Detroit casino revenue drops to $106.1m in August
The combined table games and slots revenue of MGM Grand Detroit Casino, MotorCity and Greektown was down 6.9 per cent year-on-year.
US.- Detroit’s three casinos reported $106.1m in monthly aggregate revenue for August. According to the Michigan Gaming Control Board, table games and slots generated $104.5m and retail sports betting $1.6m.
Table games and slots revenue from the MGM Grand Detroit, MotorCity Casino and Penn National’s Hollywood Casino at Greektown was down from 6.9 per cent from August 2021 and down 1.4 per cent from July of this year. Year-to-date table games and slots revenue was up 1.7 per cent year-on-year.
MGM Grand Detroit accounted for 48 per cent of the market share, MotorCity Casino 31 per cent and Hollywood Casino at Greektown 21 per cent. Compared to August 2021’s figures, MGM’s revenue decreased 3.7 per cent to $50.3m, while MotorCity Casino was down 11.5 per cent to $32.3m and Hollywood Casino at Greektown down 6.7 per cent to $21.8m.
The three Detroit casinos paid $8.5m in wagering taxes to the state of Michigan during August compared with $9.1m for the same month last year. During August, the three Detroit casinos reported submitting $16.5m in wagering taxes and development agreement payments to the City of Detroit.
See also: Michigan regulator aims to promote responsible gaming among students
Retail sports betting qualified adjusted gross receipts (QAGR) during August rose a fractional 0.8 per cent when compared with August 2021. QAGR increased 32.2 per cent compared with July results. The three Detroit casinos reported a retail sports betting handle of $11m. Gross sports betting receipts were $1.6m.
During August, retail sports betting gaming taxes paid to the State of Michigan were $62,856 (August 2021: $62,371). The three Detroit casinos paid $76,824 in wagering taxes and development agreement payments to the City of Detroit.
First Sports & Social DraftKings venue to open in Detroit
DraftKings and Live! Hospitality and Entertainment have announced that their Sports & Social DraftKings venue in Metro Detroit, Michigan, will open this autumn. The venue is located at Somerset Collection, a shopping destination.
The first Sports & Social DraftKings will have a bar and restaurant, sports viewing and wagering. Guests will be able to use the DraftKings app to play fantasy sports and place bets from their mobile devices on a variety of sports while watching live. There will be a 32-foot LED media wall and flat-screen televisions.
The 10,400 square-foot location will include a DraftKings Lounge that can be used by guests for private parties and events, as well as a dog-friendly outdoor patio.
