Detroit casinos revenue falls amid strike
Slots and table games revenue for October was down 18.9 per cent year-on-year.
US.- The three Detroit casinos reported $82.8m in monthly aggregate revenue (AGR) for October, down 19 per cent from September’s $101.6m amid ongoing strike action. From the total, $81.7m was generated from table games and slots and $1.1m from retail sports betting.
MGM Grand Detroit Casino accounted for 46 per cent of the market share, MotorCity Casino 31 per cent and Hollywood Casino at Greektown 23 per cent.
Table games and slot revenue decreased 18.9 per cent when compared to October 2022 and 18.3 per cent from September 2023. MGM’s revenue decreased 19.6 per cent year-on-year to $37.3m, MotorCity was down 22.8 per cent to $25m and Hollywood Casino at Greektown decreased 11.7 per cent to $19.4m.
The three Detroit casinos paid a combined $6.6m in gaming taxes to the State of Michigan. The casinos reported submitting $10.1m in wagering taxes and development agreement payments to the City of Detroit. From January 1 through September 30, the casinos’ table games and slots revenue decreased by 1.3 per cent compared to the same period in 2022. Workers are striking over pay.
The three casinos reported a $18.1m retail sports betting handle. Retail sports betting qualified adjusted gross receipts (QAGR) were down 46.3 per cent when compared to October 2022 and by 28.6 per cent compared to September 2023. MGM reported $365,705 in qualified adjusted gross receipts, MotorCity $669,028 and Hollywood Casino at Greektown $90,430. The casinos paid $42,531 in gaming taxes to the state and $51,982 in wagering taxes to the City of Detroit based on retail sports betting revenue.
