Michigan Claims Second in Online Gambling Revenue

With the number of states offering all forms of online gambling increasing, the states are starting to sort themselves out in terms of which state stands as the king of online gambling. Given its longevity within the U.S. online gambling community, it comes as no surprise that New Jersey is still king. The surprise comes with the state that is currently ruling as queen.

Keeping in mind that Michigan has only been allowing its residents to play online poker and online casino games of chance since mid-2021, it's amazing to see how popular online gambling has been in the state. After throwing in its highly rated online sports betting activities, Michigan has solidified its #2 ranking, falling behind only New Jersey and ahead of states like Nevada and Pennsylvania.

The biggest surprise of all has been the popularity of online casino gambling in Michigan. Through the first 6 months of 2022, Michigan residents wagered $757 million through the state's online casino operators. That too ranked #2 in the nation, finishing behind New Jersey's online casinos, which generated $815 million over the same time period.

A look at June only shows that online gambling revenue in Michigan has become a runaway train. Through the combined efforts of its online casinos and poker rooms, Michigan's online operators reported $121.5 million. For the same month in 2021, the revenue reported for both sources was slightly over $114 million.

Here's the kicker. Michigan is officially on target to take over the #1 spot in the U.S. in terms of online poker play by September of this year. They currently trail Pennsylvania by a small margin with a growth trajectory that will make Michigan the #1 poker-plating state in the nation.

Moving forward, only New York would seem to have a chance to challenge Michigan's standing for online casino and poker gambling. However, the state has not yet approved such activities on a large scale.

Penn Gaming Completes Rebranding Process

In March of 2022, Penn Gaming was busy filing as many as 15 trademark applications. It served as a clear indication that the company was looking to make a move of some kind. The process has now been completed and from this day forward, Penn Gaming will be operating under the name PENN ENTERTAINMENT.

Penn Entertainment CEO Jay Snowden indicated that the new name is more indicative of what the company has in store for the future.

Under the new brand, Penn Entertainment owns/operates 44 retail casino properties throughout the U.S. They also have a growing online presence with online gambling activities taking place in 5 states to date. The company's most recognizable brands include Hollywood Casino, Barstool Sportsbook, and theScore Bet.

In a press release, Snowden stated: “Today is an exciting day for us as we become Penn Entertainment, Inc. Our new name maintains ties to our legacy while better reflecting our evolution into North America’s leading provider of integrated entertainment, sports content, and casino gaming experiences.”

Note: Penn Entertainment's original name was Penn National Race Course Corp.