The Michigan Gaming Control Board reported $191.4 million in gross internet casino revenue for July on Tuesday, the fifth straight month with year-over-year revenue growth surpassing $30 million.
July marked the fourth-highest monthly revenue figures all-time, with all four totals above $190 million coming in the last five months. Operator winnings climbed 24.6% compared to last year and were 4.5% higher than the $183.2 million reported in June.
Adjusted gross revenue totaled $172.3 million, and the state redirected close to $36 million of that amount to its tax coffers. Separately, the City of Detroit collected $8.8 million worth of receipts, and jurisdictions with tribal online operators were given $4.5 million in disbursements.
BetMGM Gains Separation from FanDuel
BetMGM led all online casinos in July with $50.7 million in gross winnings. It was the third straight month the MGM Grand-tethered platform was atop the revenue list, and it was also the third straight month it lengthened the gap from second-place FanDuel.
BetMGM’s year-over-year winnings increased 3.5%, and the operator snared $4 million more than the $46.7 million FanDuel accrued in July winnings. BetMGM had slender margins of $122,200 in May and $2.3 million in June.
FanDuel, though, still had a revenue increase of 54.1% from July 2023 and is within $10 million of BetMGM in gross revenue for 2024 with $343.4 million. FanDuel also extended its streak of $40 million in monthly revenue to nine — a run that started when it accomplished that feat for the first time last November.
Hollywood’s year-long revenue swings continued in July, as its $4.4 million in winnings was up 22.4% from June. PENN Entertainment’s Greektown Casino-tethered platform has alternated between month-over-month advances and declines throughout 2024.
July’s Hollywood figure also represented a 23.5% increase from predecessor Barstool‘s $3.6 million from last July. The online skin has generated $32.7 million in the first seven months of 2024, up 25.7% compared to last year.
DraftKings Continues to Top Tribal Tethers
DraftKings had a strong July with $37.1 million, its third-highest revenue haul of 2024 behind its record $40.2 million reported for March and up 29.5% from last year. The $256.6 million in year-to-date winnings represents an increase of 31.2% from the first seven months of 2023 and has already surpassed its full-year 2022 total of $248.3 million.
Fanatics Casino was the lone operator in Michigan to report an all-time monthly record revenue total, clearing $4 million for the first time since entering the Wolverine State in late February. Fanatics has surpassed $3 million in gross revenue in each of its first five months of operations in Michigan after predecessor PointsBet did not reach $2 million until last October.
BetRivers narrowly missed bettering its record of $12.8 million set in March, coming up $71,500 short. It has topped $12 million in gross winnings for six consecutive months and reached eight figures in 10 of the last 11.
Caesars Palace Online also made a strong push at its all-time high, with the $11.5 million in July revenue falling $366,000 shy of its record of $11.8 million established in May. It was the seventh consecutive month Caesars cleared $10 million in winnings, and with $78.4 million in revenue thus far, it has a strong chance of surpassing its full-year 2023 revenue total of $87.4 million when August’s figures are reported.
Overall gross revenue from tribal-tethered platforms totaled $89.6 million in July, up 26.7% from last year and 4.1% from June.