The Michigan Gaming Control Board (MGCB) has reported a significant increase in casino revenue for March 2022. This rise can be attributed to the casinos operating at reduced capacity in the same month last year due to Covid-19 measures in the state.
Compared to February 2022, the casino revenue for March 2022 showed a substantial month-on-month increase of 29.8%. The MGM Grand Detroit emerged as the market leader with a 46% market share, followed by MotorCity Casino at 33% and Penn National’s Greektown Casino Hotel at 21%.
Breaking down the monthly performance, table games and slots accounted for $120.9 million in revenue, representing a 9.1% year-on-year increase and a 26.5% increase from February 2022. The MGM Grand Detroit contributed $55.9 million, MotorCity Casino posted $39.3 million, and Greektown Casino Hotel generated $25.7 million in revenue from table games and slots.
During March 2022, the three casinos paid $9.8 million in gaming tax to the State of Michigan, as well as $14.4 million in wagering taxes and development agreement payments to the City of Detroit.
In terms of sports betting, the total qualified adjusted gross receipts (QAGR) for March 2022 amounted to $1.0 million. This figure is a 65.0% decrease from March 2021 but represents a 31.3% increase from February 2022. MotorCity Casino led in sports betting with $718,442 in QAGR, followed by Greektown Casino at $664,550 and the MGM Grand Detroit at $545,336.
Overall, the casinos processed $26.4 million in bets, resulting in $2.0 million in gross receipts. State taxes amounted to $72,891, while the City of Detroit received $89,089 in retail sports betting tax.
