Detroit casinos generate $119.2m in revenue in March
Table games and slots generated $117.8m and retail sports betting $1.4m.
US.- Detroit’s three casinos have reported $119.2m in monthly aggregate revenue for March, down 2.9 per cent year-on-year. According to the Michigan Gaming Control Board, table games and slots generated $117.8m and retail sports betting $1.4m.
MGM Grand Detroit Casino accounted for 46 per cent of the market share, MotorCity Casino 30 per cent and Hollywood Casino at Greektown 24 per cent. Monthly table games and slots revenue fell 2.6 per cent from March 2022 results of $120.9m. Revenue increased 12.2 per cent when compared with February results of $105m.
Compared with March 2022, Hollywood Casino at Greektown reported a 7.5 per cent gain with $27.6m in monthly gaming revenue. MGM monthly revenue declined 2.7 per cent to $54.4m, and Motor City revenue fell 9 per cent to $35.8m.
During March, the three casinos paid $9.5m in gaming taxes to the State of Michigan compared with $9.8m for the same period last year. The three Detroit casinos reported submitting $14 million in wagering taxes and development agreement payments to the City of Detroit during March.
Retail sports betting qualified adjusted gross receipts (QAGR) for March at $1.4m dropped 26.8 per cent when compared with March 2022 results of $1.9m. Monthly QAGR rose $952,724 when compared February results of $458.7m. Total gross receipts were $1.4m.
The casinos reported a total handle of $13.9m compared with $26.3m in March 2022. The state received $53,354 in retail sports betting taxes from the three Detroit casinos, which also reported submitting $65,210 in retail sports betting taxes to the City of Detroit.
Q3 results
The casinos recorded $326.2m in first quarter aggregate revenue for a 3.4 per cent increase compared with first quarter 2022 results of $315.5m.
For the first quarter, aggregate retail sports betting qualified adjusted gross receipts by property were: MGM, $228,163; MotorCity, $739,658; Hollywood Casino at Greektown, $1,013,431.
See also: Michigan Gaming Control Board launches monthly podcast
