Industry

Michigan online casinos posted $150.6 million in May 2023. This revenue emerged in the lifetime top five for Michigan iGaming sites. Michigan casinos are also en route to generate up to $1 billion in tax revenue this year.

Fanatics Betting and Gaming has now submitted an improved bid of $225 million in a bid to outshine DraftKings as favorite to purchase the assets of PointsBet US. Shareholders are set to vote on the bid on June 30

May was a slightly negative month for Michigan sports betting as the wagering handle slumped by 9.7% from last month to $305.3 million. However, FanDuel solidified its position as Michigan’s sportsbook leader collecting 17.2% of its wagers.

The NBA Draft 2023 has finally been completed and 19-year-old Victor Wembanyama emerged top pick for the San Antonio Spurs. Ausar Thompson also emerged 5th draft pick for the Pistons, alongside Marcus Sasser, who came in 31st pick.

DraftKings has made a surprise bid for the acquisition of PointsBet, making the former deal with Fanatics more precarious. DraftKings is also offering $45 more than Fanatics, and PointsBet has stated that it would consider the bid.

The Michigan Gaming Control Board released the latest figures from gambling revenue in the city of Detroit. MGM Grand Detroit led all other retail venues both in terms of casino gaming and sports betting revenue.

Michigan online casinos have been working tirelessly to provide more games to customers in the Wolverine state. As at the start of June, two major operators in the state have crossed 1,000 total games in their collection.

Caesars Sportsbook has released odds for participating teams in the upcoming Big Ten Championship. These betting odds are available to players to make futures bets on the conference and have a sense of the possible performance of teams.

Caesars Sportsbook and Michigan State University have finally called off the controversial sports betting partnership deal between them. The news of the termination is coming months after regulatory action, stakeholder backlash and several petitions followed the deal.

Sault Ste. Marie, the tribal owners of Kewadin Casinos have announced that they will be renovating their biggest retail casino location in Michigan. The project is expected to cost millions of dollars and is scheduled for completion in 2024.