Detroit casinos win $1.27 billion from gamblers in 2022

Detroit casinos win $1.27 billion from gamblers in 2022

The Michigan Gaming Control Board released comprehensive data on gambling in the city of Detroit last year.

Detroit’s three land-based casinos had annual revenue of $1.276 billion 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% to revenue to $18.8 million.

The numbers do not include money generated by various forms of online gambling that are legal in Wolverine State.

By comparison, casinos produced $1.294 billion in overall revenue in 2021. The 2022 market shares were: mgm extension Grand Detroit, 48%, MotorCity Casino, 31%, and Hollywood Casino in Greektown, 21%.

Year-over-year gaming revenue for slots and table games was down a fraction of 0.8% to $1.26 billion. mgm extension Grand Detroit’s revenue increased 8.3% to $600 million. MotorCity Casino revenue decreased 9.5% to $396.5 million. Hollywood Casino in Greektown reported a 5.1% drop in revenue to $260.5 million.

During 2022, Detroit’s three casinos paid the State of Michigan $101.8 million in gambling taxes on slots and table games, up from $102.6 million in 2021.

Detroit’s three casinos reported earning $155.6 million in betting taxes and development deal payments on slots and table game revenue to the city of Detroit during 2022 compared to $160.8 million paid in 2021 .

The three casinos reported aggregate retail sports betting adjusted adjusted gross revenue of $18.81 million, down 30.2 percent from the $26.95 million reported in 2021. Qualified adjusted gross revenue (QAGR) is the gross revenue from sports betting minus the monetary value of the free play incentives provided and wagered by bettors.

Detroit’s three casinos paid $711,087 in retail sports betting taxes to the State of Michigan in 2022 compared to $1 million in 2021. They reportedly sent $869,107 in retail sports betting taxes to the city of Detroit compared to $1.2 million paid in 2021.

In calendar year 2022, casino betting taxes contributed $101,814,954 to the state education aid fund, and the fund received $711,087 from retail sports betting taxes.