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00:00Let's move on now to Fanatics and talk about their foothold in Michigan.
00:07Looks like they are doing pretty well.
00:09And obviously they used to be points bet there, but since being bought out by Fanatics all
00:15over the country, they're starting to see some significant increases, which is good
00:19news because again, there's really no football going on right now.
00:22So with these other sports to bet, and especially in a state like Michigan, where the Tigers
00:28are middling and the Pistons did not have a good year, this is something that's probably
00:32a positive development for them.
00:34Yeah, I thought it was pretty positive and quite interesting too, to see just they've
00:39had a steady run over the last couple of months.
00:44Like you said, Craig, Fanatics took over that points bets license in Michigan towards the
00:51end of February.
00:52So let's just say for argument's sake that they were operating as points bet in February,
00:59they had 2.3% of market wide handle in February, and that's just increased and stayed steady
01:08since they made that switch in March, March 4%, April, a little bit less 3.6%, but in
01:14May 4.1% of overall handle in Michigan for Fanatics.
01:20So overall, a positive trend to see that brand kind of elevate them a little bit in
01:27terms of generating a consistent amount of handle.
01:33They had a little bit more than $14 million in overall handle did Fanatics in Michigan
01:39for May, and they were able to generate $1.8 million in revenue.
01:44So obviously there are some other major players that we all know about in that market.
01:52And just like in most every other market, FanDuel and DraftKings seem to have a bit
02:00of a stranglehold on Michigan, though I do think with that brick and mortar casino in
02:07Detroit with the MGM brand, BetMGM does tend to do quite well in Michigan, all things considered.
02:15But certainly to your earlier point, Craig, Fanatics and the ability to take over for
02:20points bet and have a steady run over these last couple of months there in Michigan I
02:25think is a positive sign as we get through the summer and we'll see what they're able
02:31to do with a full start to college in NFL betting on the horizon for Fanatics.