Gun Lake, Michigan – Dreamstime / Dean Pennala
Parx Interactive will launch its online casino product in a third state. Parx and his partner, the Gun Lake Band of Michigan Potawatomi Indians, received today the approval of Michigan Gaming Control Board.
This will only be the proceeds of the casino at first. The company made the logical choice in going this vertical to start with because it generates a lot more money than online sports betting. In March, for example, Michigan operators saw $ 95.1 million gross revenue from online gambling and $ 32.3 million online sports betting.
That said, the MGCB has stated that the Gun Lake Band maybe soon some online sports betting, as soon as it meets regulatory requirements.
Parx might just be a small player in Michigan
Michigan launched online gambling and online sports betting in January. The dominant forces at the start were BetMGM, FanDuel and DraftKings. These have all enjoyed similar success elsewhere and are expected to retain the top spots.
The big three have generated $ 66.3 million of online casino totals in March. All other operators combined generated $ 28.8 million.
This trio could further consolidate their supremacy in the Michigan market if Beat, who owns FanDuel, ends up gradually removing his Fox bet mark and transfer those players to FanDuel. This possibility was floated as a potential outcome in the ongoing feud between Flutter and Fox Sports over FanDuel’s IPO.
While Parx Casino is well known in its home state of Pennsylvania, it has little brand visibility in Michigan. Launched late and faced with rivals as dominant, it may have difficulty being more than a small player in the Wolverine State.
Parx-Gun Lake partnership brings state total to 14 brands
Michigan’s new online casino option brings to 14.
Prior to the launch of Parx, there was 11 Michigan Online Casino Operators:
- Bar stool
- Four winds
- Gold nugget
- Guillaume Hill
Parx brings this total to 12. There is a 13th company in the state, Points bet, but so far it only works in the sports betting vertical. It offers its bookmaker in partnership with the Old Desert Lake Band of Chippewa Indians from Lake Superior. She and Parx are the only two that now operate in a single vertical, since Casino stool spear. Finally, Fox Bet makes the total number of brands 14, although it is on the same license as PokerStars, and belonging to the same company.
The launch of Parx leaves only two licensees that are not yet online. These are the remaining tribal operators who, like Four Winds, have chosen to create their own brands online rather than partnering with an existing brand:
Since each Michigan licensee can only have one brand per vertical, their launch will bring the market to full capacity. However, if Flutter absorbed Fox Bet and related brands like PokerStars into the FanDuel group, it could end up unleashing the Odawa Casino license for a new operator. Thus, it is still possible for Michigan to see a surprise late arrival, perhaps in by Bally Where Caesars, which are excluded at the moment.