The March Madness revenue bumps are beginning to fade all over the US including in Michigan.
For April, Michigan casinos reported $109.7 million in monthly aggregate revenue, down from the $118 million reported in March.
April’s revenue report showed table games and slots generated $109.6 million in revenue, down 6.2% year-over-year. Additionally, the three Detroit sportsbooks contributed only $120,350 in revenue.
Detroit casino revenue dips in April
As mentioned, April was not the best month for slots and table games. Detroit casinos’ revenue from slots and table games fell by 6.2% compared to April 2022.
Just like last month, Hollywood Casino at Greektown was the only property to report an increase in revenue compared to April 2022. Hollywood Casino generated $25.2 million in revenue for the month, up 6.3% from April 2022.
Although it collected the most money in April, MGM Grand Detroit reported $50.2 million in revenue, down 11.5% from last year. MotorCity Casino’s revenue was down 6.1% to $34.2 million.
Detroit casino revenue numbers in April:
- MGM Grand: $50.2 million (11.5% YOY decrease)
- Motor City Casino: $34.2 million (6.1% YOY decrease)
- Hollywood Casino: $25.2 million (6.3% YOY increase)
In terms of the Michigan casino market share revenue in April, numbers were identical to March.
- MGM Grand Detroit: 46%
- Motor City Casino: 30%
- Hollywood Casino Greektown: 24%
As for retail sports betting in Detroit, the three retail sportsbooks generated $15.3 million in total handle. On the bright side, the total handle was up from the $13.9 million reported in March.
One of the big surprises in April was a customer winning $2.6 million by placing parlay bets at MotorCity Casino. As a result, retail sports betting qualified adjusted gross receipts (QAGR) dropped a staggering 93.6%.
Michigan’s casino tax revenue slightly down
According to the April report from the Michigan Gaming Control Board (MGCB), state and city tax revenue also took a hit in April.
Detroit casinos paid $8.9 million in state taxes, down YOY compared to $9.5 million in April 2022. Additionally, the three properties paid $13 million in taxes to the City of Detroit, down from the $14 million reported in March.
Casino sportsbooks contributed $69,237 to the state and $84,624 in taxes to Detroit based on retail sports betting revenue.