Revenue falls for Detroit’s casinos as city reports January numbers
The region’s three casinos earned a total revenue of $100.9m for the first month of the year.
January was a modest month for Detroit’s three casinos, with revenue falling 11% from December’s numbers.
The three properties, in total, earned $100.9m compared to $111m in December. However, this does mark a year-on-year boost, as revenue grew by 14%.
For two of the city’s properties, table games and slots revenue was up year-on-year, with MGM Resorts earning $48.65m and Greektown earning $20.45m. This reflects a 43% and 4% boost respectively. Meanwhile, revenue fell for MotorCity, coming in at $29.87m.
MGM Resorts remains the most prominent casino in the city, holding a 49% market share. MotorCity, with 30%, followed behind, as Greektown trailed in last place, taking up 21% of the market.
Gaming continues to contribute towards the Michigan state general fund, paying $8m in taxes. This contribution is $1m more than the properties paid in January 2021.
Sports betting continues to add relatively little to the Detroit gaming scene. Total gross receipts for retail sports betting were $1.97m, a 52.4% decrease from the prior year period. Although this does reflect a relatively large boost from December, growing 74.8%.
In total, qualified adjusted gross receipts for Greektown came in at $929,796, while MotorCity and MGM Resorts received $521,493 and $481,785 respectively. Michigan received $73,070 in state taxes from sports betting.
2021 saw some return normalcy for Detroit’s casinos as they recorded $1.29bn in revenue, a marked boost from 2020’s $639m. These numbers did not match pre-pandemic revenue, however, with 2019 seeing the city’s properties earn $1.45bn.
Tags/Keywords
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
