Detroit casinos report $112.5m in revenue for August
The three Detroit casinos reported a $9.61m sports betting handle.
US.- The three Detroit casinos reported $112.5m in monthly aggregate revenue for August. Table games and slots generated $110.8m while retail sports betting recorded $1.7m. MGM Grand Detroit Casino accounted for 48 per cent of the market share, MotorCity Casino 28 per cent and Hollywood Casino at Greektown 24 per cent.
Revenue from table games and slots increased by 5.9 per cent when compared to the same month last year and 4.2 per cent higher when compared to the previous month. MGM reported $53.86m in gaming revenue, up 8.9 per cent from the same period last year, MotorCity registered $30.76m, up 0.1 per cent, and Hollywood Casino at Greektown posted $26.18m, up 7.4 per cent.
The three Detroit casinos paid $8.97m in gaming taxes to the State of Michigan. The casinos also reported submitting $17.3m in wagering taxes and development agreement payments to the City of Detroit.
The casinos reported a $9.61m retail sports betting handle and $1.7m in gross receipts. Retail sports betting qualified adjusted gross receipts (QAGR) were up by $1.4m when compared to August 2023 and up by $2.1m when compared to July 2024. MGM posted $521,529 in qualified adjusted gross receipts, MotorCity $930,952 and Hollywood Casino at Greektown $241,045. The casinos paid $64,015 in gaming taxes to the state and $78,241 in wagering taxes to the City of Detroit based on their retail sports betting revenue.
The Michigan Gaming Control Board (MGCB) unanimously approved the one-year renewal of licences for Detroit’s three commercial casinos. The board also passed a resolution to allow more small businesses to provide goods and services to the casinos.
