Hollywood Casino Michigan Shows Promise After Its Inaugural Month
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Hollywood Casino is the latest addition to the online gambling scene in the Great Lakes State, and the new operator is off to a solid start. Revenue data for November, published by the Michigan Gaming Control Board, shows that Hollywood Casino secured $4.1 million in revenue for its inaugural month of November.
Hollywood Casino is one of the newest projects of PENN Entertainment in Michigan after the previous partnership with Barstool ended. The new online casino Michigan launched on November 14 and represents in many aspects, a rebranding of the previous Barstool casino.
For this project, PENN decided to create different brands for its sportsbook and casino offerings. Popular sports media giant ESPN is partnering with PENN for the bookie service after a $1.5 billion deal was signed this summer for a 10-year collaboration. The online casino section is named Hollywood Casino and is available on the ESPN BET website and app.
Competitive Bonuses Supported the Launch
The numbers for November are not very different from what Barstool generated in previous months. March was the best month for Barstool with $4.3 million. This trend is logical, considering previous accounts on Barstool were allowed to migrate to the new platforms. It’s still not clear if PENN will invest more seriously in its online casino. There are no official announcements about future plans for the growth of the casino section.
No doubt ESPN offers a larger brand recognition, and pairing the casino with the sportsbooks makes the casino content accessible to a broader gambling audience. At its launch, Hollywood Casino offered over 200 games, which is significantly lower than what top-tier online casinos such as BetMGM, DraftKings, and FanDuel are offering to Michigan players.
The trio of leading operators equips their game lobbies with more than 1,000 slots each. For comparisons, the revenue data for November shows that BetMGM, the biggest brand in the state by market share, raised $46.7 million in revenue, compared to $4.1 million for Hollywood Casino. Hollywood Casino is attempting to be competitive with a diverse range of Michigan online casino promotions, offering a welcome bonus, cashback, and free spins.
Room to Grow in Michigan
The numbers from November signal an encouraging start for Hollywood Casino ranking 7th out of 15 operators in Michigan by revenue for the month. This is important, considering its predecessor Barstool, was one of the weakest-performing online casinos in the state in 2023, judging by the MGCD data.
November was a short month for the new operator, and once it finds its footing, December might produce higher revenue numbers. Considering the market is constantly growing every month, the Michigan Gaming Control Board revenue numbers for November show a record-breaking combined revenue of $175.3 million, surpassing the previous record of $171.8 million from March 2023.
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