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It wasn’t quite a Motor City Miracle, but the March revenue report for Detroit casinos from the Michigan Gaming Control Board (MGCB) revealed a nice jump in monthly and annual revenue for the city’s three casinos.
Revenue surpassed $120 million for the first time this year and was up 16.7% monthly and 1.6% annually.
Gains from all three Detroit casinos drove March’s growth
Detroit’s three casinos brought in a total of $123.9 million. Table games and slots generated $122.3 million and retail sports betting pitched in $1.6 million.
Here’s how March’s table games and slots revenue totals looked:
| Casino | January 2024 Revenue | December 2023 Revenue | % Change, Month-on-Month |
|---|---|---|---|
| MGM Grand Detroit | $44,553,303.61 | $50,605,390.89 | -11.96% |
| MotorCity Casino Hotel | $27,124,148.77 | $34,666,922.32 | -21.76% |
| Hollywood Casino at Greektown | $22,227,235.56 | $26,124,425.70 | -14.92% |
| Total | $93,904,687.94 | $111,396,738.91 | -15.70% |
When looking at February 2024 gaming revenue for Detroit’s casinos, all three of the city’s casinos saw their revenue increase month on month. MGM Grand was up more than $7 million, MotorCity enjoyed a $6.7 million leap, and Greektown recorded around a $3.4 million surge.
MGM Grand’s March totals marked the first time this year that the casino posted more than $50 million in revenue.
Yet while Detroit’s casinos saw positive signs from its revenue in March, year-to-date revenue is lagging. The MGCB’s March 2024 report noted that casinos are 1.6% behind revenue totals from the same period in 2023.
Michigan sports betting enjoys a boost, too in March
Detroit’s three retail sportsbooks were happy to see March roll around, as the trio suffered through combined losses of more than $120,000 in February.
Revenue surged to $1.6 million this past month, up $1.7 million month-on-month and around $300,000 year-on-year.
Greektown generated the most revenue with $731,389, followed by MotorCity ($538,988) and MGM ($327,857).
April revenue may not go well for Detroit casinos
Detroit gaming enjoyed a strong March but that may not last. March Madness likely drove a wave of bettors to casinos, boosting traffic and revenue.
That same traffic won’t be there in April, so overall revenue will likely drop, too. For example, Detroit’s gaming revenue in March 2023 for slots and table games dropped around $8 million from $117.8 million to $109.6 million in April.
Retail sports betting revenue dipped drastically, too, falling from $1.4 million in March to -$14,489 in April. While it’s hard to say exactly where sports betting revenue will stand in April, we’ll likely see a similar drop-off.
Michigan’s Midwest location may have brought an influx of bettors wagering on the Iowa Hawkeyes and Purdue Boilermakers to win the women’s and men’s NCAA Tournament. Losses by both those teams in the finals may have crushed any dreams of positive retail sportsbook revenue in April.
