Key points:
- Retail sports betting at Detroit’s casinos reported a $0.8m loss
- All revenue last month came from slots and table games
The Michigan Gaming Control Board has released its Detroit casino revenue results for the month of October. All three locations reported $102.9m in combined revenue last month.
However, table games and slot revenue from the city’s three casinos brought in more than $103.7m in revenue, while retail sports betting from the city’s casinos reported a loss of more than $0.8m.
Last month’s report showed that revenue from both slots and table games was up 26.9% year-over-year.
October revenue rose by 2.6% when compared to figures from September.
MGM once again held the top spot for the month, accounting for 48% of the month’s market share. MotorCity and Hollywood Casino at Greektown followed close behind, holding 30% and 22% of the month's market share respectively.
Good to know: Last month, all three Detroit destinations reported a rise in monthly gaming revenue
MGM reported a 32.4% rise in October revenue when compared to September’s results. Total revenue climbed to $49.4m for the month.
MotorCity total October revenue reached nearly $31.7m and grew by 26.7%.
Hollywood Casino at Greektown posted almost $22.6m in revenue last month, up by 16.5% month-over-month.
Detroit’s casinos paid the state nearly $8.4m in gaming taxes during October and contributed an additional $12.8m in wagering taxes and development agreement payments to the city.
When it came to retail sports betting last month, the city’s three casinos brought in a total handle of almost $22.2m, while gross receipts totaled a loss of more than $0.8m.
Qualified adjusted gross receipts (QAGR) for the month fell by $2m year-over-year.
Hollywood Casino at Greektown grabbed the top spot for sports betting activity for the month, reporting a QAGR of $175,905.
