Detroit casinos report $94.7m revenue for February

The Michigan Control Board has reported that revenue for the three Detroit casinos was down 3.4 per cent month-on-month.

US.- Detroit’s three casinos have reported $94.7m in monthly aggregate revenue for February, according to the Michigan Control Board. Table games and slots generated $95.7m in revenue while sports betting operations made a loss of $872,552.

The MGM Grand Detroit recorded $46.3m in revenue, Motor City $28.9m and Greektown $20.4m. Their market shares for February were: MGM, 49 per cent; MotorCity, 30 per cent; Greektown, 21 per cent.

The three casinos paid $7.7m in gaming taxes and $11.4m in wagering taxes and development agreement payments to the City of Detroit. The sports betting handle was $25.4m and monthly qualified adjusted gross receipts (QAGR) decreased $2.8m from January.

Michigan started taking online sports betting and online gaming in January of 2021. In the first year sportsbooks generated $3.97bn in online and retail wagers, $319.5m in gross revenue and $13.6m in state taxes.

See also: Michigan sportsbook handle sets fifth consecutive monthly record