Canada
MICHIGAN SPORTSBOOKS’ HANDLE RISES TO NEARLY $260 MILLION IN JUNE Online sports and casino betting falls in June, but revenue from sports betting makes a significant jump, according to PlayMichigan
Michigan’s online and retail sports betting volume rose slightly in June but remained relatively low as sportsbooks continued to slog their way through the summer slowdown. But with the first significant jump in taxable revenue and an online casino industry that remains a reliable revenue generator, the industry has much to look forward to when summer turns to fall, according to PlayMichigan, which analyzes and researches the state’s regulated online gaming and sports betting market.
“Michigan’s sportsbooks grew so quickly from January through March that the slowdown that has followed might feel more dramatic than the reality,” said Jessica Welman, analyst for the PlayUSA.com Network, which includes PlayMichigan.com. “Sportsbooks remain in excellent position for a ramp up when football season approaches. Until then, they will have to rely on opportunities such as the Olympics and the NBA Finals to stoke interest.”
Michigan’s online sportsbooks accepted $235.1 million in wagers over the 30 days of June, down 1.0% from $237.6 million over the 31 days of May, according to official data released Monday by the Michigan Gaming Control Board. With $24.4 million in retail handle, announced earlier this week, Michigan’s online and retail sportsbooks took in a combined $259.4 million in bets. That total is up 0.7% from $257.7 million in bets in May.
April, May, and June are typically three of the slowest sports betting months of the year, but no major U.S. sports jurisdiction has experienced a steeper decline from March’s highs as has Michigan. June’s combined handle is off 32.4% from the record $383.7 million combined handle in March. By comparison, Indiana’s sports betting volume dropped 22.2% from March to June, and Iowa is down 31.1%.
More importantly, though, gross gaming revenue at online sportsbooks rose 28.2% to $24.9 million in June from a $19.5 million total in May. And June’s online sports betting hold of 10.6% for operators was their best for any full month in Michigan. After promotional credits, online sportsbooks produced $16.8 million in taxable revenue, up from $9.9 million. That yielded $1.4 million in state and local taxes from online betting.
“We’ve been waiting for a bump in taxable revenue that led to a real increase in tax revenue, which we finally got in June,” said Matt Schoch, analyst for PlayMichigan.com. “If there has been a disappointment with Michigan’s launch, it’s that tax revenue gains have lagged. So hopefully, this will continue into the fall, when we know revenue from sports betting will make a big leap forward.”
FanDuel topped the online market in June with a $77.3 million handle, up from $71.2 million in May. That led to a market-best $10.3 million in gross sports betting revenue, up from $9.3 million. June’s action produced $8.1 million in taxable revenue.
DraftKings trailed with $56.5 million in wagers, down from $66.7 million in May. Gross gaming revenue rose to $5.0 million from $1.9 million in May. BetMGM followed closely with $52.1 million in wagers, up from $51.6 million in May. That produced $6.1 million in gross receipts and $4.2 million in taxable revenue.
The online market leaders were followed by:
- Barstool ($16.7 million handle, down from $18.1 million in May; $1.8 million gross revenue, up from $1.1 million)
- PointsBet ($10.2 million handle, down from $11.4 million; $911,170 GGR, down from $1 million)
- William Hill ($7.9 million handle, up from $6.2 million; $598,641 GGR, down from $217,050)
- WynnBet ($5.5 million handle, up from $1.4 million; -$383,777 GGR, down from $168,874)
- Fox Bet ($3.7 million handle, down from $5.1 million; $332,639 GGR, down from $338,049)
- BetRivers ($2.5 million handle, down from $2.8 million; $332,639 GGR, up from $76,004)
- Twin Spires($1.3 million handle, down from $1.5 million; $143,197 GGR, up from $95,645)
- Golden Nugget ($914,393 handle, down from $923,269; $83,855 GGR, up from $10,750)
- Four Winds Sportsbook ($607,100 handle, up from $545,937; -$18,782 GGR, up from -$20,000)
FireKeepers reported $656 in handle and $299 GGR from a soft launch in June. The platform was released widely in July.
“FanDuel really opened up a significant market share lead, which will be difficult for any rival to overcome,” Schoch said. “WynnBet is taking on an aggressive marketing strategy, including a deal with the Detroit Lions announced last week. This could spark other smaller operators to take a more aggressive posture, too, which would ultimately be good for bettors.”
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BetConstruct
BetConstruct Becomes the First iGaming Company to Offer Both B2B and B2C Licenses in Canada through Affiliate Entity
BetConstruct, a global pioneer in iGaming and sports betting solutions, has announced a significant milestone in the gaming industry. Through its affiliate entity, BetConstruct has become the first iGaming company authorized to facilitate the issuance of both Business-to-Business (B2B) and Business-to-Consumer (B2C) licenses. This remarkable achievement was made possible by obtaining a direct license authorization from the Tobique First Nation in Canada.
