Michigan Casinos Collected $119.2 Million In Revenue In March
The Michigan Gaming Control Board (MGCB) has revealed March figures for the three commercial casino properties in Detroit. For the first three months of 2023, commercial Michigan casinos showed a minor increase in revenue compared to Q1 last year.
In March, the three casinos generated $117.79 million in revenue from slots and table games. That’s a 12.2% increase from February’s $105.0 million.
March monthly aggregate revenue, including in-person sports betting, was $119.2 million. At the same time last year, the figure was $122.8 million.
Michigan casinos’ March revenue adds to tax total
The state received $9.54 million in tax receipts, while the City of Detroit gathered $14.02 million in betting tax. The city collected $46.7 million in tax revenue from the beginning of the year. That’s 24.4% more versus the first three months of 2022. In total, the state has also received $26.42 million in gaming taxes during the first quarter.
Detroit casinos revenue falls compared to March of 2022
Detroit casinos’ revenue from slots and table games&n bsp;fell by 2.6% compared to the same time last year.
MGM Grand Detroit collected the most money, surpassing $50 million in revenue. However, Hollywood Casino at Greektown was the only casino to report an increase in March revenue year-over-year (YOY).
Here’s how Detroit casino revenue numbers looked in March:
- MGM Grand: $54.40 million (2.7% YOY decrease)
- Motor City Casino: $35.76 million (9% YOY decrease)
- Hollywood Casino: $27.64 million (7.5% YOY increase)
In terms of the Michigan casino market share revenue in March, here’s how much each collected:
- MGM Grand Detroit: 46%
- Motor City Casino: 30%
- Hollywood Casino Greektown: 24%
Detroit retail sportsbooks reported just $13.9 million in total handle. The figure is almost 50% less than $26.3 million from March last year.
Detroit casinos’ first quarter results show progress
Detroit’s three casinos reported $326.16 million in total aggregate revenue for the year’s first quarter. That’s up 3.4% from 2022’s $315.5 million.
During Q1 2023, MGM Grand was most successful in terms of total adjusted revenue. Here’s a complete breakdown:
- MGM Grand generated $154.67 million (2.5% increase)
- Motor City Casino got $97.27 million (0.9% decrease)
- Greektown Casino collected $74.21 million (an 11.5% increase).