Detroit casino revenue edges up to $123.9m in March

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Revenue in March was clear of the $119.2m posted in the same month last year. March’s total was also 18.5% ahead of the $104.6m recorded in Detroit in February this year.

Some $122.3m of this amount came from slots and table games, up 3.8% year-on-year and 16.7% higher than February. 

In comparison, retail sports betting qualified adjusted gross receipts (QAGR) reached just $1.6m. However, this total was 13.2% ahead of last year and a stark improvement on the $120,142 loss reported in February.

MGM continues to lead the Detroit market

MGM Grand Detroit remains some way out in front in terms of market share in Detroit. The casino reported a 46.0% market share in March.

MGM posted $56.7m in table games and slots revenue, up 4.1%, while sports betting QAGR reached $327,857.

MotorCity Detroit placed second with a 31.0% share of the market. Revenue from slots and table games was 7.2% higher at $38.4m, with sports betting QAGR hitting $538,988.

Hollywood Casino at Greektown rounded off the trio of operators with a market share of 23.0% in March. Slots and table games revenue slipped 1.4% to $27.3m, but it led the way in terms of sports betting QAGR, with this reaching $731,389.

As for tax, the three casinos paid $9.9m in gaming taxes to the State of Michigan. This was in addition to $14.5m in wagering taxes and development agreement payments made to the City of Detroit.

For sports betting, some $60,413 was paid in gaming taxes to the state. A further $73,838 was submitted in wagering taxes to the City of Detroit based on retail sports betting revenue.

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