Detroit casinos
Detroit Casinos Report $82.8M in October Revenue
The three Detroit casinos reported $82.8 million in monthly aggregate revenue (AGR) for the month of October 2023, of which $81.7 million was generated from table games and slots, and $1.1 million from retail sports betting.
The October market shares were:
- MGM, 46%
- MotorCity, 31%
- Hollywood Casino at Greektown, 23%
Table Games and Slot Revenue and Taxes
October 2023 table games and slot revenue decreased 18.9% when compared to October 2022 results. October monthly revenue was 18.3% lower than September 2023. From January 1 through Sept. 30, the Detroit casinos’ table games and slots revenue decreased by 1.3% compared to the same period last year.
The casinos’ monthly gaming revenue results all decreased compared to October 2022:
- MGM, down 19.6% to $37.3 million
- MotorCity, down 22.8% to $25 million
- Hollywood Casino at Greektown, down 11.7% to $19.4 million
During October, the three Detroit casinos paid $6.6 million in gaming taxes to the State of Michigan. They paid $8.2 million for the same month last year.
The casinos reported submitting $10.1 million in wagering taxes and development agreement payments to the City of Detroit in October.
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 $1.1 million for the month of October.
Retail sports betting qualified adjusted gross receipts (QAGR) were down 46.3% when compared to October 2022. October QAGR was down by 28.6% compared to September 2023.
October QAGR by casino was:
- MGM: $365,705
- MotorCity: $669,028
- Hollywood Casino at Greektown: $90,430
During October, the casinos paid $42,531 in gaming taxes to the state and reported submitting $51,982 in wagering taxes to the City of Detroit based on retail sports betting revenue.
Fantasy Contests
For September, fantasy contest operators reported total adjusted revenues of $2.1 million and paid taxes of $178,346.
From Jan. 1 through Sept. 30, fantasy contest operators reported $16.8 million in aggregate fantasy contest adjusted revenues and paid $1.4 million in taxes.
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 $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 $104.9 million in monthly aggregate revenue for the month of August 2023, of which $104.6 million was generated from table games and slots, and $322,186 from retail sports betting.
The August market shares were:
- MGM, 47%
- MotorCity, 30%
- Hollywood Casino at Greektown, 23%
Table Games and Slot Revenue and Taxes
August table games and slot revenue decreased 2.0% when compared to July 2023 results. August monthly revenue was 0.1% higher than August 2022. From January 1 through August 31, the casinos’ table games and slots revenue increased by 0.8% compared to the same period last year.
The casinos’ monthly gaming revenue results were mixed compared to August 2022:
- Hollywood Casino at Greektown, up 11.7% to $24.4 million
- MGM, down 1.7% to $49.5 million
- MotorCity, down 5.0% to $30.7 million
During August, the three Detroit casinos paid $8.47 million in taxes to the State of Michigan. They paid $8.46 million for the same month last year.
The casinos reported submitting $16.5 million in wagering taxes and development agreement payments to the City of Detroit in August.
Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $10.0 million in total retail sports betting handle, and total gross receipts were $327,291.
Retail sports betting qualified adjusted gross receipts (QAGR) were down by 80.6% compared to August 2022. August QAGR was down by 32.5% compared to July 2023.
August QAGR by casino was:
- MGM: $85,644
- MotorCity: $195,955
- Hollywood Casino at Greektown: $40,587
During August, the casinos paid $12,179 in gaming taxes to the state and reported submitting $14,885 in wagering taxes to the City of Detroit based on retail sports betting revenue.
Fantasy Contests
For July, fantasy contest operators reported total adjusted revenues of $1.2 million and paid taxes of $101,324.
From January 1 through July 31, fantasy contest operators reported $13.4 million in aggregate fantasy contest adjusted revenues and paid $1.1 million in taxes.
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