Casino operators in Michigan enjoyed a productive March as gaming revenue continued to increase.
The three Detroit casinos, MGM Grand Detroit, Greektown Casino and MotorCity Casino, reported a combined $140.3 million in aggregated revenue for March, a 1.3% year-over-year increase.
Breakdown of the Michigan casino March revenue numbers
According to the Michigan Gaming Control Board (MGCB), the first quarter combined aggregated revenue increased 1.9% from the same period last year totaling $367 million.
You can read the full release here.
MGM saw revenue increase by 1.9% to $59.2 million, marking its highest-ever monthly revenue.
Greektown recorded a modest $32 million an increase of 2.6%. MotorCity, on the other hand, reported a 0.3% decrease with $49.1 million in revenue for the month.
Overall, March revenue was 22.5% higher than in February.
Breaking down overall first-quarter revenue numbers, MGM was the big winner with a 3.9% increase in revenue with $157.6 million.
Greektown revenue was up 1.5% for $84.2 million, and MotorCity reported $125.2 million, down 0.3% compared to last year.
Casino market share and taxes
Additionally, the MGCB released market share data showing the following:
- MGM: 42%
- MotorCity: 35%
- Greektown: 23%
Thanks to a steady revenue increase, the three Detroit casinos paid $11.4 million in gaming taxes to the state, up from $11.2 million in March 2018.
The state collected $29.7 million in gaming taxes for the quarter, another increase from last years $29.2 million. Combined, the three casinos contributed $16.7 million in wagering taxes and development agreement payments to the city of Detroit during March.
Sports betting and online casino coming?
Sports betting and online gambling may join the fray soon in Michigan.
Rep. Brandt Iden has been pushing his crown jewel, HB 4311, for what seems like an eternity.
The revised bill would institute a 9.25% tax on all games, including slots and set a $300,000 licensing fee for sports betting.
In March, Iden told Legal Sports Report, he continues to work with stakeholders to “get (sports betting) done.”
This could be the last time iGaming, and sports betting are sponsored by Iden as his term as a Michigan representative comes to an end in 2020 due to term limits.
There is also a separate sports betting bill, S 186, sponsored by Sen. Curtis Hertel floating around the state capital.