Michigan Marijuana Sales Surpassed $3 Billion In 2023

KOMORN LAW

STATE and FEDERAL
Aggressive Legal Defense
All Criminal Allegations / DUI / Drugs
Since 1993

In 2023 according to sources on the internet the Michigan  lottery made 46 million , liquor taxes made $31.5 billion this year, a slight increase from previous projections but close to $400 million less than the previous year.  Marijuana about 3 billion.

Michigan’s legal marijuana retailers experienced remarkable success in 2023, generating an impressive $3 billion in cannabis sales. Notably, the sales soared even higher in December, surpassing all previous records.

Licensed businesses achieved a remarkable milestone last month, generating an impressive $279.9 million in total sales, as revealed by the latest state sales data. This outstanding performance sets a new record, surpassing the previous highest monthly earnings of $276.7 million, which were accomplished in July of the previous year.

All recorded sales for 2023, including both adult-use and medical purchases, reached a staggering $3,057,161,285.85, as reported by Michigan’s Cannabis Regulatory Agency (CRA). This figure surpasses the previous year’s total of $2.29 billion by approximately one-third, highlighting the remarkable growth within the industry.

See the CRA Reports

 

RESTORE YOUR SECOND AMENDMENT RIGHTS
RESTORE YOUR PROFESSIONAL LICENSE
RESTORE YOUR DRIVER LICENSE
RESTORE YOUR PAST (Expungements)

Call our Office for a free case evaluation
Komorn Law (248) 357-2550

Detroit casinos report $116.2M in December revenue, $1.237B for year

DETROIT, Jan. 9, 2024 — The three Detroit casinos reported $116.2 million in monthly aggregate revenue (AGR) for the month of December 2023, of which $111.4 million was generated from table games and slots, and $4.8 million from retail sports betting.

The December market shares were:

MGM, 44%
MotorCity, 32%
Hollywood Casino at Greektown, 24%
Monthly Table Games, Slot Revenue, and Taxes
December 2023 table games and slot revenue increased 2.9% when compared to December 2022 revenue. December’s monthly revenue was also 46.6% higher than November 2023. From Jan. 1 through Dec. 31, the Detroit casinos’ table games and slots revenue decreased by 2.7% compared to the same period last year.

The casinos’ monthly gaming revenue results were mixed compared to December 2022:

MGM, down 0.7% to $50.6 million
MotorCity, up by 5.1% to $34.7 million
Hollywood Casino at Greektown, up by 7.5% to $26.1 million
In December 2023, the three Detroit casinos paid $9.0 million in gaming taxes to the State of Michigan. They paid $8.8 million for the same month last year. The casinos also reported submitting $13.8 million in wagering taxes and development agreement payments to the City of Detroit in December.

Quarterly Table Games, Slot Revenue, and Taxes
For the fourth quarter of 2023 that ended Dec. 31, aggregate revenue was down for all three Detroit casinos by 12.9% compared to the same period last year. Quarterly gaming revenue for the casinos was:

MGM: $118.6 million
MotorCity: $84.4 million
Hollywood Casino at Greektown: $66.2 million
Compared to the fourth quarter of 2022, MGM, MotorCity, and Hollywood Casino at Greektown were down by 17.7%, 11.6%, and 4.7%, respectively. The three casinos paid $21.8 million in gaming taxes to the state in the fourth quarter of 2023, compared to $25.0 million in the same quarter last year.

Monthly Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $30.4 million in total retail sports betting handle, and total gross receipts were $4.8 million for the month of December. Retail sports betting qualified adjusted gross receipts (QAGR) in December 2023 were up by $3.1 million when compared to December 2022. Compared to November 2023, December QAGR increased 54.9%.

December QAGR by casino was:

MGM: $291,171
MotorCity: $2.3 million
Hollywood Casino at Greektown: $2.2 million
During December, the casinos paid $180,822 in gaming taxes to the state and reported submitting $221,005 in wagering taxes to the City of Detroit based on their retail sports betting revenue.

