Detroit casino revenue up in February

The Detroit News
Detroit casino revenue up in February

Detroit's three casinos reported a combined $105.5 million in revenue for February, according to numbers released Monday by the Michigan Gaming Control Board.

Table games and slots generated $105 million in revenue for the month, up 9.8% year-over-year and 1.6% over January.

Retail sports betting, meanwhile, produced $458,752, compared to negative results in February of last year.

MGM Grand Detroit led with 47% market share for the month, followed by MotorCity Casino with 30% and Hollywood Casino at Greektown with 23%. All three properties reported year-over-year increases in revenue tied to table games and slots.

For the month, the casinos paid $8.5 million in gaming taxes to the state, up from $7.7 million a year ago. They submitted $12.5 million in wagering taxes and development agreement payments to the city.

On the retail sports betting side, qualified adjusted gross receipts were up by $1.3 million from a year ago, when the properties reported combined losses of $875,552. Results also were up over January.

The total handle, or amount wagered, for the month was $12.2 million, down from nearly $25.4 million a year ago.

The casinos paid $17,341 in state taxes tied to retail sports betting for February, and $21,194 in wagering taxes to the city.

March results are likely to be bolstered by an increase in sports betting, with some 68 million people in the United States expected to wager a total of $15.5 billion on the NCAA basketball tournament, according to the American Gaming Association.

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