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    Home ยป Fanatics Launches Sportsbook and Casino in Michigan, Signals Record iGaming Revenue

    Fanatics Launches Sportsbook and Casino in Michigan, Signals Record iGaming Revenue

    Staff WriterFebruary 27, 2024 Casinos
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    Players in Michigan can now access both the Fanatics Sportsbook and Fanatics Casino, with the online casino integrated into the sportsbook app.

    Fanatics Sportsbook has replaced the PointsBet brand in Michigan.

    Existing PointsBet customers will have their username, password, account balance, rewards points, and responsible gaming settings seamlessly transferred to the Fanatics platform.

    FBG has been gradually phasing out the PointsBet brand nationwide since acquiring PointsBet US in August 2023.

    Michigan becomes the 13th state where FBG has launched its Fanatics Sportsbook, joining Colorado, Connecticut, Iowa, Kentucky, Maryland, Massachusetts, Ohio, Pennsylvania, Tennessee, Vermont, Virginia, and West Virginia.

    Retail betting venues are also operational in Pennsylvania and West Virginia.

    Michigan is only the third state where FBG has introduced its online casino, following Pennsylvania and West Virginia.

    FBG is still in the process of transitioning away from PointsBet in other states, without specifying a completion timeline for further acquisitions and launches.

    The launch of the Fanatics brand in Michigan coincides with the state’s announcement of record monthly igaming figures for January.

    In January, Michigan reported a year-on-year increase of 18.4% in gross igaming revenue, reaching $181.9m, a historic high.

    Sports betting gross receipts rose by 40.7% to $47.7m, with handle also increasing by 21.4% to $577.4m.

    Total gross online gambling revenue, encompassing both igaming and sports betting, surged by 22.6% year-on-year in January to $229.6m.

    Adjusted gross receipts (AGR), factoring in promotional deductions, amounted to $183.0m, marking a 20.7% increase from the previous year.

    Adjusted gross igaming revenue rose by 18.7% to $164.2m, while adjusted gross sports betting receipts saw a 5.6% increase to $18.8m.

    The growth of online gambling stands in contrast to the decline observed in Detroit’s land-based sector.

    Detroit’s three casinos collectively recorded $94.4m in monthly revenue for January, reflecting an 8.8% year-on-year decrease.

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