Detroit casinos report $94.7 million aggregate revenue in February
March 10, 2022
Detroit, March 10, 2022 - The three Detroit casinos reported $94.7 million in monthly aggregate revenue in February. Table games and slots generated $95.6 million in revenue while retail sports betting results showed a $872,552 loss.
The market shares were:
- MGM, 49%
- MotorCity, 30%
- Greektown, 21%
Table Games and Slot Revenue and Taxes
The casinos reported a 10.6% revenue increase for table games and slots during February compared with results for February 2021. Monthly revenue fell 3.4% compared with January results. Combined January and February table games and slots revenue rose 12.3% compared with the same two-month period last year.
Monthly gaming revenue results by property compared with February 2021 results were:
- MGM, up 34.4% at $46.3 million
- MotorCity, down 7.3% at $28.9 million
- Greektown, down 2.1% at $20.4 million
The three Detroit casinos paid $7.7 million in gaming taxes to the State of Michigan during February compared with $7 million for the same period last year.
The three Detroit casinos reported submitting $11.4 million in wagering taxes and development agreement payments to the City of Detroit during February.
Retail Sports Betting Revenue and Taxes
Retail sports betting qualified adjusted gross receipts (QAGR) were down $794,925 during February compared with the same month last year. Monthly QAGR also was down $2.8 million compared with January results.
February QAGR results by casino were:
- MGM, -$175,082
- MotorCity, -$400,347
- Greektown, -$297,123
Total handle reported by the three Detroit casinos was $25,373,474.
Total gross receipts reported by the three Detroit casinos were -$869,939.
Because of the negative results, neither the State of Michigan nor the City of Detroit collected taxes from retail sports betting during February.
Year to date through Feb. 28, aggregate retail sports betting QAGR results were:
- MGM, $306,703,
- MotorCity, $121,146
- Greektown, $632,672
Fantasy contest operators reported total adjusted revenues of $1.7 million and paid taxes of $143,984 for January.
"The Michigan Gaming Control Board shall ensure the conduct of fair and honest gaming to protect the interests of the citizens of the State of Michigan."