In May 2024, Detroit’s three major casinos—MGM Grand Detroit, MotorCity Casino, and Hollywood Casino at Greektown—reported a combined revenue of $113.2 million. This figure underscores the robust performance of Detroit’s casino sector, highlighting a strong market presence despite fluctuations in specific revenue streams.
Revenue Breakdown and Performance
Out of the total revenue, $111.3 million came from table games and slot machines, while $1.9 million was generated through retail sports betting. This shows that traditional gaming still dominates the revenue landscape for Detroit casinos, though sports betting is steadily growing.
MGM Grand Detroit Casino
MGM Grand Detroit Casino maintained its leadership position in the market, capturing 46% of the market share. In May, the casino’s revenue reached $51.9 million, marking a 5.3% increase from the previous year. This growth reflects a strong performance in its gaming operations, further solidifying its role as a major player in Detroit’s casino market.
MotorCity Casino
MotorCity Casino followed with a 31% market share, generating $33.7 million in revenue. This represents a 4.9% increase compared to May 2023. MotorCity’s steady growth indicates a consistent customer base and effective marketing strategies.
Hollywood Casino at Greektown
Hollywood Casino at Greektown reported a 23% market share, with revenue totaling $25.7 million. This is a notable 10.3% increase from the previous year, signaling a robust performance in attracting and retaining patrons.
Year-to-Date Revenue Trends
Revenue from table games and slots saw a 6.3% increase compared to May 2023, and a 3.2% increase from April 2024. However, the cumulative revenue from January 1 through May 31, 2024, shows a slight decrease of 0.1% compared to the same period last year. This minor dip suggests that while the casinos are experiencing growth, it is not uniformly distributed throughout the year.
Tax Contributions
In terms of tax contributions, Detroit’s casinos have made significant payments to both the state and city. They contributed $9 million in gaming taxes to the State of Michigan. Additionally, they reported $13.2 million in wagering taxes and development agreement payments to the City of Detroit. These payments underscore the substantial economic impact of the casino industry on local and state economies.
Sports Betting Revenue
Retail sports betting has become an increasingly important revenue stream for Detroit’s casinos. In May 2024, the casinos reported a $11.1 million handle in retail sports betting, with total gross receipts amounting to $1.9 million. Notably, qualified adjusted gross receipts (QAGR) for sports betting increased by $965,019 compared to the previous year, reflecting an 18.4% growth from April 2024. This rise indicates a growing interest and engagement in sports betting among patrons.
New Developments: ESPN Bet at Hollywood Casino at Greektown
In a significant development, Hollywood Casino at Greektown has introduced its new ESPN Bet sportsbook, marking the first ESPN Bet-branded retail location at a Penn Entertainment property. This new facility spans approximately 4,500 square feet and features a comprehensive betting and dining experience, including 40 betting kiosks, 25 HDTVs, and a 30-foot video wall.
John Drake, General Manager of Hollywood Casino at Greektown, highlighted the significance of this launch: “This is an exciting week to debut Penn’s first physical ESPN Bet sportsbook as the city of Detroit hosts the NFL Draft and its festivities. Bringing ESPN Bet to Hollywood Greektown combines Penn’s premier sports media and sports betting offerings to create an amazing atmosphere for fans to watch and bet on sports.”
The revenue report for May 2024 illustrates a thriving casino industry in Detroit, marked by significant growth in traditional gaming and a promising increase in sports betting. The introduction of the ESPN Bet sportsbook further enhances the city’s position as a key player in the sports betting market. While overall revenue trends show minor year-to-date declines, the individual performance of each casino and the increasing popularity of sports betting offer a positive outlook for the sector.