2023 and beyond.