Detroit Casinos Report $105.6M in May Revenue
The three Detroit casinos reported $105.6 million in monthly aggregate revenue for the month of May 2023. Table games and slots generated $104.7 million in revenue while retail sports betting produced revenue of $893,732.
The May market shares were:
- MGM, 47%
- MotorCity, 31%
- Hollywood Casino at Greektown, 22%
Table Games and Slot Revenue and Taxes
May table games and slot revenue decreased 1.4% when compared to May 2022 results. May monthly revenue dropped 4.5% compared to April revenue. Through May 31, the casinos’ table games and slots revenue increased by 0.4% compared to the same period last year.
The casinos’ monthly gaming revenue results were mixed compared to May 2022:
- Hollywood Casino at Greektown, up 7.4% to $23.3 million
- MGM, down 1.4% to $49.3 million
- MotorCity, down 7.1% to $32.1 million
During May, the three Detroit casinos paid $8.5 million in taxes to the State of Michigan. They paid $8.6 million for the same month last year.
The casinos reported submitting $12.5 million in wagering taxes and development agreement payments to the City of Detroit in May.
Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $16,936,055 in total retail sports betting handle, and total gross receipts were $921,268.
Retail sports betting qualified adjusted gross receipts (QAGR) were up by $773,382 compared to April 2023. May QAGR fell by 62.6% compared to the same month last year.
May QAGR by casino was:
- MGM, $470,510
- MotorCity, $395,677
- Hollywood Casino at Greektown, $27,545
During May, the casinos paid $33,783 in taxes to the state and reported submitting $41,290 in taxes to the City of Detroit based on retail sports betting revenue.
Fantasy Contests
For May, fantasy contest operators reported total adjusted revenues of $2.1 million and paid taxes of $175,204.
From January 1 through April 30, fantasy contest operators reported $8.9 million in aggregate fantasy contest adjusted revenues and paid $747,830 in taxes.
