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Michigan releases March 2024 sports betting figures10 April 2024(PRESS RELEASE) -- The three Detroit casinos reported $123.86 million in monthly aggregate revenue for the month of March 2024, of which $122.26 million was generated from table games and slots, and $1.6 million from retail sports betting. The March market shares were: - MGM Grand Detroit Casino, 46% - MotorCity Casino, 31% - Hollywood Casino at Greektown, 23% Monthly Table Games, Slot Revenue, and Taxes March 2024 table games and slot revenue increased 3.8% when compared to March 2023 revenue. March’s monthly revenue was 16.7% higher than February 2024. From 1 January through 31 March, the Detroit casinos’ table games and slots revenue decreased by 1.6% compared to the same period last year. The casinos’ monthly gaming revenue results were mixed compared to March 2023: - MGM, up 4.1% to $56.65 million - MotorCity, up 7.2% to $38.35 million - Hollywood Casino at Greektown, down 1.4% to $27.26 million In March 2024, the three Detroit casinos paid $9.9 million in gaming taxes to the State of Michigan. They paid $9.5 million for the same month last year. The casinos also reported submitting $14.5 million in wagering taxes and development agreement payments to the City of Detroit in March. Monthly Retail Sports Betting Revenue and Taxes The three Detroit casinos reported $17.25 million in total retail sports betting handle, and total gross receipts were $1.61 million for the month of March. Retail sports betting qualified adjusted gross receipts in March were up by 13.2% when compared to the same month last year. Compared to February 2024, March QAGR was up by $1.7 million. March QAGR by casino was: - MGM: $327,857 - MotorCity: $538,988 - Hollywood Casino at Greektown: $731,389 During March, the casinos paid $60,413 in gaming taxes to the state and reported submitting $73,838 in wagering taxes to the City of Detroit based on their retail sports betting revenue. Fantasy Contests For February 2024, fantasy contest operators reported total adjusted revenues of $405,342 and paid taxes of $34,049.
Michigan releases March 2024 sports betting figures
is republished from Online.CasinoCity.com.
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