Detroit casino revenue rises 3.6% in October
The state’s casino revenue grew 3.6 per cent when compared to September and 12.5 per cent year-on-year.
US.- Detroit’s three commercial casinos registered revenue of $114.1m in October, up 12.5 per cent year-on-year and up 3.6 per cent from September 2021 ($110.4m). However, retail sports betting’s contribution saw a decline.
The main growth at MGM Grand Detroit, MotorCity Casino and Penn National’s Greektown Casino Hotel was in slots and table games, which made up $111.5m of the total, an 18.9 per cent increase from the prior year, and up 4.2 per cent from the prior month.
The biggest increase in revenue compared to October 2020, was reported by MGM Grand, with its monthly revenue growing 39.4 per cent to $52.7m. MotorCity remained ahead of Greektown, with slot and table game revenue up 1.8 per cent to $36.9m. Greektown reported a 10.8 per cent increase to $21.9m.
The State of Michigan received $9m in gaming taxes from the three gaming venues. Last year, $7.6m went to the state coffers.
Sports betting performance wasn’t so strong. Qualified adjusted gross receipts were down 65.2 per cent to $2.6m, despite the fact that in October 2020 retail wagering was the only legal form of sports betting, with online betting going live in January 2021.
