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Land-BasedCasinoFinancialSports Betting

Detroit casinos post February growth, despite drop in retail sports betting revenue

Casinos in Detroit posted total revenue of $94.7m for February, with table games and slots income growing 10.6% year-on-year. 

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Despite this, retail sports betting posted a $0.9m loss for the month, possibly reflecting the growing online and mobile wagering market.  

The loss of earnings means neither the state of Michigan nor the city of Detroit collected sports betting taxes for the month of February.  

In more positive news, the revenue generated by table games and slots content totalled $95.6m across the city’s three casinos. However, while this represented an increase compared with the same month in 2021, the revenue generated fell 3.4% from January.  

Of the three casinos in the area, MGM Grand Detroit was the market leader for the month of February, collecting a 49% share of the revenue. MotorCity Casino Hotel took a 30% share of the market, while Greektown Casino came in with 21%. 

MGM Grand Detroit, which also claimed top spot in January, reported an increase of 34% in gaming revenue; however, MotorCity recorded a drop of 7.3% and Greektown Casino’s revenue fell by 2.1%. 

Across the three properties, retail sports betting suffered losses amounting to approximately $870,000. Qualified adjusted gross receipts (QAGR) were down $794,000 year-on-year, while also suffering a decrease of $2.8m compared with January’s receipts. 

While the casinos recorded a combined handle of $25.3m, MGM Grand Detroit reported a $175,000 loss, MotorCity’s deficit amounted to $400,000 and Greektown recorded a loss of $297,000. 

Financial results for Michigan’s online casino and sports betting performance are reported separately.


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