Detroit casinos produce $1.28bn in aggregate revenue in 2022
Detroit’s casino revenue fell just shy of the $1.29bn generated the year prior.
US.- Detroit’s three casinos reported $1.28bn in annual aggregate revenue for 2022. According to the Michigan Gaming Control Board, slots generated 77 per cent of revenue at $983.7m, table games provided 21 per cent of revenue at $273.3m and retail sports betting added 2 per cent of revenue at $18.8m.
2022 figures fell slightly short compared to the previous year when casinos produced $1.294bn in aggregate revenue.
In 2022, MGM Grand Detroit accounted for 48 per cent of the market share, MotorCity Casino 31 per cent and Hollywood Casino at Greektown 21 per cent.
Year-over-year gaming revenue for slots and table games declined a fractional 0.8 per cent to $1.26bn. MGM Grand Detroit’s revenue rose 8.3 per cent to $600m. MotorCity Casino’s revenue fell 9.5 per cent to $396.5m. Hollywood Casino at Greektown reported a 5.1 per cent decline in revenue to $260.5m.
During 2022, the three Detroit casinos paid $101.8m in wagering taxes on slots and table games revenue to the state of Michigan compared with $102.6mn in 2021.
The three Detroit casinos reported making $155.6m in wagering taxes and development agreement payments on slots and table games revenue to the City of Detroit during 2022 compared with $160.8m paid in 2021.
The three casinos reported aggregate retail sports betting qualified adjusted gross receipts of $18.8m, down 30.2 per cent from the $26.95m reported in 2021.
The three Detroit casinos in 2022 paid $711,087 in taxes for retail sports betting to the state of Michigan compared with $1m in 2021. They reported submitting $869,107 in retail sports betting taxes to the City of Detroit compared with $1.2m paid in 2021.
December 2022 results
The Michigan Gaming Control Board reported the three casinos generated $109.9m in monthly aggregate revenue in December compared with $112.5m recorded in December 2021. Table games and slots generated $108.3m in revenue while retail sports betting produced $1.6m in revenue.
December 2022 table games and slots revenue declined 2.8 per cent from revenue produced in December 2021. December revenue for table games and slots was up 8.4 per cent compared with the $99.9m reported in November.
December revenue fell 0.8 per cent to $51m for MGM compared with December 2021 results. MotorCity’s December revenue dropped 5.7 per cent to $33m, and Hollywood Casino at Greektown’s monthly revenue declined 2.9 per cent to $24.3m compared with December 2021 results.
During December, the three Detroit casinos paid $8.8m in wagering taxes to the state of Michigan compared with $9m paid in December 2021. The three Detroit casinos reported making $13.4m in wagering taxes and development agreement payments to the City of Detroit in December.
Retail sports betting QAGR at $1.6m rose 48 per cent in December compared with December 2021 results of $1.1m.
