Share
The February slow down proved to be temporary as Michigan online casinos set an all-time high for revenue in March. The Michigan Gaming Control Board (MGCB) reported that operators produced $260.5 million in earnings last month.
The new mark in March shattered the previous record, which came in January, when operators generated $248.2 million. March’s total represents a 17% month-over-month increase and a 21.1% year-over-year increase.
Michigan out-paced New Jersey, who also set a new record at $243.9 million. Pennsylvania is expected to top both markets in the coming days.
Photo finish among market leaders
It what appears to be a heavyweight bout, both FanDuel have been throwing haymakers to start the year. March, once again, saw another close finish.
BetMGM reclaimed the No. 1 spot after losing it in February. It produced nearly $69 million in revenue compared to FanDuel’s $68.1 million.
BetMGM was able to build on its small lead as the Q1 came to a close. The results are as follows through the first three months:
- BetMGM: $195.7 million
- FanDuel: $192.7 million
The two operators are expected to jockey back and forth the rest of 2024.
DraftKings rebounds in March
DraftKings, the No. 3 operator in the Great Lakes State, produced $41.1 million in earnings last month, which is right in line with expectation.
In February, the platform generated an uncharacteristic $27.8 million in revenue. That could have been due to a customer winning a $9.28 million progressive jackpot in late February, which set an all-time record in the US.
The current DraftKings progressive jackpot is currently sitting at $9.56 million as of Thursday morning. When that hits eventually this month, it’s possible revenue figures for April could suffer, too.
Fanatics makes another push
For being a relatively new operator, Fanatics Casino is certainly making its presence felt in the market. The operator posted another personal record of $9.2 million in March.
Fanatics has recorded the following earnings total over the last several months:
- December: $7.9 million
- January: $7.7 million
- February: $8.2 million
- March: $9.2 million
The next step for Fanatics is to clear the $10 million hurdle.
Hollywood makes impressive leap
new standalone platform in January with big expectations. Those are starting to pay off in a big way.
The operator recorded $7.3 million in March revenue. It has steadily increased since the launch:
- December: $5.6 million
- January: $6.3 million
- February: $5.2 million
- March: $7.3 million
Hollywood is hoping that February was a hiccup, and the company can build on March’s performance as it continues to ascend.
March 2025 online casino revenue by operator
| Licensee | Online Brand | Revenue | Promos | Taxes |
|---|---|---|---|---|
| MGM Grand Detroit | BetMGM | $68,978,831 | $4,138,730 | $18,965,730 |
| MotorCity | FanDuel | $68,127,045 | $4,087,623 | $18,731,531 |
| Bay Mills | DraftKings | $41,147,969 | $2,468,878 | $10,830,145 |
| Little River Band of Ottawa | BetRivers | $17,328,006 | $1,039,680 | $4,560,731 |
| Grand Traverse Band of Ottawa and Chippewa | Caesars | $16,818,512 | $0 | $4,811,317 |
| Keweenaw Bay | Golden Nugget | $11,838,560 | $710,314 | $3,115,909 |
| Lac Vieux Desert Band of Lake Superior Chippewa | Fanatics | $9,195,645 | $599,303 | $2,406,976 |
| Greektown | Hollywood | $7,288,860 | $437,332 | $1,980,532 |
| Pokagon Band of Potawatomi | Four Winds | $3,937,216 | $236,233 | $886,055 |
| Match-E-Be-Nash-She-Wish Band of Pottawatomi | betParx | $3,610,815 | $216,649 | $786,310 |
| Sagniaw Chippewa | Eagle | $3,379,256 | $337,926 | $676,078 |
| Sault Ste. Marie Tribe of Chippewa | Horseshoe | $3,291,468 | $197,488 | $687,968 |
| Little Traverse Bay Bands of Odawa | PokerStars | $2,664,102 | $159,846 | $550,936 |
| Nottawaseppi Huron Band of Potawatomi | FireKeepers | $2,267,036 | $136,022 | $466,917 |
| Hannahville | SI | $647,623 | $38,857 | $121,753 |
| Total | $260,520,946 | $14,804,880 | $69,578,889 |
