Detroit casinos report $119.2 million in March 2023 monthly aggregate revenue

Gaming News

11 April 2023

(PRESS RELEASE) -- The three Detroit casinos reported $119.2 million in monthly aggregate revenue in March. Table games and slots generated $117.8 million in revenue, and retail sports betting produced $1.4 million in revenue.Market shares during March were:
- MotorCity Casino, 30%
- Hollywood Casino at Greektown, 24%In March 2022, the casinos reported $122.8 million in monthly aggregate revenue.

March Table Games and Slot Revenue

Monthly table games and slots revenue fell 2.6% from March 2022 results of $120.9 million. Revenue increased 12.2% when compared with February results of $105 million.Compared with March 2022, Hollywood Casino at Greektown reported a 7.5% gain with $27.6 million in monthly gaming revenue. MGM monthly revenue declined 2.7% to $54.4 million, and Motor City revenue fell 9% to $35.8 million.During March, the three casinos paid $9.5 million in gaming taxes to the State of Michigan compared with $9.8 million 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.

First Quarter Table Games and Slot Revenue

The casinos recorded $326.2 million in first quarter aggregate revenue for a 3.4% increase compared with first quarter 2022 results of $315.5 million. Gaming revenue results by property were:- MGM, $154.7 million, up 2.5%- MotorCity, $97.3 million, down 0.9%- Hollywood Casino at Greektown, $74.2 million, up 11.5%The state received $26.4 million in gaming taxes during the first quarter compared with $25.6 million paid in the same period last year.

Retail Sports Betting Revenue and Taxes

Retail sports betting qualified adjusted gross receipts (QAGR) for March at $1.4 million dropped 26.8% when compared with March 2022 results of $1.9 million.Monthly QAGR rose $952,724 when compared February results of $458,752 million. Total gross receipts were $1,431,580.March QAGR results by property were:- MGM, $284,425- MotorCity, $424,382- Hollywood Casino at Greektown, $702,670The casinos reported a total handle of $13,938,183 compared with $26.3 million 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.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

Fantasy Contests

During February, fantasy contest operators reported total adjusted revenues of $1.8 million and paid taxes of $150,424.

For January and February combined, fantasy contest operators reported $4.7 million in aggregate fantasy contest adjusted revenues and paid $395,122 in taxes.