Five Months In, Michigan Online Casino Market Resembles Big Three Model
Online casino revenue in Michigan was flat for the third consecutive month. BetMGM still leads the market with 38% market share and $36.1 million in May. FanDuel and DraftKings are second and third in terms of market shares and revenue. The state does not break poker revenue out separately from casino data. PokerStars MI and BetmGM Poker MI are licensed to provide online poker in the state.
The remaining field of ten operators in Michigan made $26.8 million in revenue in May. Rush Street is the largest operator in the state with 7% market share and $6.6 million revenue. FoxBet/PokerStars saw its market shares decline for the fourth consecutive month to 4%, down from 5% in April and 7%. Penn Sports/Barstool saw 3.5% share, down slightly from April. Parx Interactive and PointsBet joined the fray in both April and May and made revenue of about $506k and $612k respectively.