In April, Detroit’s three casinos collectively reported total monthly revenue of $109.7 million, revealing a slight decrease of 6.9% compared to the previous month. The Michigan Gaming Control Board provided insights into this data, indicating that the combined revenue was derived from table games, slots, and retail sports betting, contributing $109.6 million and $120,350, respectively.
Market Share Breakdown:
Breaking down the market share, MGM Grand Detroit Casino accounted for the largest portion with 46%, while MotorCity Casino and Hollywood Casino at Greektown held 30% and 24% of the market share, respectively. In terms of revenue, table games and slots experienced a 6.2% decrease compared to April 2022.
Hollywood Casino at Greektown exhibited positive year-on-year growth with a 6.3% gain, achieving $25.2 million in monthly gaming revenue. Meanwhile, MGM’s revenue declined by 11.5% to $50.2 million, and Motor City’s figures dipped by 6.1% to reach $34.2 million.
Contributions to State and City Revenue:
For the month of April, the three casinos paid a total of $13 million in gaming taxes to the State of Michigan, reflecting an increase from the $9.5 million paid during the same month the previous year. These casinos also reported a contribution of $13 million in wagering taxes and development agreement payments to the City of Detroit.
Sports Betting Handle and Revenue:
The Detroit casinos reported a sports betting handle amounting to $15.3 million. However, the total gross receipts were negative, standing at ($14,489). This unusual result was primarily due to a patron winning $2.6 million at MotorCity Casino by placing successful parlay wagers. Retail sports betting’s qualified adjusted gross receipts (QAGR) experienced a notable year-on-year decrease of 93.6% and a 91.5% reduction when compared to March.
Consequently, casinos paid $69,237 in taxes to the state and an additional $84,624 in taxes to the City of Detroit based on the revenue generated from retail sports betting.
Despite a minor dip in monthly revenue, Detroit’s casinos continue to make significant contributions to both the state and city’s coffers. The gaming landscape, with a particular focus on sports betting, remains dynamic and subject to occasional noteworthy fluctuations.