January was a busy month for the three retail casinos in Detroit. According to figures released by the Michigan Gaming Control Board (MGCB) on February 14th, the three retail casinos brought in $103.5 million in monthly aggregate revenue for the first month of 2023.
The figure is a slight drop from December 2022 but up year over year compared to figures from January 2022. Last January, the three casinos brought in a combined monthly aggregate revenue of $99 million. The three casinos were up 4.4% last month compared to January 2022’s figures.
Michigan’s favorite retail casino, MGM Grand Detroit, led the pack last month by accounting for 48% of the total revenue generated in January. MotorCity Casino Hotel claimed the number two spot, controlling 30% of the market. The Hollywood Casino at Greektown controlled the remaining 22% of the market.
When comparing figures for table games and slot machines, the three casinos experienced a 4.4% gain year over year. In fact, each of the three casinos experienced growth in this area year over year. Table games and slots were up 3.2% year over year for MGM Grand Detroit ($50.2 million), 1.3% for Motor City Casino Hotel ($30.3 million), and 11.9% for Hollywood Casino at Greektown ($22.9 million).
Despite the win, it still wasn’t enough to beat out December’s figures. Month over month, Detroit’s retail casinos brought in 4.5% less revenue in January.
Total revenue from slots and table games January 2023: $103.4 million
Total revenue from slots and table games December 2022: $108.3 million
Retail Sports Betting Numbers
MotorCity Casino Hotel was the only Detroit casino to post a positive number for sports betting in January. MGM Grand Detroit and Hollywood Casino at Greektown were both in the red last month for retail sports betting.
As many analysts predicted, retail sports wagering is continuing to take hits going into 2023. What’s a little unusual, however, was the dramatic drop in retail sports betting in January.
In January, the three retail casino’s sportsbook operations qualified adjusted gross receipts (QAGR) was down 93.2% when compared with December 2022 and 94.3% when compared with January 2022. The total handle for January was $15,277,683, meaning many bettors won big last month, beating out the books.
January QAGR by casino:
- MGM Grand Detroit: -$62,725
- MotoryCity Casino Hotel: $236,503
- Hollywood Casino at Greektown: -$62,755
Unlike online sports betting, which experienced growth in 2022, retail sports betting fell and continues to do so. It’s a trend we’re seeing across the US, and it’s likely to continue. Sports bettors far prefer placing wagers from their phones rather than wagering in person at a sportsbook or kiosk, and the downward trend in retail sports betting in the US continues to prove that opinion.
The three casinos in Detroit continue to bring in millions of dollars in tax revenue for both the state government and the City of Detroit. Retail sports betting certainly took a hit last month, but table games and slots helped offset the loss in tax revenue.
Sports wagering tax revenue:
- State tax revenue: $8,940
- City of Detroit tax revenue: $73,070
Table games and slots tax revenue:
- State tax revenue: $8.4 million
- City of Detroit tax revenue: $16.3 million
In Michigan, fantasy contest numbers are reported a month after other revenue figures are released. Below are the figures for December 2022.
- Total adjusted revenue: $1.6 million
- Total taxes paid: $133,324
- Total adjusted revenue for 2022: $16.8 million
- Total taxes paid in 2022: $1.4 million
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