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Detroit’s Casinos Report $100.9m in Revenue for January

17 february 2022
Author: James Burton
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The gambling establishments of Detroit have reported the recent revenue numbers that have been amassed in January this year. The income of MGM Grand Detroit for this month turned out to be 48.65 million USD, which ended up being a bit less than half of the total revenue that all local casinos gained throughout the month.

Detroit’s casinos report $100.9m in revenue for January

Statistical Data

The 3 gambling spaces that are located in Detroit have earned 100.9 million USD last month. The majority of this income was made by slot games and tabletop entertainment.

Compared to last year’s numbers, these stats rose by 14% and brought a total of 98.97 million USD. There is a significant gap between these activities and the sports wagering business, which only ended up bringing 1.93 million USD. This means that the overall number managed to hit past the 100 million USD record, which became a considerable achievement.

Detroit Establishments Stats

Out of the total number of monthly revenue that was gained by 3 casino spaces, the most successful was MGM Grand Detroit. MotorCity Casino became the second most profitable business in the city, with 29.87 million USD of revenue. Greektown Casino has presented the number of 20.45 million USD.

Despite retail betting on sports not being the biggest success out of all the activities, especially when standing next to the slot and table games, it still contributes a lot to the industry. The general earnings of January amounted to 35.87 million USD. The QAGR of Greektown, MotorCity and MGM Grand became 929,796 USD, 521,493 USD, and 481,785 USD respectively.

Conclusions

Even despite the solid earnings, the general revenue numbers of all the casino establishments went down by 11% compared to the previous month. The QAGR became 52.4% less than in the same month in 2021, although compared to the final month of 2021, December, it rose by 74.8%.

The establishments had to pay off their tax money to the Michigan government, which turned out to be 8 million USD. For comparison, January 2021 was the month when they had to give 1 million USD for taxation purposes. There has been a separate payment of 11.8 million USD, which stood for betting-related taxes sent to the Detroit city government.

As for the betting industry money paid to the state, it was 73,070 USD for the retail bookmaker business. It became known that all 3 establishments have sent 89,308 USD of taxes to the Detroit administration.

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