In May, Detroit’s three casinos reported a total revenue of $105.6 million, according to the Michigan Gaming Control Board. This revenue was primarily driven by table games, slots, and retail sports betting, with MGM Grand Detroit Casino, MotorCity Casino, and Hollywood Casino at Greektown contributing to the city’s gaming sector.
Breakdown of May Revenue:
Table games and slots accounted for $104.7 million of the total monthly revenue.
Retail sports betting added $893,732 to the overall figure.
Year-Over-Year and Monthly Comparisons:
May table games and slot revenue saw a slight decrease of 1.4% when compared to the same period in 2022.
However, revenue was down by 4.5% when compared to April 2023.
On a positive note, there was a 0.4% increase in revenue when compared to May of the previous year.
Market Share Distribution:
MGM Grand Detroit Casino held the largest market share, accounting for 47% of the total revenue.
MotorCity Casino followed with 31% of the market share.
Hollywood Casino at Greektown contributed 22% of the revenue, reporting a 7.4% gain year-on-year.
Tax Contributions:
Collectively, the three Detroit casinos paid $8.5 million in taxes to the state of Michigan, a slight decrease from May the previous year ($8.6 million).
Additionally, they submitted $12.5 million in wagering taxes and development agreement payments to the City of Detroit.
Retail Sports Betting:
The three Detroit casinos reported $16.9 million in retail sports bets and gross receipts of $921,268 in May.
While retail sports betting adjusted gross receipts (QAGR) increased by $773,382 compared to April 2023, they were down by 62.6% compared to May the previous year.
The casinos contributed $33,783 in sports betting taxes to the state and $41,290 to the City of Detroit.
The May revenue report for Detroit’s casinos reflects the city’s dynamic gaming industry. Despite some fluctuations in revenue, the casinos continue to play a crucial role in contributing to the state and city’s finances. The ongoing performance of these casinos, coupled with the growth in retail sports betting, demonstrates the vitality of Detroit’s gaming sector.