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Detroit Casinos Generate $118 Million In Revenue Last Month

(CBS DETROIT) -- Detroit's three casinos reported $118.73 million in revenue in April, with the state collecting $9.5 million in taxes.

According to the Michigan Gaming Control Board, table games and slots generated $116.86 million while the remaining came from retail sports betting ($1.87 million).

Officials say revenue in table games and slots rose 8.8% compared to last year; however, monthly revenue dropped 3.4% compared to March.

In addition, revenue through April 30 rose 10.4% compared to the first four months in 2021, in which the casinos operated at reduced capacity due to COVID-19-related concerns.

The board says the amount in taxes paid to the state increased from $8.7 million last year.

Here is a breakdown of revenue:

Table Games and Slot Revenue and Taxes

April table games and slots revenue rose 8.8% compared with April 2021 results. April monthly revenue dropped 3.4% compared with March revenue. Through April 30, the casinos' table games and slots revenue rose 10.4% compared with the first four months of 2021. In early 2021, all three locations operated at reduced capacity because of COVID-19-related health concerns.

The casinos' monthly gaming revenue results were mixed compared with April 2021:

  • MGM, up 31.4% to $56.76 million
  • MotorCity, down by 8.8% to $36.42 million
  • Greektown, down 2.6% to $23.68 million

Retail Sports Betting Revenue and Taxes

The three Detroit casinos reported $24,785,686 in total retail sports betting handle, and total gross receipts were $1.9 million.

Retail sports betting qualified adjusted gross receipts (QAGR) were up by 21.3% in April compared with the same month last year. April QAGR fell by 3% compared with March results.

April QAGR by casino was:

  • MGM, $405,385
  • MotorCity, $552,841
  • Greektown, $912,513

Fantasy Contests

For March, fantasy contest operators reported total adjusted revenues of $984,560 and paid taxes of $82,703.

For the first quarter, fantasy contest operators reported $3.8 million in aggregate fantasy contest adjusted revenues and paid $315,013 in taxes.

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