Detroit casinos
Michigan iGaming, Sports Betting Operators Report $205.3M in October Revenue, Bettors Wagered Record $533M
Michigan commercial and tribal operators reported a combined $205.3 million total internet gaming (iGaming) gross receipts and gross sports betting receipts in October. Gross receipts decreased 2.4% compared to September results.
October iGaming gross receipts totaled $160.3 million and gross sports betting receipts totaled $45 million. In September 2023, iGaming gross receipts were $166.4 million and gross sports betting receipts were $44 million.
Combined total iGaming and internet sports betting adjusted gross receipts (AGR) for October were $167.7 million, including $144.2 million from iGaming and $23.5 million from internet sports betting — representing an iGaming decrease of 3.7% and a 25.4% increase for sports betting when compared to September 2023. Compared to October 2022 reported revenues, iGaming AGR was up by 13.9% and sports betting was down by 26.1%.
Total internet sports betting handle at $533 million was up by 16.5% from the $457.7 million handle recorded in September 2023. This is the highest internet sports betting handle to date and the first time the total handle has exceeded $500 million.
The operators reported submitting $31.9 million in taxes and payments to the State of Michigan during October, including:
- Internet gaming taxes and fees: $30.1 million
- Internet sports betting taxes and fees: $1.8 million
The three Detroit casinos reported paying the City of Detroit $8.2 million in wagering taxes and municipal services fees during October, including:
- Internet gaming taxes and fees: $7.5 million
- Internet sports betting taxes and fees: $663,754
Tribal operators reported making $3.7 million in payments to governing bodies in October.
As of October, a total of 15 commercial and tribal operators have been authorized to launch iGaming and/or internet sports betting. Currently, 14 commercial and tribal operators offer internet sports betting, and 15 operators offer iGaming.
The three Detroit casinos reported $109.44 million in monthly aggregate revenue (AGR) for the month of April 2024, of which $107.87 million was generated from table games and slots, and $1.57 million from retail sports betting.
The April market shares were:
- MGM, 46%
- MotorCity, 30%
- Hollywood Casino at Greektown, 24%
Monthly Table Games, Slot Revenue, and Taxes
The casinos’ revenue for table games and slots for the month of April 2024 decreased 1.6% when compared to the same month last year. April’s monthly revenue was 11.8% lower when compared to the previous month, March 2024. From Jan. 1 through April 30, the Detroit casinos’ table games and slots revenue decreased by 1.6% compared to the same period last year.
The casinos’ monthly gaming revenue results were mixed compared to April of last year:
- MGM, down 0.7% to $49.86 million
- MotorCity, down 4.5% to $32.68 million
- Hollywood Casino at Greektown, up 0.6% to $25.33 million
In April 2024, the three Detroit casinos paid $8.74 million in gaming taxes to the State of Michigan. They paid $8.88 million for the same month last year. The casinos also reported submitting $12.8 million in wagering taxes and development agreement payments to the City of Detroit in April.
Monthly Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $15.28 million in total retail sports betting handle, and total gross receipts were $1.57 million for the month of April. Retail sports betting qualified adjusted gross receipts (QAGR) were up by $1.5 million in April when compared to the same month last year. Compared to March 2024, April QAGR was down by 1.7%.
April QAGR by casino was:
- MGM: $475,492
- MotorCity: $516,812
- Hollywood Casino at Greektown: $578,131
During April, the casinos paid $59,362 in gaming taxes to the state and reported submitting $72,554 in wagering taxes to the City of Detroit based on their retail sports betting revenue.
Fantasy Contests
For March 2024, fantasy contest operators reported total adjusted revenues of $494,162 and paid taxes of $41,510.
The three Detroit casinos reported $123.86 million in monthly aggregate revenue (AGR) for the month of March 2024, of which $122.26 million was generated from table games and slots, and $1.6 million from retail sports betting.
The March market shares were:
- MGM, 46%
- MotorCity, 31%
- Hollywood Casino at Greektown, 23%
Monthly Table Games, Slot Revenue, and Taxes
March 2024 table games and slot revenue increased 3.8% when compared to March 2023 revenue. March’s monthly revenue was 16.7% higher than February 2024. From Jan. 1 through March 31, the Detroit casinos’ table games and slots revenue decreased by 1.6% compared to the same period last year.
