Industry

BetMGM is organizing qualifiers ahead of the BetMGM Poker Championship in Las Vegas this June. Michigan players can register to participate in the qualifiers and win a prize package of $6,500 inclusive of tournament tickets, hotel accommodation and travel.

Michigan online casinos generated $159 million in gaming revenue in April, the second-highest monthly revenue figure in the history of the state. Lifetime iGaming taxes have also crossed $850 million and may top $1 billion by September 2023.

Michigan has once again experienced a decline in its sports betting handle for the month of April. However, the state saw a general positive growth in its sports betting revenue, with FanDuel and DraftKings leading the charge.

Fanatics Betting and Gaming has acquired the gambling company PointsBet for $150 million. The deal is pending shareholder approval and regulatory requirements. Fanatics will take over PointsBet's operations in all states where the company operates, including Michigan.

The Michigan Wolverines men’s lacrosse team has made history by participating in their first ever NCAA tournament. The team marked their debut with a win over Cornell and will now face championship favorites Duke in the quarter finals.

Many Michigan tribes are starting to include legal cannabis production and sale into their business operations. This means tribes will now combine both casino and recreational marijuana profits for the use of their indigenous peoples.

Reports have shown that the Michigan gambling industry contributes one of the highest tax revenues to the state, after it generated $1.96 billion into state coffers in 2022. Revenue from gambling taxes is spent mostly on the School Aid Fund.

Nine Wolverines players were selected in the 2023 NFL Draft, with players joining top NFL teams such as the Seahawks, Cowboys, and Bengals. Coach Harbaugh also hit a milestone as players across all positions have been picked during his tenure.

Detroit may be home to the nation’s first cannabis casino with The REEF. Although the business is yet to get license from the MGCB, it already offers token coins and cannabis vouchers for casino games.

The Kentucky Derby kicks of the Triple Crown event on May 6. Bettors in Michigan can experience the thrill of one of the world’s most prestigious races by wagering on the FanDuel app.