Being in the top five Michigan online casinos is a profitable position. Throughout the state’s online gambling history, the top five online casinos have generated 80.9% of the income.
Golden Nugget Casino Michigan is doing its utmost to maintain its fifth-place ranking. Still, it will have some competition this year from Caesars.
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In 2023, the Golden Nugget is Expected to Invest $80 Million in Michigan
Golden Nugget Casino Michigan has firmly established itself in the fifth rank for iGaming income. Golden Nugget’s revenue in the state is $191.7 million. It puts it around $80 million behind BetRivers in fourth place and $44 million over Caesars and WynnBet in fifth place.
Golden Nugget is on track to have its highest year of Michigan online casino revenue in its three years of operation in the state. Golden Nugget has earned $68.5 million in revenue in the first ten months. It made $50.6 million in sales for the entire year of 2021. Golden Nugget Casino earned $72.6 million in Michigan revenue last year.
Golden Nugget is already 13.9% ahead of where it was in the first ten months of 2022 ($60.1 million). Golden Nugget should have roughly $80 million in annual online casino revenue by the end of December.
Caesars Palace is Rapidly Rising in Michigan
Though it will take a long time for anybody to catch Golden Nugget for fifth place in total online casino revenue, Caesars is working hard to keep it within reach.
In August of this year, Caesars Palace Casino Michigan opened its doors. While everything was going on, Caesars also maintained the casino section of Caesars Sportsbook Michigan open. This year, it has resulted in $68.7 million in online casino revenue for Caesars. It is sixth in Michigan for 2023, just ahead of Golden Nugget.
While Caesars still has a long way to go before reaching Golden Nugget status, it has surpassed WynnBet Casino Michigan in lifetime revenue with $147 million. WynnBet’s revenue for the year is only $46.1 million.
Even if Caesars does not generate another dime in iGaming revenue this year, it has already achieved a new yearly revenue record. Caesars made $66.2 million in revenue last year. Caesars Palace/Caesars is 25.6% ahead of its target for the first ten months 2022 ($54.7 million). Caesars is also aiming for $80 million in revenue this year.
Michigan’s Top Six Operators are Making Room at the Top
Even though 2023 will be a record year for online casino revenue in Michigan, we are witnessing a wider divergence amongst operators. In October, just six of the 15 online casino businesses had more than $5 million in monthly revenue. The lowest nine were all worth less than $3.4 million.
These six operators are increasing the revenue gap between themselves and their colleagues below. It should come as no surprise that these operators rank high in terms of overall game count, along with jackpot offers.
The leading six online casinos for 2023 are as follows:
- BetMGM Casino Michigan
- FanDuel Casino Michigan
- DraftKings Casino Michigan
- BetRivers Casino Michigan
- Caesars Palace Casino Michigan
- Golden Nugget Casino Michigan
If it comes to overall slot offers and jackpot offerings, those six control six of the top eight places. As Michigan’s online casino income continues to grow, the top six will continue to profit the most financially.