Detroit casinos see mixed results in September 2024
Table games and slots revenue increased 1.2% from September 2023 but fell 8.6% from August 2024.
Key Points
- Detroit casinos reported $101.98m in total revenue for September 2024, with table games and slots showing a slight year-over-year increase
- Retail sports betting saw significant declines in qualified adjusted gross receipts compared to both the previous year and month
- The casinos continue to be substantial contributors to state and local tax revenues
In September 2024, Detroit’s three casinos reported a combined monthly revenue of $101.98m. The majority of this revenue – $101.23m to be precise – came from table games and slots, while retail sports betting contributed $755,519.
MGM maintained its market dominance with a 47% share, followed by MotorCity at 31% and Hollywood Casino at Greektown with 22%.
Compared to September 2023, table games and slots revenue saw a modest 1.2% increase, although it decreased 8.6% when compared with the August 2024 report.
Individual casino performances varied. MGM experienced a 6.6% year-over-year increase to $47.68m and MotorCity saw a slight 0.5% uptick to $31.17m. Hollywood Casino at Greektown, however, faced a 7.8% decline, reporting $22.38m in revenue.
The casinos contributed significantly to state and local coffers, paying $8.2m in gaming taxes to Michigan and $12.5m in wagering taxes and development agreement payments to Detroit.
Retail sports betting presented a more challenging picture. While the total handle reached $22.02m, qualified adjusted gross receipts (QAGR) fell by 52% compared to September 2023 and 55.4% from August 2024.
MGM led in sports betting QAGR with $601,794, followed by Hollywood Casino at Greektown with $141,908, then MotorCity with $11,817.
The fantasy contest sector also contributed to the gambling landscape, with operators reporting $613,448 in total adjusted revenues for August 2024, resulting in $51,530 in taxes paid.
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