Detroit casinos report $107.2m in revenue for July
The combined table games and slots revenue of MGM Grand Detroit Casino, MotorCity and Greektown was down 8.4 per cent year-on-year, but retail sports betting grew 3.8 per cent.
US.- Detroit’s three casinos reported $107.2m in monthly aggregate revenue for July. According to the Michigan Gaming Control Board, table games and slots generated $105.9m and retail sports betting $1.3m.
Table games and slots revenue from the MGM Grand Detroit, MotorCity Casino and Penn National’s Hollywood Casino at Greektown was down from 8.4 per cent from July 2021, but up 7.9 per cent from $98.2m in June of this year. Through July 31, table games and slots revenue increased 3 per cent compared with results for the first seven months of last year.
MGM Grand Detroit accounted for 48 per cent of the market share, MotorCity Casino 33 per cent and Hollywood Casino at Greektown 19 per cent. Compared to July 2021’s figures, MGM’s revenue decreased 4.7 per cent to $51.2m, while MotorCity Casino was down 9.6 per cent to $34.8m and Hollywood Casino at Greektown down 15 per cent to $19.9m.
The three Detroit casinos paid $8.6m in wagering taxes to the state of Michigan during July compared with $9.4m for the same month last year. During July, the three Detroit casinos reported submitting $12.6m in wagering taxes and development agreement payments to the City of Detroit.
Retail sports betting qualified adjusted gross receipts (QAGR) were $1.3m in July, up 3.8 per cent compared with July 2021. QAGR was also up by $809,532 from June results of $448,703. The Detroit casinos reported a retail sports betting handle of $18.8m. Total gross receipts were $1.3m.
The state received $47,561 in retail sports betting taxes from the three Detroit casinos. The casinos also reported submitting $58,130 in retail sports betting wagering taxes and development agreement payments to the city during July.
Year-to-date retail sports betting QAGR by casino was: MGM, $2.3m; MotorCity, $2.4m; Hollywood Casino at Greektown, $4.3m.
See also: Michigan legislature increases funding for Gaming Control Board
Licence renewal
The Michigan Gaming Control Board has voted unanimously to approve the one-year renewal of licences for Detroit’s three casinos. MGM Grand, MotorCity Casino and Hollywood Casino Greektown will be permitted to operate for another year.
Henry Williams, MGCB executive director, said: “A casino licence is a privilege granted by the State of Michigan. Board members and agency staff take seriously our responsibilities when reviewing this privilege each year as required by law.”