The Tobique First Nation, renowned for its innovative and forward-thinking regulatory approach, has entrusted BetConstruct’s affiliate entity with the authority to oversee applications and facilitate the issuance of licenses from its jurisdiction. This partnership underscores shared values of innovation, transparency, and a commitment to responsible gaming practices.
This historic development places BetConstruct at the forefront of the Canadian iGaming market, redefining the opportunities available to gaming operators. By leveraging its affiliate entity’s licensing capabilities, BetConstruct empowers businesses to navigate a streamlined and transparent regulatory environment, unlocking new opportunities for growth and innovation.
“At BetConstruct, we’ve always strived to push the boundaries of what’s possible in iGaming. This landmark achievement with the Tobique First Nation reflects our unwavering dedication to creating opportunities for our partners while upholding the highest standards of responsibility and integrity in gaming,” said Vigen Badalyan, Co-Founder of BetConstruct.
The issuance of dual licenses under the watchful eye of BetConstruct’s affiliate not only highlights BetConstruct’s commitment to supporting its partners but also reinforces the company’s role as a trusted leader in the global iGaming landscape.
This milestone signals a new era for regulated iGaming, as BetConstruct takes bold steps to establish a robust ecosystem for operators and consumers alike. With its direct license authorization from the Tobique First Nation, BetConstruct is setting a new standard for innovation, consumer protection, and sustainable growth in Canada and beyond.
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Canada
Great Canadian Entertainment and Petroglyph Development Group Announce Closing of the Acquisition of Casino Nanaimo and Elements Casino Victoria
Great Canadian Entertainment and Petroglyph Development Group Ltd. announced that PDG has closed the previously announced acquisitions of Casino Nanaimo and Elements Casino Victoria from Great Canadian, in historic transactions for both parties. PDG is a wholly owned corporation of Snuneymuxw First Nation (the “Nation”) and is dedicated to realizing the economic potential of the Nation.
The transactions, originally announced on June 24, 2024, for Casino Nanaimo and September 10, 2024, for Elements Casino Victoria, have received all required approvals from the regulatory authorities.
“We are thrilled to have completed these transactions. An incredible amount of work has been undertaken by our corporate team, our on-site teams at both properties, and PDG to achieve this successful closing. I am grateful for their efforts, as well as everyone at the B.C. Lottery Corporation and the Gaming Policy Enforcement Branch, who were thoughtful, diligent, and thorough in facilitating these closings,” said Matt Anfinson, Chief Executive Officer of Great Canadian.
“We look forward to working closely with PDG during the transition period to support the continued successful operation of Casino Nanaimo and Elements Casino Victoria,” Anfinson added.
“We celebrate the closing of our two casino acquisitions and our continued progress toward building a strong Snuneymuxw economy. For decades, Snuneymuxw leadership has worked tirelessly toward this moment, recognizing the connection between a strong economy, self-determination, and the foundation of nationhood. Today, we honour the achievements of those who came before us by securing businesses that will strengthen our Nation for generations to come. Thank you to the PDG and Great Canadian teams for your exceptional work. We look forward to a rewarding partnership with the B.C. Lottery Corporation, driving economic growth for the Nation and Province,” said Chief Mike Wyse.
Erralyn Joseph, President of PDG, said: “This measured acquisition marks an important milestone for PDG as we continue growing a corporate enterprise that reinvests directly into the prosperity of our Nation. With a strong operating plan focused on risk mitigation and yielding sizable returns, PDG continues to generate sustainable wealth for Snuneymuxw. With every step we are realizing our socio-economic potential and influence at a local, national, and global level. On behalf of the Board of Directors, we are pleased to share this news and remain committed to advancing economic growth in support of all residents connected to Snuneymuxw territory.”
“Acquiring these assets marks a pivotal shift for Snuneymuxw and Vancouver Island. This transition will fuel the Island’s economy, strengthening the Snuneymuxw Nation and ensuring the benefits stay local,” said Ian Simpson, Chief Executive Officer of PDG.
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The Ottawa Black Bears announced an extensive partnership agreement with PowerPlay Online Sportsbook and Casino that will see the company’s logo featured on the club’s home and away jerseys.
In addition to the jersey partnership, PowerPlay will also have branding elements inside the goal crease, behind the bench, on the LED display ring, and along the rinkboards for Black Bears home games at Canadian Tire Centre. As part of the deal, PowerPlay also becomes the exclusive sportsbook and online casino partner for the Ottawa Black Bears.
“We are thrilled to have PowerPlay on board for our inaugural season with such a comprehensive partnership agreement. Their investment with the Black Bears represents a foundational agreement for our lacrosse club. And we’re proud to wear their logo alongside ours as we launch our franchise,” said Chelsea McDermott, Vice President of Business Operations for the Ottawa Black Bears.
“We are excited to bring PowerPlay’s bold, community-driven spirit to Ottawa-Gatineau, partnering with the Black Bears as they establish themselves as a force in lacrosse. This partnership celebrates a sport deeply tied to Canada’s heritage and competitive energy. Together, we’ll ignite passion, energize fans, and deliver excitement all season long,” said Thomas Vermeulen, Marketing Director for PowerPlay.
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