Michigan’s three casinos have maintained a strong start to the year after reporting $105.5m in revenue through February, a figure that builds on the $103.5m reported one month earlier.
Breaking down this headline figure, table games and slots generated $105m (January: $103.4m), while retail sports betting climbed once more to $458,752 (January: $111,023).
Compared with one year earlier, total revenue increased 11.4 per cent from $94.7m, with slots and table games surging 9.8 per cent from $95.6m as wagering turned around a $872,552 loss.
Combined table games and slots revenue during January and February increased 7.1 per cent compared to the figure gained one year earlier.
Maintaining its place at the summit is MGM Grand Detroit that came out on top with a 8.2 per cent revenue rise to $50.1m (2021: $46.3m), for a 47 per cent market share.
MotorCity Casino was next in line via a 7.9 per cent YoY increase to $31.2m (2021: $28.9m) for a 30 per cent slice, ahead of Hollywood Casino at Greektown’s $23.7m, which represented a 16.3 per cent rise from $20.4m. This secured the venue a 22 per cent market share.
During January, the three Detroit casinos paid $8.5m in gaming taxes to the state of Michigan, compared with $7.7m for the same month last year. The trio also submitted $12.5m in wagering taxes and development agreement payments to the city of Detroit.
Retail sports betting qualified adjusted gross receipts recorded a significant swing YoY, with Hollywood Casino leading the way with $373,516 (2021: -$297,123), ahead of MotorCity’s $78,773 (2021:-$400,347) and MGM’s $6,463 (2021: -$175,082).
Combined QAGR for January and February was $569,775, while state taxes from the Detroit casinos was $17,341 compared with nothing one year earlier due to negative results.
During January, fantasy contest operators reported total adjusted revenues of $2.9m (2021: $1.7m) and paid taxes of $244,698 (2021: $143,984).
