MGM maintains dominant Detroit position in January

Michigan’s three casinos, all situated within Detroit, have reported revenue of $100.9m through the month of January, with table games and slots generating $98.97m while sports betting contributed $1.93m.

The performance across the 31 days sees MGM Grand Detroit come out on top once more with a 49 per cent market share, ahead of MotorCity Casino’s 30 per cent and Greektown’s 21 per cent.

The casinos’ January table games and slots revenue was up 14 per cent compared with January 2021, but reported an 11.1 per cent month-on-month decline from December.

When contrasted to the performances recorded one year earlier, monthly gaming revenue rose 43.3 per cent to $48.65m for MGM and 4.1 per cent to $20.45m for Greektown, however MotorCity reported a downfall of 9.9 per cent to $29.87m. The casinos operated at limited capacity in January 2021 due to pandemic-related health concerns.

The gaming establishments paid $8m in gaming taxes to the state of Michigan compared with $7m during the same period last year, as well as submitting $11.8m in wagering taxes and development agreement payments to the city of Detroit.

Retail sports betting qualified adjusted gross receipts dropped 52.4 per cent in January to $1.93m compared with one year earlier, as well as being down by 74.8 per cent when contrasted with December.

Total handle for the month stood at $35.87m, with QAGR by casino seeing Greektown lead with $929,796, ahead of MotorCity’s $521,493, and MGM’s $481,785.

The state received $73,070 in taxes from the casinos on retail sports betting, with the properties submitting $89,308 in retail sports betting taxes to the city.

For December, fantasy contest operators reported total adjusted revenues of $772,465 and paid taxes of $64,887, with this reaching $16.2m and $1.4m, respectively, for the full year of 2021.