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Detroit casinos report $103.5 million in January revenue15 February 2023(PRESS RELEASE) -- The three Detroit casinos reported $103.5 million in monthly aggregate revenue in January. Table games and slots generated $103.4 million in revenue while retail sports betting produced $111,023. Market shares during January were: MGM Grand Detroit Casino, 48% MotorCity Casino, 30% Hollywood Casino at Greektown, 22% Table Games and Slot Revenue Monthly table games and slot revenue rose 4.4% compared with January 2022 results. Revenue declined 4.5% compared with December results. Compared with January 2022, monthly gaming revenue rose 3.2% to $50.2 million at MGM and 1.3% to $30.3 million at Motor City Casino. Hollywood Casino at Greektown reported $22.9 million monthly revenue for an 11.9% gain compared with January 2022 results. During January, the three Detroit casinos paid $8.4 million in gaming taxes to the State of Michigan compared with $8 million for the same month last year. The three Detroit casinos reported submitting $16.3 million in wagering taxes and development agreement payments to the City of Detroit during January. Retail Sports Betting Revenue and Taxes Retail sports betting qualified adjusted gross receipts (QAGR) for January dropped by $1.8 million, or 94.3%, when compared with January 2022 results. QAGR also declined by $1.5 million, or 93.2%, when compared with December results. January QAGR totals by property were: MGM, -$62,725 MotorCity, $236,503 Hollywood Casino at Greektown, -$62,755 Total gross receipts were $149,379, and total handle was $15,277,683. State taxes from the Detroit casinos were $8,940 compared with $73,070 for the same month last year. The three Detroit casinos reported submitting $10,926 in wagering taxes to the City of Detroit during January. Fantasy Contests During December, fantasy contest operators reported total adjusted revenues of $1.6 million and paid taxes of $133,324. Fantasy contest operators reported aggregate fantasy contest adjusted revenues of $16.8 million and paid $1.4 million in taxes during 2022. "The Michigan Gaming Control Board shall ensure the conduct of fair and honest gaming to protect the interests of the citizens of the State of Michigan."
Detroit casinos report $103.5 million in January revenue
is republished from Online.CasinoCity.com.
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