The Michigan Gaming Control Board (MGCB) has released its figures for March, and the Wolverine State has seen a slight increase from overall Q1 aggregate revenue last year. The three casinos in Detroit reported $326.2m for the first quarter of 2023, up 3.4% from 2022.
March monthly aggregate gaming revenue reached $119.2m; however, this is a decrease from $122.8m in March of 2022. March 2023 table game and slot revenue dropped 2.6% year-over-year to $117.8m, but it was a 12.2% increase on February 2023’s revenue.
Hollywood Casino was the only one of the three with increased March revenue year-over-year, rising 7.5% to $27.6m. MGM Grand dropped by 2.7% to $54.4m and Motor City decreased by 9% to $35.8m.
For the quarter, MGM Grand brought in the highest revenue of $154.7m, while Hollywood Casino experienced the biggest revenue increase of 11.5%. Motor City experienced a decline from Q1 last year.
For March, the three casinos in Detroit reported paying $14m in wagering taxes and development agreement payments to the city and $9.5m in gaming taxes to the State of Michigan. Michigan also received $26.4m in total in gaming taxes during the first quarter.
MGM Grand Detroit brought in 46% of March’s revenue, while Motor City Casino made 30% and Hollywood Casino Greektown sat at 24%. Retail sports betting qualified adjusted gross receipts (QAGR) for March suffered a march sharper decrease of 26.8% compared to 2022. The casinos reported a total handle of $13.9m, while March 2022 reached $23.6m.
Though Michigan State made it to the Sweet 16 teams in March Madness, its bettors were not as keen as its basketball players.
