Michigan Commercial and Tribal Gambling Operators Report Combined $2.3 Billion in Annual Gross Receipts for 2023 — CasinoGamesPro.com

Michigan Commercial and Tribal Gambling Operators Report Combined $2.3 Billion in Annual Gross Receipts for 2023 — CasinoGamesPro.com

Michigan Commercial and Tribal Gambling Operators Report Combined $2.3 Billion in Annual Gross Receipts for 2023The Michigan Gaming Control Board (MGCB) has published information on the state’s commercial and tribal iGaming and sports betting operators’ annual gross receipts for 2023, which amount to $2.3 Billion. This represents an 18.3% increase compared to 2022. While iGaming gross receipts accounted for $1.9 Billion, online sports betting’s share equated to $420.4 Million.

The annual adjusted gross receipts in 2023 were $1.956 Billion, distributed between $1.733 Billion from iGaming and $223.451 Million from online sports wagering, which was 18.8% higher compared to 2022. The amount of money in bets accepted throughout 2023 was $4.6 Billion.

Internet gaming generated $354 Million in taxes and fees for the State of Michigan, whereas online sports wagering brought in $15.8 Million. The three casino operators in the City of Detroit paid $95.8 Million in wagering taxes and municipal service fees for 2023, whereas tribal operators’ payments totaled $43.1 Million.

As for December 2023, the total iGaming gross receipts and gross sports betting receipts totaled $242.5 Million. There is a marked rise of 15.9% in gross receipts compared to November. Both gross iGaming and sports betting receipts for December reached their highest values to date, with the first totaling $181.4 Million and the second – $61.1 million.

MGCB Keeps Illegal Operators Under Close Scrutiny

MGCB Keeps Illegal Operators Under Close ScrutinyAs of December 2023, 15 commercial and tribal gambling operators have been permitted to offer online gaming and sports betting services in the state. Currently, online sports betting services are provided by 14 commercial and tribal operators, and iGaming services – by 15 operators.

As part of its strenuous efforts to thwart illegal gambling operators in Michigan, the regulatory body has sent cease-and-desist letters to three iGaming operators in October, November, and December. Two of them are based in the US – PredictionStrike Inc. and VGW LuckyLand, Inc., and the third one, Sweepstakes Limited (Stake.us) is headquartered in Cyprus.

PredictionStrike must end its operations in the state due to offering online gambling services without being authorized. The violations of Stake.us included promoting an unlicensed online lottery for customers. Similarly, VGW LuckyLand, Inc. was accused of conducting illegal gambling “by offering an internet game in which a player wagers something of monetary value for the opportunity to win something of monetary value”.

MGCB Executive Director Henry Williams commented on their illegal operations, stating that they “are not welcome in Michigan”. He highlighted the regulatory body’s readiness to limit the presence of such operators, as they “siphon funds away from communities” and “are not paying taxes like a regulated, legal gambling establishment would”.

The gambling companies violated the Lawful Internet Gaming Act, the Michigan Gaming Control and Revenue Act, and the Michigan Penal Code. According to the regulator, the three operators have taken the necessary steps to block access of Michigan residents to their websites.

Author: Edward Adams