Detroit Casinos Win $94.7 Million In FebruaryRetail Sportsbooks Lose Money During Month |
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The three Las Vegas-style casinos in Detroit, Mich. reported $94.7 million in retail gambling revenue in February, according to figures released March 10 by the Michigan Gaming Control Board.
Table games and slots generated $95.6 million in revenue while retail sports betting results showed a roughly $870,000 loss. The figures do not include revenue from online casino gambling or online sports betting.
The market shares for the casinos during February were:
The casinos reported a 10.6% revenue increase for table games and slots during February compared with results for February 2021, when they were still operating under COVID-19 restrictions. On a month-over-month basis, gaming revenue fell 3.4% compared with January.
Combined January and February table games and slots revenue rose 12.3% compared with the same two-month period last year.
The three Detroit casinos paid $7.7 million in gaming taxes to the State of Michigan during February, up from $7 million for the same period last year.
The three casinos also reported submitting $11.4 million in wagering taxes and development agreement payments to the City of Detroit during February.
Total gross sports betting receipts reported by the trio of casinos in February were negative $870,000. Total handle reported by the properties was $25.3 million.
MGM had nearly $200,000 in sports betting losses, compared with about $400,000 for MotorCity, about roughly $300,000 for Greektown.
While online gambling is booming in the state, the Detroit casinos are still recovering from the pandemic. The retail casinos reported $1.294 billion in gambling win in 2021. The casinos generated just $639 million in winnings in 2020. The won a record $1.454 billion in 2019.
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