Detroit Casinos See Revenue Surge in March

The gambling houses in Detroit, Michigan, saw their earnings climb by 8.0% in March compared to the same time last year, reaching $122.9 million (£94.6 million/€113.5 million).

The Michigan Gaming Control Board (MGCB) stated that the rise was primarily due to gambling establishments operating at reduced capacity in March of the previous year due to the state’s coronavirus (Covid-19) restrictions.

However, it was also noted that the March 2022 figures were higher than the $94.7 million recorded in February of this year, an increase of 29.8% month-to-month.

MGM Grand Detroit led the way with a 46% market share, followed by MotorCity Casino at 33% and then Penn National’s Greektown Casino Hotel at 21%.

Breaking down the monthly performance, table games and slots generated $120.9 million of all revenue in the month, up 9.1% year-on-year and 26.5% compared to February of this year.

MGM’s table games and slots revenue reached $55.9 million, while MotorCity reached $39.3 million and Greektown reached $25.7 million.

The three gambling houses paid $9.8 million in gaming taxes to the state of Michigan in the month, as well as $14.4 million in wagering taxes and payments related to development agreements with the city of Detroit.

Turning to sports betting and the total Qualified Adjusted Gross Receipts (QAGR) for March came in at $1 million, down 65.0% from March 2021, but up from 31.

During the month of February, the rate of increase was three percent.

MotorCity emerged as the frontrunner in the realm of sports wagering, boasting an average annual growth of $718,442, outpacing Greektown’s $664,550 and followed by MGM’s $545,336.

The gambling establishments collectively processed a total of $26.4 million in wagers, generating $2 million in earnings, with $72,891 remitted to the state in levies and $89,089 to the city of Detroit in retail sports betting taxes.

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