Detroit casinos generate $105.5 million in revenue for February
13 Mar 2023
Market shares during February were:
- MGM Grand Detroit Casino: 47%
- MotorCity Casino: 30%
- Hollywood Casino at Greektown: 23%
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:
- MGM Grand Detroit Casino: $6,463
- MotorCity Casino: $78,773
- Hollywood Casino at Greektown: $373,516
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.
Detroit casinos generate $105.5 million in revenue for February
is republished from CasinoCityTimes.com.