Detroit Casinos Report $101.6M in September Revenue

The three Detroit casinos reported $101.6 million in monthly aggregate revenue for the month of September 2023, of which $100 million was generated from table games and slots, and $1.6 million from retail sports betting.

The September market shares were:

·        MGM, 44%

·        MotorCity, 31%

·        Hollywood Casino at Greektown, 25%

Table Games and Slot Revenue and Taxes

September 2023 table games and slot revenue decreased 0.8% when compared to September 2022 results. September monthly revenue was 4.4% lower than August 2023. From January 1 through Sept. 30, the Detroit casinos’ table games and slots revenue increased by 0.6% compared to the same period last year.

The casinos’ monthly gaming revenue results were mixed compared to September 2022:

·        Hollywood Casino at Greektown, up 15.1% to $24.3 million

·        MGM, down 7.6% to $44.7 million

·        MotorCity, down 1.1% to $31 million

During September, the three Detroit casinos paid $8.1 million in gaming taxes to the State of Michigan. They paid $8.2 million for the same month last year.

The casinos reported submitting $12.3 million in wagering taxes and development agreement payments to the City of Detroit in September.

Retail Sports Betting Revenue and Taxes

The three Detroit casinos reported $18.1 million in total retail sports betting handle, and total gross receipts were $1.6 million.

Retail sports betting qualified adjusted gross receipts (QAGR) were down by 39.4% compared to September 2022. September QAGR was up by $1.3 million compared to August 2023.

September QAGR by casino was:

·        MGM: $43,528

·        MotorCity: $875,616

·        Hollywood Casino at Greektown: $655,816

During September, the casinos paid $59,533 in gaming taxes to the state and reported submitting $72,763 in wagering taxes to the City of Detroit based on retail sports betting revenue.

Fantasy Contests

For August, fantasy contest operators reported total adjusted revenues of $1.3 million and paid taxes of $110,903.

From January 1 through Aug. 31, fantasy contest operators reported $14.7 million in aggregate fantasy contest adjusted revenues and paid $1.2 million in taxes.