mgm detroit

Detroit’s Three Casinos Continue To Recover Two Years Into Pandemic

The trio of Detroit casinos roared out of March with $122.86 million in aggregate revenue for the month, up from $113.84 million in March of 2021, according to numbers released by the Michigan Gaming Control Board.

And while that increase is a positive development, the number is a far cry from March 2019 (the casinos were closed for half of March 2020 due to the coronavirus) when the casinos brought in over $140 million in revenue.

Of course, that was both pre-COVID and pre-online sportsbooks and mobile casinos becoming legal. Regardless, March 2022’s revenue was a positive development for the three casinos.

Sports betting receipts

On the retail sports betting side, the qualified adjusted gross receipts (QAGR) came in at $1.93 million, which was down over a million dollars from March 2021. That was on a handle of $26.3 million, for a more-than-reasonable 7.3% hold.

By casino, MotorCity was the QAGR leader at $718,442, followed by Greektown at $664,550 and MGM at $545,336.

Year-to-date on the QAGR front, Greektown has the lead at a hair under $1.3 million, followed by MGM at $852,039 and MotorCity at $839,588.

On the tax side, the state took in $72,891 from retail sports betting and the city of Detroit was the recipient of $89,089.

Tables and slots, oh my

Table and slot revenue was up over 9% compared to March 2021, buoyed almost entirely by MGM, which saw its monthly gaming revenue soar by over 29% compared to a year ago to $55.9 million. MotorCity’s revenue was at $39.3 million, a 6.5% decrease from March 2021, and Greektown saw its revenue climb by 0.4% to $25.7 million for the month.

The three casinos paid the state $9.8 million in taxes for the month and paid another $14.4 million to the city of Detroit.

Through the first quarter of 2021, table and slot revenue is up 11% from the same period last year.

Photo: Shutterstock

Author: Bradley King