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Detroit casinos generate $105.5 million in revenue for February13 March 2023(PRESS RELEASE) -- The three Detroit casinos - MGM Grand Detroit Casino, MotorCity Casino, and Hollywood Casino at Greektown - reported $105.5 million in monthly aggregate revenue in February. Table games and slots generated $105 million in revenue, while retail sports betting produced $458,752. Market shares during February were:
Monthly table games and slots revenue rose 9.8% when compared to with February 2022 results of $95.6 million. Revenue increased 1.6% compared with January results of $103.4 million. Compared with February 2022, monthly gaming revenue for MGM rose 8.2% to $50.1 million. MotorCity’s monthly revenue was up 7.9% to $31.2 million, and Greektown reported $23.7 million in monthly revenue for a 16.3% gain. Combined January and February table games and slots revenue increased 7.1% compared with January and February 2022 revenue. During February, the three Detroit casinos paid $8.5 million in gaming taxes to the State of Michigan compared with $7.7 million paid in February 2022. The three Detroit casinos reported submitting $12.5 million in wagering taxes and development agreement payments to the City of Detroit during February. Retail sports betting revenue and taxes: Retail sports betting qualified adjusted gross receipts (QAGR) increased by $1.3 million in February compared with February 2022 when all three properties reported combined QAGR losses of $872,552. QAGR rose by $347,729 compared with January results of $111,023. February QAGR totals by property were:
Combined QAGR for January and February was $569,775. State taxes from the Detroit casinos were $17,341 compared with zero collected during February 2022 when the casinos reported negative QAGR. The three Detroit casinos reported submitting $21,194 in wagering taxes to the City of Detroit during January. Fantasy contests: During January, fantasy contest operators reported total adjusted revenues of $2.9 million and paid taxes of $244,698. |