Articles by: Jessica Aletor

Michigan's online casinos achieved significant milestones in August, surpassing $1 billion in iGaming tax revenue faster than any other US state. August also marked the sixth consecutive month that online casinos in the state generated more than $150 million revenue.

Michigan sports betting saw its lowest year-over-year margin of decline in August after months of double-digit dips. The state also saw a reduction to 14 sportsbooks yet posted a revenue of $23.2 million, greater than July 2023.

Golden Hearts Games, an unlicensed charitable gaming casino based in Massachusetts, has been shut down by the Michigan Attorney General. The brand signed an Assurance of Discontinuance to stop offering its services to Michiganders moving forward.

Fanatics has rebranded PointsBet Casino and Sportsbook in Michigan to “PointsBet, A Fanatics Experience” after failing to include the state in its initial plans for a rebrand. However, regulatory approval is still pending for Fanatics in Michigan.

In August, Detroit's sports betting operators faced a challenging month, with a 46% decline in handle and revenue plummeting by 87.6%, compared to 2022. In contrast, Detroit casinos crossed $850 million in year-to-date revenue, with Hollywood Casino boosting profits.

MGM Grand Detroit has responded swiftly to a large-scale cyberattack by shutting down its US-wide computer systems, impacting online operations and services. Its parent company, MGM Resorts is also investigating the issue alongside law enforcement.

Earlier this year, several U.S. states, including Michigan, called on the DOJ to combat illegal offshore gambling, citing risks and lost tax revenue. The DOJ's response offered vague assurances but no specific actions, disappointing states seeking federal assistance.

Despite declining wagering handles, Michigan's sports betting industry has shown consistent revenue growth. In July, online sportsbooks generated $22.5 million in revenue from a $200.8 million handle. This trend of increasing revenue despite lower handles could lead to a new record.

In July, Michigan's online gambling industry defied summer slowdown expectations, raking in $153.6 million in revenue, marking its fourth-best month since inception in 2021. The state also crossed $1 billion in total revenue for the year.

The Michigan Gaming Control Board has granted 1X2 Network a gaming supplier license, expanding the state's online gaming potential. 1X2 Network's entry brings four in-house studios and exclusive games, enhancing Michigan's online casino offerings.