In a positive turn of events for Detroit’s commercial casino sector, revenue for March reached $123.9 million, marking a 3.9% increase from the previous year’s figures. This surge was notably clear of the $119.2 million reported in March of the prior year. Moreover, March’s total revenue stood significantly ahead of February’s $104.6 million, marking an 18.5% increase.
The bulk of this revenue, totaling $122.3 million, was generated from slots and table games, showing a 3.8% increase year-on-year and a robust 16.7% surge from February’s figures.
Despite the dominance of traditional casino offerings, retail sports betting qualified adjusted gross receipts (QAGR) also saw an upward trend, reaching $1.6 million. This figure, although comparatively modest, marked a 13.2% improvement from the previous year and represented a substantial turnaround from February’s $120,142 loss.
MGM Grand Detroit Retains Market Leadership
MGM Grand Detroit continued to lead the Detroit market, maintaining a commanding 46.0% market share in March. The casino reported $56.7 million in revenue from table games and slots, marking a 4.1% increase from the previous year. Additionally, its sports betting QAGR reached $327,857.
MotorCity Detroit secured the second position with a 31.0% market share, reporting revenue of $38.4 million from slots and table games, marking a 7.2% increase. Its sports betting QAGR stood at $538,988.
Hollywood Casino at Greektown, holding a 23.0% market share, rounded off the trio of operators. While its revenue from slots and table games experienced a slight decline of 1.4% to $27.3 million, its sports betting QAGR led the pack at $731,389.
Tax Contributions
In terms of tax contributions, the three casinos collectively paid $9.9 million in gaming taxes to the State of Michigan. Additionally, they disbursed $14.5 million in wagering taxes and development agreement payments to the City of Detroit.
Regarding sports betting, gaming taxes to the state amounted to $60,413, with an additional $73,838 submitted in wagering taxes to the City of Detroit based on retail sports betting revenue.
