Operator News
US – Detroit casinos generate $103.4m monthly revenue in September
By Phil - 14 October 2022
The three Detroit casinos – MGM Grand Detroit Casino, MotorCity Casino, and Hollywood Casino at Greektown – reported $103.4m in monthly aggregate revenue in September. Table games and slots generated $100.8m in revenue while retail sports betting produced $2.6 million in revenue.
September market shares were MGM 48 per cent, MotorCity 31 per cent and Hollywood Casino at Greektown 21% per cent.
The casinos’ table games and slots revenue fell 5.7 per cent compared with September 2021 results. Revenue also was down 3.5 per cent from August results. Year-to-date through Sept. 30, table games and slots revenue increased a fractional 0.8 per cent from results for the same nine-month period last year.
Compared with September 2021 results, monthly table games and slots revenue by property was MGM up a fractional 0.01 per cent to $48.4m, MotorCity down 14.2 per cent to $31.3m, Hollywood Casino at Greektown down 4.3 per cent to $21.1m During September, the three Detroit casinos paid $8.2m in gaming taxes to the State of Michigan compared with $8.7m for the same period last year.
The three Detroit casinos reported submitting $12.5m in wagering taxes and development agreement payments to the City of Detroit during September.
The three Detroit casinos reported a seven per cent decline in aggregate revenue for the third quarter compared with the same period last year. Quarterly gaming revenue by property fell across the board compared with the third quarter of 2021. MGM was down 2.9 per cent to $150m. MotorCity down 11.7 per cent to $98.5m Hollywood Casino at Greektown down 8.8 per cent to $62.8m.
The three Detroit casinos paid $25.2m in gaming taxes to the state during the third quarter compared with $27.1m received during the same period last year.
Retail sports betting qualified adjusted gross receipts (QAGR) declined 24.9 per cent during September compared with September 2021 results of $3.5m. QAGR was up 56.3 per cent when compared with August’s QAGR of $1.7m.
The three Detroit casinos reported total retail sports betting handle of $18,580,437. Total gross receipts were $2,632,507 for the three retail sportsbook locations.
Retail sports betting gaming taxes paid to the State of Michigan were $98,257 compared with $130,885 paid in September 2021.
The three Detroit casinos reported submitting $120,091 to the City of Detroit in retail sports betting taxes during September.