The casinos’ monthly gaming revenue results were mixed compared to March 2023:
- MGM, up 4.1% to $56.65 million
- MotorCity, up 7.2% to $38.35 million
- Hollywood Casino at Greektown, down 1.4% to $27.26 million
In March 2024, the three Detroit casinos paid $9.9 million in gaming taxes to the State of Michigan. They paid $9.5 million for the same month last year. The casinos also reported submitting $14.5 million in wagering taxes and development agreement payments to the City of Detroit in March.
Monthly Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $17.25 million in total retail sports betting handle, and total gross receipts were $1.61 million for the month of March. Retail sports betting qualified adjusted gross receipts (QAGR) in March were up by 13.2% when compared to the same month last year. Compared to February 2024, March QAGR was up by $1.7 million.
March QAGR by casino was:
- MGM: $327,857
- MotorCity: $538,988
- Hollywood Casino at Greektown: $731,389
During March, the casinos paid $60,413 in gaming taxes to the state and reported submitting $73,838 in wagering taxes to the City of Detroit based on their retail sports betting revenue.
Fantasy Contests
For February 2024, fantasy contest operators reported total adjusted revenues of $405,342 and paid taxes of $34,049.
The three Detroit casinos reported $94.4 million in monthly aggregate revenue (AGR) for the month of January 2024, of which $93.9 million was generated from table games and slots, and $500,221 from retail sports betting.
The January market shares were:
- MGM, 48%
- MotorCity, 30%
- Hollywood Casino at Greektown, 22%
Monthly Table Games, Slot Revenue, and Taxes
January 2024 table games and slot revenue decreased 9.1% when compared to January 2023 revenue. January’s monthly revenue was also 15.7% lower than December 2023. From Jan. 1 through Jan. 31, the Detroit casinos’ table games and slots revenue decreased by 9.1% compared to the same period last year.
The casinos’ monthly gaming revenue results were all lower compared to January 2023:
- MGM, down 11.3% to $44.6 million
- MotorCity, down by 10.4% to $27.1 million
- Hollywood Casino at Greektown, down by 2.9% to $22.2 million
In January 2024, the three Detroit casinos paid $7.6 million in gaming taxes to the State of Michigan. They paid $8.4 million for the same month last year. The casinos also reported submitting $11.2 million in wagering taxes and development agreement payments to the City of Detroit in January.
Monthly Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $24.2 million in total retail sports betting handle, and total gross receipts were $520,988 for the month of January. Retail sports betting qualified adjusted gross receipts (QAGR) in January were up by $389,197 when compared to the same month last year. Compared to December 2023, January QAGR was down by $4.3 million.
January QAGR by casino was:
- MGM: $403,926
- MotorCity: $1.1 million
- Hollywood Casino at Greektown: negative ($1.0 million)
During January, the casinos paid $58,073 in gaming taxes to the state, compared to $4197 for the same period last year, and reported submitting $70,978 in wagering taxes to the City of Detroit based on their retail sports betting revenue.
Fantasy Contests
For December 2023, fantasy contest operators reported total adjusted revenues of $484,140 and paid taxes of $40,668.
From Jan. 1 through Dec. 31, 2023, fantasy contest operators reported $21.8 million in aggregate fantasy contest adjusted revenues and paid $1.8 million in taxes.
-
Latest News3 weeks agoThe Importance of Data Quality Review Checks in the Gaming Industry
-
Asia3 weeks agoOnlyplay Enters into Strategic Partnership with Ritchie Rabbit
-
Africa4 weeks agoNE Group powers 888bets launch in Angola
-
Australia4 weeks ago
Tabcorp Partners with OpenBet’s Sportsbook Technology to Propel Growth and Enhance User Experience
-
Balkans4 weeks agoWazdan marks Croatian market entry with PSK partnership
-
Central Europe4 weeks agoApparat Gaming and edict egaming announce partnership
-
Africa4 weeks agoHub88 partners with LiveGames to enhance content offering
-
Brazil4 weeks agoKiron Interactive expands Brazilian presence with EstrelaBet partnership
