Going Independently Results in Growth for Michigan’s Tribal Online Casinos in 2023
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National operators dominate the online casino market in Michigan, but few local operators are willing to face serious competition. The latest revenue reports from the Michigan Gaming Control Board show that the four tribal casinos with online presence in the Great Lakes State have experienced significant growth in 2023.
Although the tribal Michigan casinos online lag behind the national operators when it comes to the features they offer, they still outperform several brands active in multiple U.S. states. Although these platforms are not going to dethrone the renowned brands any time soon, two of the four online casinos, Four Winds and Eagle Casino & Sports, respectively rank 8th and 9th in the Michigan market, according to November revenue data, and are attracting more bets than nationally established online casinos such as WynnBet, PokerStars, and PointsBet.
Taking a Larger Chunk of the Revenue
The four tribes declined the opportunity to seek a partner with out-of-state operators. Operating solo enables the four tribes Match-E-Be-Nash-She-Wish Band of Pottawatomi, Nottawaseppi Huron Band of the Potawatomi, Pokagon Band of Potawatomi Indians, and Saginaw Chippewa Indian Tribe to retain a bigger slice of the revenue, instead of sharing profits with partnering operators. In 2022, the four tribal operators combined for slightly over $91 million in revenue. The projections for 2023 are for the operator to generate a combined revenue of over $100 million.
Out of the four tribal online casinos, Soaring Eagle Casino has made the biggest jump in 2023, with 84% growth compared to 2022. However, this online casino launched in April 2022, and the math does not account for the absence of revenue for those four months, giving a slightly wrong impression about its year-over-year growth. But the positive trend is evident by comparing the months side by side. Its market share is at 1.7%.
Another tribal operator having a good year is FireKeepers iCasino. This platform achieved 29% growth and accumulated $18.4 million in revenue through November 2023. An upward trajectory is evident for Four Winds Online Casino revenue numbers, which indicate a 20% revenue increase in 2023 and a market share of 2.2%.
Four Winds Casino ended November with $3.1 million and currently ranks as the 10th Michigan operator for lifetime revenue with $92.6 million. Four Winds Casino is one of the tribal operators investing in Michigan online casino promotions to connect to its player base and fuel growth.
Other Tribes Are Profiting
However, not every tribal online casino is on an upward trajectory. Play Gun Lake is facing negative growth of -2% in 2023, but the December numbers might get the operator back into positive territory after November generated $1.9 million in revenue. This operator has a market share of 1.2%, and one reason for the underperforming results is most likely the small slots inventory of about 200 titles.
Judging the performance of the remaining 12 tribes that partner with national operators is hard to ascertain, considering it's not public knowledge what percentage of the revenue goes to the tribes from the national operators. However, with a projected market revenue of $1.7 billion for 2023, there is no doubt the earnings are not small.
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