The gambling houses in Detroit, Michigan, witnessed a surge in earnings of 8.0% in March, reaching $122.9 million (£94.6 million/€113.5 million).
The Michigan Gaming Control Board (MGCB) attributed this upswing primarily to the fact that gambling establishments were operating at a reduced capacity in March of the previous year due to the state’s novel coronavirus (Covid-19) restrictions.
However, it was also observed that the March 2022 figures surpassed the $94.7 million recorded in February, indicating a month-to-month growth of 29.8%.
MGM Grand Detroit led the pack with a 46% market share, followed by MotorCity Casino with 33% and Penn National’s Greektown Casino Hotel with 21%.
Analyzing the monthly performance, table games and slot machines generated $120.9 million of the total revenue in March, representing a year-on-year increase of 9.1% and a 26.5% rise compared to February.
MGM’s table games and slot machine revenue reached $55.9 million, while MotorCity brought in $39.3 million and Greektown $25.7 million.
The three casinos contributed $9.8 million in gaming taxes to the state of Michigan during the month, in addition to $14.4 million in wagering taxes and payments to the development agreement with the city of Detroit.
Shifting focus to sports betting, the total qualified adjusted gross receipts (QAGR) in March amounted to $1 million, reflecting a 65.0% decline from March 2021, but an increase from $31.
During the second month of the year, the rate of increase hit three percent.
MotorCity is at the forefront of the sports wagering industry, boasting a compound annual growth rate of seven hundred eighteen thousand four hundred forty-two dollars, surpassing Greektown’s six hundred sixty-four thousand five hundred fifty dollars, and followed by MGM’s five hundred forty-five thousand three hundred thirty-six dollars.
The gambling establishments processed a total of twenty-six point four million dollars in wagers, generating two million dollars in earnings, with seventy-two thousand eight hundred ninety-one dollars going to state levies and eighty-nine thousand eighty-nine dollars going to Detroit’s retail sports betting tax.
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