Detroit casinos generate $105.5m in revenue in February

Retail sports betting qualified adjusted gross receipts (QAGR) increased by $1.3m in February.

03/13/23

Table games and slots generated $105m and retail sports betting $458,752.

US.- Detroit’s three casinos have reported $105.5m in monthly aggregate revenue for February. According to the Michigan Gaming Control Board, table games and slots generated $105m and retail sports betting $458,752.

MGM Grand Detroit Casino accounted for 47 per cent of the market share, MotorCity Casino 30 per cent and Hollywood Casino at Greektown 23 per cent. Table games and slots revenue across all three was up 9.8 per cent from February 2022 and up 1.6 per cent from January 2023.

Compared with February 2022, monthly gaming revenue rose 8.2 per cent to $50.1m at MGM and 7.9 per cent to $31.2m at Motor City Casino. Hollywood Casino at Greektown reported $23.7m monthly revenue, up 16.3 per cent. Combined January and February table games and slots revenue increased 7.1 per cent compared with the first two months of 2022.

For February, the three Detroit casinos paid $8.5m in gaming taxes to the State of Michigan compared with $7.7m in February 2022. The three Detroit casinos reported submitting $12.5m in wagering taxes and development agreement payments to the City of Detroit during February.

Retail sports betting qualified adjusted gross receipts (QAGR) increased by $1.3m compared with February 2022 when the properties reported combined QAGR losses of $872,552. QAGR rose by $347,729 compared with January results of $111,023. Total gross receipts were $475,913 from a handle of $12.2m.

State taxes from the Detroit casinos were $17,341 compared with zero collected during February 2022 when the casinos reported negative QAGR. The three Detroit casinos reported submitting $21,194 in wagering taxes to the City of Detroit during January.

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Land-based casinos Michigan Gaming Control Board