The Michigan Gaming Control Board reported -$28.2 million in adjusted gross sports betting revenue for June on Thursday after BetMGM claimed a $48.2 million free play deduction from promotional bonuses and credits.
The monstrous deduction — as a point of reference, the state of Pennsylvania reported $43 million in gross revenue earlier Thursday — overshadowed a good month for operators. They claimed $31.8 million in gross winnings, fashioning an 11.2% hold against $285.2 million in handle.
Gross revenue was up 77.4% compared to June 2023 as the hold was nearly 3.6 percentage points higher than 12 months ago. Handle declined 19.6% from the $354.8 million in May, while gross winnings slid 25.6%.