The Michigan Gaming Control Board, also known as the MGCB, has released total revenue numbers for the three retail casinos in Detroit. According to the press release, the three retail casinos reported yearly aggregate revenue of $1.276 billion. This figure was just a 1.4% decline compared to the $1.294 billion the three casinos generated in 2021.
The report was released on Tuesday, January 10th, and goes into more detail about how the three casinos performed last year. According to the report, the 2022 market shares were:
- MGM Grand Detroit with 48%
- MotorCity Casino with 31%
- Hollywood Casino at Greektown with 21%
Revenue from December 2022
Last month, more players visited the casino for slots and table games, and as a result, the three casinos reported a monthly combined revenue of $109.9 million in December. When compared to November 2022, December’s total retail revenue was up 9.1%. December was actually the second largest revenue-generating month for the retail casinos for 2022, behind only April (with $116.9 million)
Of the $109.9 million generated by the three retail casinos, $108.3 million, or 98.5% of revenue, was brought in from slots and table games. Retail sports wagering produced just $1.6 million in December revenue for the three casinos.
The $109.9 million in revenue represents a 2.37% decrease compared to December 2021’s revenue of $112.5.
Q4 2022 VS Q4 2021
When reviewing last quarter’s revenue numbers, it’s clear that in-person gambling and sports betting were slowing down in Q4 of 2022. The three casinos’ combined revenue during Q4 was down 5.4% compared to Q4 2021 figures. Tax revenue, unsurprisingly, also dropped for Q4 2022 to $25 million from the three casinos, a 6% decrease compared to the $26.5 million generated in 2021.
- Q4 2022 retail revenue – $144.1 million
- Decrease of 5.4% year-over-year
- Q4 2022 retail revenue – $95.4 million
- Decrease of 9.1% year-over-year
Hollywood Casino at Greektown
- Q4 2022 retail revenue – $69.4 million
- Decrease of 0.02% year-over-year
Tax revenue – YoY Comparison
During December 2022, Michigan’s three retail casinos generated a total of $8.8 million in wagering taxes, a 2.22% drop from December 2021’s figure of $9 million. The City of Detroit was given $13.4 million in wagering taxes and development agreement payments during December. Below is a comparison of tax revenue between 2021 and 2022.
Detroit Casinos Tax Revenue Comparison
- State taxes generated from casino and table games during 2021: $102.6 million
- State taxes generated from casino and table games during 2022: $101.8 million (0.78% decrease)
- Detroit city taxes generated from casino and table games during 2021: $160.8 million
- Detroit city taxes generated from casino and table games during 2022: $155.6 million (3.23% decrease)
- Sports betting state taxes from three Detroit casinos in 2021: $1 million
- Sports betting state taxes from three Detroit casinos in 2022: $711,000 (22.9% decrease)
- Sports betting Detroit tax revenue in 2021: $1.3 million
- Sports betting Detroit tax revenue in 2022: $896,000 (31% decrease)
When reviewing the numbers from the MGCB, it’s clear both the state and city of Detroit took a small tax revenue hit this year. Overall, the three Detroit-based casinos brought in $259 million in tax revenue, a 2.5% decrease year-over-year. In 2022, the state’s School Aid Fund received $101,814,954 from casinos, while just $711,087 was brought in from retail sports betting.
Total Revenue YoY Comparison
Lastly, here are the total revenue figures for 2022 for MGM Grand, MotorCity, and Hollywood Casino at Greektown.
- Total revenue 2021: $554 million
- Total revenue 2022: $600 million (8.3% increase)
- Total revenue 2021: $438.3 million
- Total revenue 2022: $396.5 million (9.5% decrease)
Hollywood Casino at Greektown
- Total revenue 2021: $274.5 million
- Total revenue 2022: $260.5 million (5.1% decrease)
Mac Daniel is a Michigan native and freelance writer for PlayOnlineCasino and PlayOnlineSportsBetting. He has experience writing about a wide variety of topics, including healthcare, tourism, non-profit organizations, and most recently casino and sportsbetting news. To check out more of his work, visit: playonlinemichigan.com