Golden Nugget knows where its bread is buttered. Ojibwa Casinos and Keweenaw Bay Indian Community’s online operators continue to improve their Michigan online casino products.
It has resulted in a record-breaking year for Golden Nugget’s online casino in the state. However, its online sportsbook remains near the bottom.
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Golden Nugget Casino Michigan will Increase by 15% in 2023
Golden Nugget Casino Michigan is increasing dramatically in 2023, as seen with many other Michigan online casinos. Golden Nugget has earned $62.1 million in revenue through the initial nine months of the year. That alone puts it significantly ahead of the $50.6 million Golden Nugget made in total for 2021.
Golden Nugget collected $53.7 million in the first nine months of 2022. So far, the operator’s revenue is growing 15.6% through 2023. Golden Nugget is on track to easily surpass last year’s total revenue of $72.6 million.
Although September was a busy month for Michigan online casinos, Golden Nugget’s highest revenue month was August. That month, Golden Nugget earned $7.22 million in revenue, surpassing the previous high of $7.21 million set in January.
Golden Nugget is Expanding its Gaming Library
Golden Nugget has been expanding its online gaming collection. Golden Nugget had 840 distinct slot possibilities at the beginning of November. That ranked seventh among all online casino operators in the state. It also has 44 jackpot slots, which places it sixth among state providers.
It represents an increase of nearly 200 slot games over March, when Golden Nugget provided only 634 slots; in addition to slots, Golden Nugget Casino Michigan offers 50 distinct table games, 15 live dealer games, and six exclusive games.
The exclusive possibilities are Golden Nugget Megaways, Golden Nugget Stepper, Golden Nugget Video Slot, and Hyper Strike. Golden Nugget was also the first in Michigan to provide quick scratch cards on their online casino. The first Michigan online casino games to be included in the “scratchers” category were Foxin’ Wins Reveal and Gorilla Go Wild Reveal.
Golden Nugget Does Not Prioritize Sports Betting
As much as Golden Nugget has invested in its online casino, it is unconcerned about its budding Michigan online sportsbook. In September, Golden Nugget finished last among the 14 online operators in terms of handling ($1.15 million) and revenue ($9,356).
In September, they accounted for only 0.25% of the state’s online handle market share, a month that was a watershed moment for Michigan’s sportsbooks.
Golden Nugget’s handle was $10.6 million through the first nine months of 2023, representing a 29% increase over 2022 ($8.2 million). However, revenue was down 60.1% during the same period, only $299,734 for 2023 and $751,045 for the first nine months of 2022.
So, while there has been more excellent activity this year, it needs to translate into higher revenue, contrary to what we see in the state as a whole. Despite a 5.3% decrease in the handle, Michigan online sportsbooks are up 7.5% in revenue for 2023.