Detroit’s retail casinos generated $103.4 million in gaming revenue for January 2023.
That was a 4.4% increase from January 2022, when the three casinos brought in just under $99 million.
Retail sports betting had just $15.3 million in handle for January, a 57% drop from a year ago. In January 2022, the three retail sportsbooks collected $35.9 million in handle.
Detroit casino revenue up slightly year over year
For January, the three Detroit retail casinos reported $103.4 million in revenue from slots and table games. The three Detroit casinos are:
While an increase from January of 2022, it was a 4.5% drop from December’s $108.3 million in revenue.
All three casinos saw a revenue increase from January of last year. MGM Grand led the way with $50.2 million (3.2% growth). MotorCity Casino brought in $30.3 million (1.3% growth), while Hollywood Casino at Greektown recorded $22.9 million (11.9% growth).
During January, the three Detroit casinos paid $8.4 million in gaming taxes to the state of Michigan.
Combined, they also reported submitting $16.3 million in gaming taxes and development agreement payments to the City of Detroit last month.
Michigan retail sportsbooks take a hit
Two of Michigan’s three Detroit retail sportsbooks reported losing revenue in January.
Both the MGM Grand (-$54,479) and Hollywood Casino at Greektown (-$62,755) reported losses to Michigan bettors last month.
MotorCity Casino was the lone with positive gains at $266,613. However, it finished last of the three books for handle.
Here’s what each took in for January:
- Hollywood Casino at Greektown: $5.88 million
- MGM Grand Detroit: $5.70 million
- MotorCity Casino: $3.71 million
The collective revenue of just $149,379 was the lowest total since February 2022 when the three sportsbooks combined for a loss of over $850,000.
The $15.3 million in handle was the lowest retail handle since last August’s $11 million.
State taxes from the Detroit casinos were $8,940 compared with $73,070 for the same month last year.
The three Detroit casinos reported submitting $10,926 in gambling taxes to the City of Detroit during January.
Sports betting continuing to plateau in Michigan
January’s retail sports betting handle is part of a continued plateau of sports betting throughout the state, both in retail and online casinos.
PlayUSA projected late last year that it expects Michigan to reach $4.63 billion in sports betting handle for 2023. That would be a 3.7% drop from the $4.81 billion it recorded in 2022.
Retail sports betting has hit a sharper decline than online.
Unlike online sports betting, which grew in handle from 2021 to 2022, retail sportsbooks saw a decline year-to-year.
The three Detroit casinos brought in $310.6 million in wagers in 2021. That fell to $263.7 million in 2022.
Since online betting became legal in Michigan, only five times in Michigan has the retail sports betting eclipsed $30 million in monthly handle. Four of those months came in 2021, while the other was January of 2022.