Detroit casinos
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.
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.
The three Detroit casinos reported $116.2 million in monthly aggregate revenue (AGR) for the month of December 2023, of which $111.4 million was generated from table games and slots, and $4.8 million from retail sports betting.
The December market shares were:
- MGM, 44%
- MotorCity, 32%
- Hollywood Casino at Greektown, 24%
Monthly Table Games, Slot Revenue, and Taxes
December 2023 table games and slot revenue increased 2.9% when compared to December 2022 revenue. December’s monthly revenue was also 46.6% higher than November 2023. From Jan. 1 through Dec. 31, the Detroit casinos’ table games and slots revenue decreased by 2.7% compared to the same period last year.
The casinos’ monthly gaming revenue results were mixed compared to December 2022:
- MGM, down 0.7% to $50.6 million
- MotorCity, up by 5.1% to $34.7 million
- Hollywood Casino at Greektown, up by 7.5% to $26.1 million
In December 2023, the three Detroit casinos paid $9.0 million in gaming taxes to the State of Michigan. They paid $8.8 million for the same month last year. The casinos also reported submitting $13.8 million in wagering taxes and development agreement payments to the City of Detroit in December.
Quarterly Table Games, Slot Revenue, and Taxes
For the fourth quarter of 2023 that ended Dec. 31, aggregate revenue was down for all three Detroit casinos by 12.9% compared to the same period last year. Quarterly gaming revenue for the casinos was:
- MGM: $118.6 million
- MotorCity: $84.4 million
- Hollywood Casino at Greektown: $66.2 million
Compared to the fourth quarter of 2022, MGM, MotorCity, and Hollywood Casino at Greektown were down by 17.7%, 11.6%, and 4.7%, respectively. The three casinos paid $21.8 million in gaming taxes to the state in the fourth quarter of 2023, compared to $25.0 million in the same quarter last year.
Monthly Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $30.4 million in total retail sports betting handle, and total gross receipts were $4.8 million for the month of December. Retail sports betting qualified adjusted gross receipts (QAGR) in December 2023 were up by $3.1 million when compared to December 2022. Compared to November 2023, December QAGR increased 54.9%.
December QAGR by casino was:
- MGM: $291,171
- MotorCity: $2.3 million
- Hollywood Casino at Greektown: $2.2 million
During December, the casinos paid $180,822 in gaming taxes to the state and reported submitting $221,005 in wagering taxes to the City of Detroit based on their retail sports betting revenue.
Annual Revenue for Table Games, Slots, and Retail Sports Betting
The total yearly aggregate revenue of $1.237 billion — a slight decrease of 3.1% compared to last year — by the three Detroit casinos for slots, table games, and retail sports betting was generated by:
- Slots: $984.1 million (80%)
- Table games: $238.7 million (19%)
- Retail sports betting: $14.0 million (1%)
The casinos’ market shares for the year were:
- MGM, 46%
- MotorCity, 31%
- Hollywood Casino at Greektown, 23%
Compared to 2022, slots and table games yearly gaming revenue for the three casinos were as follows:
- MGM, down by 6.0% to $564.0 million
- MotorCity, down by 5.8% to $373.6 million
- Hollywood Casino at Greektown, up by 9.5% to $285.2 million
Aggregate retail sports betting qualified adjusted gross receipts (QAGR) for 2023 was down by 25.7% to $14.0 million compared to last year, with MGM totaling $2.3 million, MotorCity totaling $5.0 million, and Hollywood Casino at Greektown totaling $6.7 million.
In 2023, the three Detroit casinos paid the state $99.0 million in wagering taxes for slots and table games, and $528,314 in wagering taxes for retail sports betting. In 2022, they had paid $101.8 million and $711,087 for each, respectively.
Fantasy Contests
For November, fantasy contest operators reported total adjusted revenues of $1.8 million and paid taxes of $149,915.
From Jan. 1 through Nov. 30, fantasy contest operators reported $21.3 million in aggregate fantasy contest adjusted revenues and paid $1.8 million in taxes.
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