The three Michigan casinos in Detroit reported a combined $105.5 million in monthly aggregate revenue for February.
The Michigan Gaming Control Board reported that table games and slots generated $105 million in monthly revenue. That’s a 9.8% increase compared to February 2022’s $95.6 million and a 1.6% increase over January’s $103.4 million.
Meanwhile, retail sports betting produced $458,752, well ahead of negative results from last year.
Revenue for 3 Michigan casinos in Detroit rise compared to 2022
All three Detroit casinos reported year-over-year revenue increases coming from table games and slots. Market shares during February were:
- MGM Grand Detroit, 47% (with $50 million)
- MotorCity Casino, 30% (with $31.2 million)
- Hollywood Casino at Greektown, 23% (with 27.3 million)
For February, the three Detroit casinos combined paid $8.5 million to the state gambling tax. The figure compares to the $7.7 million paid in February 2022. Three facilities also collected $12.5 million in gambling taxes and development agreement payments to the City of Detroit.
Compared to February last year, monthly gaming revenue climbed for all three Michigan casinos as follows:
- MGM increased 8.2% to $50.1 million
- MotorCity’s monthly revenue rose 7.9% to $31.2 million
- Greektown’s monthly revenue went up 16.3% to $23.7 million
Retail sports betting handle at Detroit casinos continues to fall
As for retail sports betting, qualified adjusted gross receipts (QAGR) rose by $1.3 million from $875,552 reported a year ago. Total gross receipts were $475,913. The results also climbed by $347,729 compared with January’s $111,023.
The total betting handle for February was $12.2 million, a significant decrease from nearly $25.4 million generated a year ago. February 2023 was the third lowest total month (after August 2022 and December 2020) since Michigan launched sports betting in 2020.
Detroit casinos paid $17,341 in state taxes. That compares to zero collected during February 2022, when the casinos reported negative QAGR.
Gaming facilities also submitted $21,194 in gambling taxes to the City of Detroit in January.