After we reported on Michigan’s record-breaking start to the year for iGaming and sports betting revenue, it seems that February hasn’t lived up to these lofty heights with declines across the board.
The total gross receipts for the month reached $268.5 million, which is still a solid number, but it does mark a 18.9% decline from January.
This is still a 22.9% year-over-year increase compared to February 2024, so there shouldn’t be too much panic around the figures, it just shows how prosperous January 2025 really was
iGaming remained the primary revenue driver, generating $209.1 million in adjusted gross receipts (AGR) which is again a respectable increase from the previous year, but down 10.3% from January’s record-setting $248.2 million.
In contrast, sports betting took a significant hit, with gross sports betting revenue falling to $46 million, a 50.2% decline from January’s $83 million
The total sports betting handle (amount wagered) declined 31.6% to $379.8 million, down from $555.2 million in January.
This decline is consistent with seasonal trends, as sports betting activity typically dips following the NFL playoffs and Super Bowl surge.
Retail sports betting performance in Detroit
As you might have expected from the above numbers, retail sportsbooks at Detroit’s three casinos also saw declines:
- MotorCity Casino led in sports betting handle ($3.1 million) and revenue ($566,300)
- MGM Grand Detroit reported a $2.6 million handle and $202,100 in revenue
- Greektown Casino had a $2.6 million handle but just $47,200 in revenue
These sportsbooks in Michigan continue to struggle against the dominance of online betting platforms, which, as you would expect in today’s world, account for the vast majority of the state’s sports betting market.
Regulatory actions and market outlook
While operators adjust to seasonal betting trends, Michigan regulators remain active in cracking down on illegal gambling operations.
On March 6, the Michigan Gaming Control Board (MGCB) issued cease-and-desist orders to five offshore operators violating state laws.
Looking ahead, March Madness is expected to drive a rebound in sports betting activity, while iGaming continues to show long-term growth potential.
As Michigan remains one of the largest regulated iGaming markets in the US, the businesses in this sector will likely focus on maintaining engagement and adjusting promotional strategies to sustain 2025 jumping off point.
