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In our first story this week, Michigan online gambling and sports betting operators reported more than $100 million in August revenue. According to the Michigan Gaming Control Board, the online casino and sportsbooks revenue is slightly up compared to the July numbers and stands at exactly $113.1 million.
Internet gaming accounts for the lion's share of the revenue, generating $97.2 million. At the same time, online betting brought in $15.9 million in gross receipts. The amount of money wagered for the month came in at $192.3 million. August results pushed the total sports betting handle for this year to over $2 billion.
The state of Michigan did good, too, as the operators paid $18.4 million in state taxes and payments for the month of August.
Next up, Macau casino operators see their stocks take a plunge as the government kick off a regulatory overhaul. On Wednesday, shares of the major gambling companies operating in the world's largest casino market shed almost a third of their value. The total loss is estimated to be around $18 billion.
The slump is a direct result of Tuesday's announcement by the Chinese government. The state officials gave notice of a 45-day consultation period on the gambling industry that will start the following day. The process will include the re-evaluation of the gambling licenses, as well as increased government supervision over the gambling industry and the development of better regulation. The current licenses of the Macau operators, including several US-based companies, are set to expire in June 2022.
In our next story, a first-time visitor from Chicago hits the jackpot at the Hard Rock International Northern Indiana casino. On Sunday, a Chicago native, who wished to remain anonymous, scored the biggest slot machine jackpot since the casino in Gary opened on May 14. The lucky player bet only $2.50 on a progressive penny slot, probably hoping to have some fun and maybe win a small prize. However, he ended up winning the jackpot worth a staggering $293,791.80. That's more than 100,000-times return on the investment.
The huge prize came on the Ox edition of the Jinse Dao slot machine by SG Gaming. With the latest win, the casino has now paid more than $10 million to jackpot winners this year.
In our last story, an off-Strip casino pays out a $230,000 bad beat jackpot. On Sunday, a Jumbo Bad Beat Jackpot hit at the Boulder Casino in Sunrise Manor, Nevada. The exact progressive jackpot shared by players was $230,971. According to the representatives of the Station Casinos, a company that operates the Boulder facility, the losing player that triggered the jackpot had four aces in his hands. At the same time, the winning hand was a royal flush.
The player with the winning hand pocketed $23,097, while the loser took home $34,646. Players at the winning table won $11,549 each. Other poker guests across the Station Casino's poker rooms who were playing when the jackpot hit shared $161,679. This also included players in Red Rock and Santa Fe casinos.
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