Detroit casinos report $98.6m in monthly revenue for June
The combined revenue of MGM Grand Detroit Casino, MotorCity and Greektown was down 8.8 per cent year-on-year.
US.- Detroit’s three casinos reported $98.6m in monthly aggregate revenue for June. According to the Michigan Gaming Control Board, table games and slots generated $98.2m and retail sports betting $448,703.
Revenue from the MGM Grand Detroit, MotorCity Casino and Penn National’s Hollywood Casino at Greektown was down from 8.8 per cent from $108.1m in June 2021 and down 9.3 per cent from $108.7m in May of this year. However, table games and slots revenue is up 5.2 per cent for the first six months of the year.
MGM Grand Detroit accounted for 49 per cent of the market share, MotorCity Casino 34 per cent and Hollywood Casino at Greektown 17 per cent. MGM’s revenue rose 4.3 per cent to $48.3m, but MotorCity Casino was down 9.8 per cent to $33.5m and Hollywood Casino at Greektown down 26.6 per cent to $16.3m.
The three Detroit casinos paid $8m in taxes to the state of Michigan in June, compared with $8.6m for the same month last year. The casinos reported submitting $11.7m in wagering taxes and development agreement payments to the City of Detroit.
Retail sports betting qualified adjusted gross receipts (QAGR) were $448,703 in June, falling 80.5 per cent compared with June 2021 ($2.3m). QAGR was down 81.2 per cent from the $2.4m reported in May. The Detroit casinos reported a retail sports betting handle of $2.4m. Total gross receipts were $462,215.
Year-to-date retail sports betting QAGR by casino was: MGM, $1.5m; MotorCity, $2.1m; Hollywood Casino at Greektown, $4.1m.
The MGCB reported that second quarter aggregate revenue rose a fractional 0.04 per cent for the three Detroit casinos compared with second quarter 2021 results. Gaming revenue by casino was: MGM, $155.1m, up 14.3 per cent; MotorCity, $104.5m, down 9.3 per cent; Hollywood Casino at Greektown, $61.7m, down 12.1 per cent.
The three Detroit casinos paid $26m in second quarter gaming taxes compared with $26.02m in the second quarter last year.
See also: Michigan legislature increases funding for Gaming Control Board
