CasinoCityTimes.com

Home
Gaming Strategy
Featured Stories
News
Newsletter
Legal News Financial News Casino Opening and Remodeling News Gaming Industry Executives Search News Subscribe
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Related Links
Related News
SEARCH NEWS:
Search Our Archive of Gaming Articles 
 

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

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:

- MGM Grand Detroit Casino, 46%
- 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, $702,670

The 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.

< Gaming News