Detroit’s three casinos all report revenue declines for Q2
The casinos’ table and slot games fell by 8.4% collectively.
Three Detroit casinos have reported $107.2m in monthly aggregate revenue for July, with table and slots games generating $105.9m and sports betting making up the remaining $1.3m.
Detroit’s big casinos are MGM Grand Detroit, MotorCity Casino Hotel and the Hollywood Casino at Greektown. MGM Resorts took a lion’s share of the market share with a 48% bite, followed by MotorCity at 33% and Hollywood trailing with 19%.
The casino’s table and slots games fell by 8.4% year-on-year, despite a monthly rise of 7.9% from June. H1 for Detroit’s casino’s results looked more promising, as table games and slots rose 3% compared with the first seven months of 2021.
However, July was still not a good year for Detroit gambling as revenue declined year-on-year for all three casinos. MGM Resorts fell 4.7% to $51.2m, MotorCity down 9.6% to $34.8m and Hollywood Casino took the hardest hit, dropping by 15% to $19.9m.
In terms of knock-on effects, the casinos collectively submitted $8.6m in wagering taxes, which was down from the $9.4m paid in July 2021. During July, the three Detroit casinos submitted $12.6m in combined wagering taxes and development agreement payments to Detroit city.
In the less lucrative area of sports betting, qualified adjusted gross receipts (QAGR) rose 3.6% to $1.3m. QAGR was up $809,532 from June results of $448,703, while the Detroit casinos reported a total retail sports betting handle of $18.8m and total gross receipts of $1.3m.
This slight uptick in sports betting earnings could not make up for the unimpressive total revenue produced by Detroit’s big three casinos.
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