Detroit Casinos, Retail Sportsbooks See Spike in Revenue During March

Detroit Casinos, Retail Sportsbooks See Spike in Revenue During March

By Christopher Boan

Fact Checked by Michael Peters

The third month of the year was a good one for Michigan gambling, as Detroit’s trio of casinos took in $122.86 million in aggregate revenue, representing a 7.9% increase from February.

The overall breakdown from March’s report released by the Michigan Gaming Control Board on Tuesday shows $120.93 million in table games and slots revenue to go with another $1.93 million from retail sports betting.

In terms of overall market share, MGM Detroit was the No. 1 operator at 46%, while the casino raked in $55.92 million in monthly gaming revenue — a 29.4% increase over February’s total.

Coming in after MGM were MotorCity (33% of market share, $39.29 million in monthly gaming revenue) and Greektown (21% and $25.72 million).

MotorCity was the leader in Michigan sports betting retail gross receipts among the three facilities, raking in $718,442 — ahead of Greektown ($664,550) and MGM ($545,336).

Detroit’s retail sportsbooks took in $26.3 million in handle in March. In February, the state’s mobile sportsbooks had $423.7 million in handle, down 20.4% from January.

What Stood Out from March’s Report

One of the main standout points from March’s Detroit casinos report was overall growth of table games and slots revenue.

Table games and slots had a 9.1% increase in revenue, year-over-year, to go with a 26.5% increase when compared to February’s totals. Revenue and taxes were down for Michigan casinos in February as compared to January.

Retail sports betting revenue fell $1.04 million year-over-year, but posted a $2.8 million improvement in qualified adjusted gross receipts from February’s numbers.

Overall, the third quarter showed an 11% jump in table games and slots revenues, compared to the first quarter of 2021. Retail sports betting went from -$872,552 in revenue during February to $1.93 million in March.

In terms of taxes collected, Detroit’s casinos contributed $14.4 million in wagering taxes to the city of Detroit, along with $9.8 million to the state from table games and slots revenues.

The three casinos chipped in $72,891 in taxes off their retail sports betting handle in March to the state, to go with $89,089 in taxes to the city of Detroit.

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Christopher Boan
Christopher Boan has covered sports and sports betting for more than seven years and has worked for publications such as ArizonaSports.com, the Tucson Weekly and the Green Valley News.
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Christopher Boan has covered sports and sports betting for more than seven years and has worked for publications such as ArizonaSports.com, the Tucson Weekly and the Green Valley News.
... Read More