Detroit Casinos Win $1.27 Billion From Gamblers In 2022Slots Account For Nearly 80% Of Winnings |
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Detroit Casinos Win $1.27 Billion From Gamblers In 2022
The Michigan Gaming Control Board has released full figures from gambling in the City of Detroit last year.
The three brick-and-motar Detroit casinos reported $1.276 billion in yearly revenue in 2022. Slots generated 77% of revenue at $983.7 million, table games provided 21% of revenue at $273.3 million, and retail sports betting added 2% of revenue at $18.8 million.
The numbers don’t include money generated from various forms of online gambling that are legal in the Wolverine State.
By comparison, the casinos produced $1.294 billion in aggregate revenue in 2021. The 2022 market shares were: MGM Grand Detroit, 48%, MotorCity Casino, 31%, and Hollywood Casino at Greektown, 21%.
Year-over-year gaming revenue for slots and table games declined a fractional 0.8% to $1.26 billion. MGM Grand Detroit’s revenue rose 8.3% to $600 million. MotorCity Casino’s revenue fell 9.5% to $396.5 million. Hollywood Casino at Greektown reported a 5.1% decline in revenue to $260.5 million.
During 2022, the three Detroit casinos paid $101.8 million in wagering taxes on slots and table games revenue to the State of Michigan compared with $102.6 million in 2021.
The three Detroit casinos reported making $155.6 million in wagering taxes and development agreement payments on slots and table games revenue to the City of Detroit during 2022 compared with $160.8 million paid in 2021.
The three casinos reported aggregate retail sports betting qualified adjusted gross receipts of $18.81 million, down 30.2% from the $26.95 million reported in 2021. Qualified adjusted gross receipts (QAGR) are gross sports betting receipts minus the monetary value of free play incentives provided to and wagered by bettors.
The three Detroit casinos in 2022 paid $711,087 in taxes for retail sports betting to the State of Michigan compared with $1 million in 2021. They reported submitting $869,107 in retail sports betting taxes to the City of Detroit compared with $1.2 million paid in 2021.
In the calendar year 2022, casino wagering taxes contributed $101,814,954 to the state School Aid Fund, and the fund received $711,087 from retail sports betting taxes.
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