Detroit’s three casinos post $79.1m in November revenue, down 23.9%

The Michigan Gaming Control Board has published the November results for the state’s three Detroit casinos. During November, all three venues reported a combined revenue total of $79.1m.

MGM emerged as the leader for the month, with 39% of November’s market share. MotorCity and Hollywood Casino at Greektown followed closely behind, with 34% and 27% respectively.

Table games and slot revenue from the city’s three casinos accounted for $76m of the total for the month. The remaining $3.1m in revenue came from retail sports betting.

However, overall activity for the month reflected significant declines when compared to results from one year ago. Table games and slot revenue fell 23.9% year-over-year.

Last month’s casino revenue dropped 7% when compared to October’s numbers. Decreases in revenue per casino were significant as well. MGM’s November revenue fell by 34.4%, while MotorCity and Hollywood Casino at Greektown reported decreases of 17.8% and 10.8% respectively.

During the month of November, Detroit’s casinos paid the state $6.2m in gaming taxes and contributed an additional $9.4m in wagering taxes and development agreement payments to the city.

Concerning retail sports betting, the city’s three casinos brough in a total handle of $15.3m during the month of November, with $3.1m in total gross receipts.

In contrast to casino activity and revenue results, retail sports betting across Detroit’s casinos experienced a boost during November. Qualified adjusted gross receipts (QAGR) for the month rose by $1.2m year-over-year.

All three casinos reported a rise in November QAGR of $2m when compared to October’s results.

MotorCity grabbed top spot for sports betting activity for the month, reporting a QAGR of $2.2m.

Carlos Mendez

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