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Detroit casino revenue up 2.6% to $103.5m in January


Revenue at the three land-based commercial casinos in Detroit increased 2.6% year-on-year in January despite a sharp drop in sports betting revenue.

Total revenue amounted to $103.5m for the month, up from $100.9m in January 2022 but 5.8% lower than $109.9m in December last year.

Table games and slots accounted for almost all revenue during January, generating $103.4m in total, up 4.4% year-on-year.

However, qualified adjusted gross receipts (QAGR) from retail sports betting in January fell 94.3% to $111,023, with two of the three casinos posting a loss in this area.

MGM Grand Detroit remained the market leader with a 48% share of the land-based casino sector in the Michigan city, ahead of MotorCity Detroit on 30% and the Hollywood Casino at Greektown with 22%.

Breaking down each operator’s performance, MGM posted $50.2m in gaming revenue but a $62,725 loss from sports betting.

MotorCity’s gaming revenue was $30.3m and sports betting QAGR a positive of $236,503, while Greektown’s gaming revenue reached $22.9m and sports betting QAGR negative $62,755.

The three casinos paid $8.4m in gaming taxes to the State of Michigan and $16.3m worth of wagering taxes and development agreement payments to the City of Detroit during January.

For sports betting, State taxes were $8,940 and wagering taxes to the City of Detroit stood at $10,926.