Annual Revenue for Table Games, Slots, and Retail Sports Betting
The total yearly aggregate revenue of $1.237 billion — a slight decrease of 3.1% compared to last year — by the three Detroit casinos for slots, table games, and retail sports betting was generated by:

Slots: $984.1 million (80%)
Table games: $238.7 million (19%)
Retail sports betting: $14.0 million (1%)
The casinos’ market shares for the year were:

MGM, 46%
MotorCity, 31%
Hollywood Casino at Greektown, 23%
Compared to 2022, slots and table games yearly gaming revenue for the three casinos were as follows:

MGM, down by 6.0% to $564.0 million
MotorCity, down by 5.8% to $373.6 million
Hollywood Casino at Greektown, up by 9.5% to $285.2 million
Aggregate retail sports betting qualified adjusted gross receipts (QAGR) for 2023 was down by 25.7% to $14.0 million compared to last year, with MGM totaling $2.3 million, MotorCity totaling $5.0 million, and Hollywood Casino at Greektown totaling $6.7 million.

In 2023, the three Detroit casinos paid the state $99.0 million in wagering taxes for slots and table games, and $528,314 in wagering taxes for retail sports betting. In 2022, they had paid $101.8 million and $711,087 for each, respectively.

Fantasy Contests
For November, fantasy contest operators reported total adjusted revenues of $1.8 million and paid taxes of $149,915.

From Jan. 1 through Nov. 30, fantasy contest operators reported $21.3 million in aggregate fantasy contest adjusted revenues and paid $1.8 million in taxes.

Gambling in any form is for entertainment purposes only. If someone has a gambling problem, please call the state’s 24-hour, toll-free helpline at 1-800-270-7117 or the MGCB’s responsible gaming section at 1-888-223-3044. Visit the Responsible Gaming page of the MGCB website for information on self-exclusion programs including the Disassociated Persons List and the Internet Gaming and Sports Betting Responsible Gaming Database, and DontRegretTheBet.org for additional tools to game responsibly.

The Michigan Gaming Control Board shall ensure the conduct of fair and honest gaming to protect the interests of the citizens of the state of Michigan. Learn more at Michigan.gov/MGCB.

How is the money spent?

Komorn Law – Federal Courts and All Michigan Courts

More Posts

Do Students Have 4th Amendment Rights in Schools

Do Students Have 4th Amendment Rights in Schools

Students and 4th Amendment RightsStudents are entitled to a right to be safe from unreasonable searches and seizures even within school premises, as ruled by the Supreme Court of the United States. However, these rights are somewhat limited for students, allowing...

read more
Facial Recognition and Wrongful Arrests

Facial Recognition and Wrongful Arrests

Facial RecognitionHow Technology Can Lead to Mistaken-Identity Arrests Facial recognition technology has become increasingly prevalent in law enforcement, but its use raises critical questions about civil liberties and accuracy. One landmark case sheds light on the...

read more
People v. Chandler Case: Protecting Fourth Amendment Rights

People v. Chandler Case: Protecting Fourth Amendment Rights

Court of Appeals of Michigan PEOPLE of the State of Michigan, Plaintiff-Appellee, v. Javarian CHANDLER, Defendant-Appellant. No. 368736 Decided: June 27, 2024Before: Borrello, P.J., and Swartzle and Young, JJ. Introduction In the People v. Chandler case, the Michigan...

read more
Chinese-funded marijuana farms springing up across the U.S.

Chinese-funded marijuana farms springing up across the U.S.

Inside the Chinese-funded and staffed marijuana farms springing up across the U.S.During a farm inspection, New Mexico state special agents discovered an excessive number of cannabis plants in violation of state laws. Subsequent visits revealed dozens of underfed and...

read more
Seattle settles case involving – the rights of nature

Seattle settles case involving – the rights of nature

The Rights of NatureSeattle settled a lawsuit brought by the Sauk-Suiattle Tribe on behalf of salmon harmed by dams on the Skagit River. This is one of the first "rights of nature" cases in the US, and the tribe argued that the lack of fish passage measures violated...

read more
NY judge fines unlicensed cannabis shops $15 million

NY judge fines unlicensed cannabis shops $15 million

It's their corner now“This punishment should serve as a clear warning for all unlicensed cannabis stores in the state: we will enforce the law and shut down your operations,” state Attorney General Letitia James saidThe owner of seven unlicensed cannabis shops in New...

read more
Michael Komorn-Criminal Defense Attorney

About Your Attorney

Attorney Michael Komorn

Categories

Other Topics

Driving Under the Influence

No Results Found

The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.

Michigan

Your Rights

Michigan Court of Appeals

Law Firm VIctories

Share This