It was a slow second month of the year for retail Michigan sports betting and casinos, with decreases in handle, revenue, and tax revenue.
The state’s retail sports betting handle at the three Detroit casinos fell by 29.3%, month-over-month, from $35.865 million in January to $25.373 million in February, in a trend that was emblematic of the Michigan market overall during the month.
Similar Michigan gambling trends could be found when it came to February revenue, which is the total qualified adjusted gross receipts.
Those went from $1.933 million in revenue during January to -$872,552, while the state’s taxes collected went from $73,070 during the first month of the year to a negligible amount in February.
Michigan Retail Casinos See Small Declines
The total adjusted gross receipts at Michigan casinos also fell, by 3.4%, from $98.971 million in January to $95.591 million in February.
Michigan’s state and city wagering taxes also fell by 3.4% during February, with the former going from $8.016 million to $7.742 million, while the latter fell from $11.777 million to $11.375 million.
It’ll be interesting to keep an eye on whether the state’s retail sportsbooks and land-based casinos, including the tribal casinos, see an uptick in traffic, now that several casinos, such as MotorCity, Gun Lake, Bay Mills, and Greektown have rescinded their mask mandates.
Such reversals could give Michigan’s retail sportsbooks and casinos reason to rejoice, especially with March Madness and warmer weather motivating more people to leave their homes and venture into a sportsbook or casino facility.