(Image: David R. Frazier Photolibrary, Inc. / Alamy)

Following a rather lacklustre January and February, the three casinos in Michigan, Detroit saw their aggregated gaming revenues for March increase by 3.9% year-on-year to top $123.8 million.

The result for the 31-day period published by the Michigan Gaming Control Board regulator encompassed a little over $122.2 million in combined slot and gaming table revenues, along some $1.6 million from retail sports betting.

Recovery Prospects

The accumulated reckoning for March from the 400-room Hollywood Casino at Greektown, MotorCity Casino Hotel and MGM Grand Detroit facilities was far above the $119.2 million recorded for the same month last year and represented the trio’s highest tally since pre-pandemic December of 2019. 

The Detroit trio could now well go on to chalk up an aggregated annual figure in excess of 2023’s $1.23 billion score to be even nearer the $1.45 billion total from four years ago.

The three ‘Motown’ casinos saw their aggregated March revenues from slots and gaming tables swell by 16.7% month-on-month, while their associated sports betting receipts improved by an exceptional 1,380% when compared with February’s deficit of $124,853. 

All of this means the trio recorded $322.8 million in combined first-quarter receipts, which was nevertheless approximately 1.6% down on the $328.2 million figure for the same three-month period last year.

Predictable Positioning

The MGM Grand Detroit property from MGM Resorts International managed to maintain its dominant local position in March with a 46% market share. The similarly sized MotorCity Casino Hotel and Hollywood Casino at Greektown facilities came in second and third, respectively, with 31% and 23% slices.

The regulator explained that Grand Detroit saw its March revenues from slots and casino gaming tables rise by 4.1% year-on-year to over $56.6 million, with the nearby MotorCity Casino Hotel having posted a 7.2% improvement to nearly $38.4 million. There was even some positive news for Hollywood Casino at Greektown, as its monthly tally in this area advanced by 1.4% to surpass $27.2 million.

All of this led the three Detroit casinos to pay $9.9 million in associated state gaming taxes in March, which was almost 18% beyond February’s bill of $8.4 million, alongside city wagering fees and development agreement payments of $14.5 million.

Sports Betting Success

In addition to all of this, the three Detroit casino locations saw their March qualified adjusted gross receipts from retail sports betting swell by 13.2% month-on-month as total handle improved by 30% to beyond $17.2 million. Hollywood Casino at Greektown was the biggest winner here, as its tally hit $731,389, while MotorCity Casino Hotel and MGM Grand Detroit chalked up finishing figures of $538,988 and $327,857, respectively.

The Michigan Gaming Control Board disclosed this success led to the three handing over $60,413 in state sports wagering taxes, which was far above February’s $4,901 toll, alongside $73,838 in fees to the city of Detroit.