- The three Detroit casinos combined to produce $1.276 billion in revenue for 2022.
- MGM Grand Detroit was the top casino in 2022 with 48% of the market share.
- Retail sports betting production went down by 30.2% in 2022 compared to the previous year.
Detroit’s three casinos reported $1.276 in revenue for the year 2022. Of that amount, 77%, or $983.7 million was generated by slot machines while 21%, or $273.3 million came from table games. The remaining 2% or $18.8 million was produced by legal sports betting.
Detroit Casinos Produce $1.276 Billion in Aggregate Revenue During 2022 https://t.co/ZpDjffJ5Jc pic.twitter.com/nHtwmj5rIP
— Corp! Magazine (@CorpMagazine) January 12, 2023
The amount represented a slight 1% decrease from the $1.294 billion in aggregate casino revenue recorded in 2021. Year-over-year gaming revenue from slots and table games declined by a minimal 0.86% to $1.26 billion.
MGM Grand Detroit was the Top 2022 Casino
MGM Grand Detroit was the state’s top-performing casino in 2022 with 48% of the market share. MotorCity Casino followed at 31% while Hollywood Casino at Greektown completed the cast with 21%.
The slots and table gaming revenue for MGM Grand Detroit rose by 8% to $600 million in 2022 and was the only casino in the state to see a performance improvement. MotorCity Casino’s revenue fell to $396.5 million or 9.5% while Hollywood Casino at Greektown reported a decline of 5.1% or a $260.5 million revenue.
For 2022, the three casinos paid a total of $101.8 million in wagering taxes on slots and table games revenues to the state of Michigan as compared to $102.6 million in 2021. They also reported paying a total of $155.6 million in wagering taxes and development agreement payments on slots and table games revenue to the city of Detroit last year versus $160.8 million paid in 2021.
Retail Sports Betting Down in 2022
Retail sports betting went down by 30.2% in 2022 with the three casinos generating $18.81 million in qualified adjusted gross receipts. One year ago, the trio combined to produce $26.91 million in qualified adjusted gross revenues. Qualified adjusted gross revenue (QAGR) is computed by subtracting the monetary value of free play incentives provided to and wagered by sports bettors from the total betting handle.
Hollywood Casino at Greektown was the top-notcher in retail sports betting production with $7.05 million in adjusted gross receipts. MGM Grand Detroit came in second with $6.21 million while MotorCity generated a total of $5.55 million in revenues.
Total sports betting taxes paid by the casinos to the state of Michigan in 2022 was $711,087 which was lower than the $1 million remitted in 2021. They also paid a total of $869.107 worth of retail sports betting taxes to the city of Detroit in 2022 as compared to $1.2 million paid in 2021.
December 2022 Production Lower than Previous Year
The aggregate total revenue for the 3 Michigan casinos for December 2022 was $109.9 million, an amount which was $2.6 million lower than what they made for the same period in 2021. The December 2022 total was broken down as $108.3 million for slots and table games and $1.6 million for retail sports betting.
December 2022 slots and table game revenues declined by 2.8% on a year-over-year comparison. However, they were 8.4% better than the $99.9 million that the three casinos reported in November 2022. The casinos paid a total of $8.8 million in state wagering taxes in 2022 which was a decrease from the $9 million paid in 2021. Meanwhile, payments to the city of Detroit was at $13.4 million in December 2022.
MGM posted $51 million in slots and table games for December 2022, a slight 0.8% drop off from its December 2021 figures. MotorCity had the biggest decline at 5.7% or down to $33 million while Hollywood Casino at Greektown had a decrease of 2.9% to $24.3 million versus 2021.
