Detroit casinos report $104.9m in revenue for August
Table games and slots generated $104.6m and retail sports betting $322,186.
US.- Detroit’s three casinos generated $104.9m in monthly revenue for August, according to the Michigan Gaming Control Board. Table games and slots generated $104.6m and retail sports betting $322,186.
Table games and slot revenue decreased by 2 per cent when compared to the previous month but was 0.1 per cent higher compared to August 2022. MGM Grand Detroit Casino accounted for 47 per cent of the market share, MotorCity Casino 30 per cent and Hollywood Casino at Greektown 23 per cent.
Hollywood Casino at Greektown reported a 11 per cent gain year-on-year with $24.4m in gaming revenue. MGM’s revenue declined 1.7 per cent to $49.5m and Motor City’s fell 5 per cent to $30.7m.
The three Detroit casinos paid $8.47m in taxes to the State of Michigan. That compares to $8.46m for the same month last year. The casinos submitted $16.5m in wagering taxes and development agreement payments to the City of Detroit.
The three Detroit casinos reported $10m in retail sports bets. Total gross receipts were $327,291. Retail sports betting qualified adjusted gross receipts (QAGR) were down by 80.6 per cent compared to August 2022. August QAGR was down by 32.5 per cent compared to July 2023. Casinos paid $12,179 in gaming taxes to the state and $14,885 in wagering taxes to the City of Detroit based on retail sports betting revenue.
From January 1 through August 31, the casinos’ table games and slots revenue was up 0.8 per cent compared to the same period last year.
See also: Michigan Gaming Control Board votes to renew three Detroit casinos licences
