Fanatics Launches Online Casino and Sportsbook in Michigan
Players will have more options to choose from after Fanatics launched its online casino and sportsbook in Michigan. It is part of the rebranding of the PointsBet in the state. Also, the Fanatics Sportsbook will now include an online casino.
According to sportsbook PPH experts, existing PointsBet players will migrate to the new Fanatics Sportsbook. In addition, the migration includes their usernames, passwords, rewards points, account balances, and other settings. It is part of FBG’s phasing out of the PointsBet brand in the United States after acquiring it in August 2023.
Launching its Fanatics Sportsbook in Michigan makes FBG the thirteenth state to do so. Additional states where it may be found include Pennsylvania, West Virginia, Connecticut, Kentucky, Iowa, Maryland, Pennsylvania, Massachusetts, Vermont, and Virginia. There are also retail betting locations in Pennsylvania and West Virginia.
In addition to just two other states, Michigan is the third in which FBG has launched its online casino. In addition to West Virginia and Pennsylvania, the Fanatics Casino operates in both states. Acquiring the brand allows Fanatics to open a sports betting operation without developing a bookie software.
Online Casino and Sportsbook in Michigan
PointsBet is still being phased out in other states by FBG. The operator has set no specific date for the completion of future acquisitions or launches.
In the same week that the state of Michigan announced record monthly igaming figures for January, the Fanatics brand was launched. Michigan set a new high for gross igaming income at $181.9m, an increase of 18.4 percent over the previous year. Gross profits from sports betting increased by 40.7% to $47.7m, while handling increased by 21.4% to $577.4m.
January saw a 22.6% year-on-year growth to $229.6m in total gross online gambling income, which includes igaming and sports betting. The AGR, which considers promotional deductions, was $183.0m, representing a 20.7% increase compared to the previous year. There was an 18.7 percent rise to $164.2 million in adjusted gross igaming income and a 5.6% increase to $18.8 million in adjusted gross sports betting receipts.
The land-based gaming market in Detroit has been declining while online gambling has been seeing growth. The monthly income for Detroit’s three casinos was $94.4 million in January, down 8.8 percent from the same month a year ago.
