Detroit casinos see March revenue up 3.8% year-over-year
MGM held 46% of the market during the month.
The Michigan Gaming Control Board has published financial results for Detroit’s three casinos for the month of March.
In total, $123.9m was made in revenue, $122.3m of which came from table games and slots, and the other $1.6m coming from retail sports betting.
Looking specifically at table games and slots, March’s revenue was 3.8% higher year-over-year and represented 16.7% growth compared with February.
While MGM and MotorCity saw their revenue for the month increase, Hollywood Casino at Greektown suffered a marginal 1.4% dip.
In total during the month, the three casinos paid $9.9m in gaming taxes to the State of Michigan and submitted $14.5m in wagering taxes and development agreement payments to the City of Detroit.
For retail sports betting, Detroit’s casinos saw $17.3m in retail sports betting handle for March, with gross receipts valued at $1.6m. Qualified adjusted gross receipts (QAGR) were up 13.2%.
Looking at QAGR individually, MGM reported $327,857, MotorCity $538,988 and Hollywood Casino at Greektown was set at $731,389.
In terms of taxes for sports betting revenue, the three casinos paid $60,413 in gaming taxes to the state and $73,838 in wagering taxes to the City of Detroit.
According to the figures reported in March, MGM had 46% of total market share, MotorCity with 31% and Hollywood Casino at Greektown 23%.
In other state news, the Michigan Gaming Control Board has continued its efforts to uphold gambling laws in the state by identifying and removing illegal casino-style gaming machines.
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