The three commercial casinos in Detroit—MGM Grand Detroit, MotorCity Casino, and Hollywood Casino at Greektown—recorded a remarkable $112.5 million in aggregate revenue for August 2024.
Strong Revenue from Table Games and Slots
The bulk of the revenue, totaling $110.8 million, was generated from table games and slots. This segment has shown notable growth, with a 5.9% increase compared to August 2023 and a 4.2% increase from July 2024. This upward trend underscores the resilience and popularity of traditional gaming offerings in Detroit’s casinos.
Market Share Dynamics
Among the three casinos, MGM Grand Detroit maintained a substantial market share, commanding 48%. The remaining share was divided between:
MotorCity Casino: 28%
Hollywood Casino at Greektown: 24%
This competitive landscape reflects a healthy market where each casino is striving to enhance its offerings and attract patrons.
Individual Casino Performance
Each casino demonstrated varying degrees of success in August, with all three reporting year-on-year revenue increases.
MGM Grand Detroit: Achieved $53.86 million in gaming revenue, marking an 8.9% increase from the same month last year. This strong performance solidifies MGM’s position as a market leader.
MotorCity Casino: Generated $30.76 million, a modest 0.1% increase year-on-year, indicating stable operations amid fierce competition.
Hollywood Casino at Greektown: Posted $26.18 million, a 7.4% increase, showcasing its ability to attract visitors and drive revenue.
Tax Contributions: Supporting Local Economy
The three casinos contributed significantly to both the State of Michigan and the City of Detroit in terms of tax revenue. Their contributions included:
$8.97 million in gaming taxes to the state.
$17.3 million in wagering taxes and development agreement payments to the city.
These tax revenues play a crucial role in funding local services and infrastructure projects, further emphasizing the casinos’ importance to the region’s economy.
Retail Sports Betting: Emerging Segment
While retail sports betting accounted for a smaller portion of overall revenue, it still made a noteworthy contribution of $1.7 million in gross receipts. The sports betting handle reached $9.61 million, reflecting growing interest among casino patrons.
Regulatory Developments: License Renewals and Support for Small Businesses
In August, the Michigan Gaming Control Board (MGCB) approved a one-year renewal of licenses for all three casinos. This unanimous decision ensures their continued operation and stability in the market.
Additionally, the MGCB passed a resolution aimed at increasing participation from small businesses in the gaming sector. This initiative seeks to enhance the local economy by allowing more small vendors to supply goods and services to the casinos, fostering community engagement and economic development.
August 2024 proved to be a successful month for Detroit’s casinos, with strong revenue growth in table games, slots, and retail sports betting. MGM Grand Detroit continues to lead the market, but MotorCity Casino and Hollywood Casino at Greektown have shown their competitiveness and ability to attract patrons.
The substantial tax contributions from the casinos further illustrate their vital role in supporting the local economy. The recent regulatory developments, including license renewals and initiatives to engage small businesses, signal a positive outlook for the gaming industry in Detroit.
As the market continues to expand and adapt, Detroit’s casino sector is well-positioned for sustained success in the future. The combination of healthy competition, growing revenues, and community-focused initiatives lays a solid foundation for ongoing growth in the region.