Gambling in the USA
Detroit Casinos Report $90.8M in Revenue for January
Detroit’s three casinos, MGM Grand Detroit, MotorCity Casino, and Greektown Casino, have reported $90.84 million in monthly aggregate revenue in January, the first full month the venues were open since shuttering in November under state orders tied to the Covid-19 pandemic.
According to a report released by the Michigan Gaming Control Board, table games and slots collectively generated $86.78 million in revenue last month. Retail sports betting generated a total of $4.06 million in revenue. The report does not include revenue from online gaming and internet sports betting, which launched in Michigan in January. MGCB expects to release those figures next week.
Revenue from table games and slots fell 27.7% compared to the same month in 2020, but monthly revenue rose 293.5% compared to December when casinos were closed for almost the entire month. The Detroit casinos, which closed on November 18, were allowed to reopen from December 23 with a limit of 20 people per 1000 square feet.
For 2020 overall, total adjusted revenue from the Detroit casinos was down more than 57% from 2019, to about $620.4 million, according to MGCB. In 2019, revenues totaled nearly $1.5 billion.
Wagering taxes paid to the city were down nearly 60%, from more than $184 million in 2019 to just over $73.8 million in 2020.
In January, gaming revenue at MGM dropped 32% to $34 million, year-over-year. MotorCity’s revenue fell 20.7% to $33.2 million. Greektown’s revenue declined 30.4% to $19.6 million.
The three casinos paid $7 million in gaming taxes to the state last month, down from $9.7 million in January 2020. They submitted $10.3 million in wagering taxes and development agreement payments to the city.
Gambling in the USA
Andrew Cardno to Deliver Keynote at November Gaming Conference in Phoenix: “How are Technology Advancements Impacting Decision Making and Driving Innovation in Gaming?”
The gaming industry continues to evolve with the rapid integration of advanced technologies, offering new pathways for innovation and decision-making. Andrew Cardno, Chief Technology Officer of Quick Custom Intelligence (QCI), will deliver a keynote address titled “How are Technology Advancements Impacting Decision Making and Driving Innovation in Gaming?” at this year’s premier gaming conference, taking place on November 12th and 13th in Phoenix, Arizona.
Cardno, a leading expert with over two decades of experience in gaming and technology, will explore how advancements such as artificial intelligence, machine learning, and data-driven solutions are reshaping decision-making processes within the gaming industry. His address will provide actionable insights for professionals seeking to stay ahead in this fast-paced environment.
“Technology is no longer just an enabler; it’s the driving force behind innovation in gaming,” said Andrew Cardno. “At this year’s conference, I will delve into how these advancements can empower industry leaders to make better, faster decisions and capitalize on new opportunities for growth.”
Mark Pace, President of the International Gaming Standards Association (IGSA), praised Cardno’s expertise: “Andrew Cardno has a deep understanding of how technology is transforming the gaming industry. His ability to translate complex innovations into practical, strategic insights makes him the ideal keynote speaker. His work continues to inspire and guide decision-makers across the gaming world.”
The conference, held in Phoenix on November 12th and 13th, promises to be a hub of cutting-edge discussions and networking opportunities, bringing together top leaders to explore the future of gaming.
Gambling in the USA
New Jersey Division of Gaming Enforcement Announces September 2024 Total Gaming Revenue Results
New Jersey Division of Gaming Enforcement announced the September 2024 total gaming revenue results.
Casino Win:
Based upon filings with the Division of Gaming Enforcement, Casino Win for the nine casino hotel properties was $230.6 million for September 2024, reflecting a decrease of 6.5% when compared to $246.5 million reported in September 2023. Year-to-date Casino Win for the nine casino hotel properties was $2.15 billion, which is a decrease of 0.9% compared to the year-to-date Casino Win for September 2023.
Internet Gaming Win:
For the month of September 2024, Internet Gaming Win reported by casinos and their partners was $208.1 million, reflecting growth of 27.1% when compared to $163.8 million reported in September 2023. For the year-to-date period, Internet Gaming Win reported by casinos and their partners was $1.73 billion, reflecting growth of 23.2% when compared to $1.41 billion for the prior year-to-date period.
Sports Wagering Gross Revenue:
Sports Wagering Gross Revenue reported by casinos, racetracks, and their partners was $119.6 million for September 2024, reflecting a 7.6% increase when compared to $111.1 million reported in September 2023. Sports Wagering Gross Revenue reported by casinos, racetracks, and their partners was $835.4 million for the year-to-date period, reflecting a 17.8% increase when compared to $709.0 million reported in the prior year-to-date period.
Total Gaming Revenue:
Total Gaming Revenue reported by casinos, racetracks, and their partners was $558.3 million for September 2024, reflecting a 7.1% increase from $521.5 million reported in September 2023. For year-todate, Total Gaming Revenue reported by casinos, racetracks, and their partners was $4.72 billion, reflecting a 10.1% increase from $4.29 billion reported in the prior year-to-date period.
Gambling in the USA
Detroit Casinos Report $101.98M in September Revenue
The three Detroit casinos reported $101.98 million in monthly aggregate revenue (AGR) for the month of September 2024, of which $101.23 million was generated from table games and slots, and $755,519 from retail sports betting.
The September market shares were:
• MGM, 47%
• MotorCity, 31%
• Hollywood Casino at Greektown, 22%
Monthly Table Games, Slot Revenue, and Taxes
The casinos’ revenue for table games and slots for the month of September 2024 increased 1.2% when compared to the same month last year. September’s monthly revenue was 8.6% lower when compared to the previous month, August 2024. From Jan. 1 through Sept. 30, the Detroit casinos’ table games and slots revenue increased by 1.0% compared to the same period last year.
The casinos’ monthly gaming revenue results were mixed compared to September 2023:
• MGM, up 6.6% to $47.68 million
• MotorCity, up 0.5% to $31.17 million
• Hollywood Casino at Greektown, down 7.8% to $22.38 million
In September 2024, the three Detroit casinos paid $8.2 million in gaming taxes to the State of Michigan. They paid $8.1 million for the same month last year. The casinos also reported submitting $12.5 million in wagering taxes and development agreement payments to the City of Detroit in September.
Monthly Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $22.02 million in total retail sports betting handle, and total gross receipts were $771,751 for the month of September. Retail sports betting qualified adjusted gross receipts (QAGR) were down by 52.0% in September when compared to September 2023, and down by 55.4% when compared to August 2024.
September QAGR by casino was:
• MGM: $601,794
• MotorCity: $11,817
• Hollywood Casino at Greektown: $141,908
During September, the casinos paid $28,559 in gaming taxes to the state and reported submitting $34,905 in wagering taxes to the City of Detroit based on their retail sports betting revenue.
Fantasy Contests
For August 2024, fantasy contest operators reported total adjusted revenues of $613,448 and paid taxes of $51,530.
-
Interviews7 days ago
Axel Antillon: Our Peru entry is a major milestone for WA.Technology
-
Compliance Updates6 days ago
GiG grows regulated market footprint with new B2B supplier authorisation for Peru
-
Latest News5 days ago
Harrah’s Cherokee Valley River’s New Hotel Tower Nears Completion
-
Latest News6 days ago
Patrick Homm to Lead Scientific Games International Lottery Systems Technology
-
Latest News6 days ago
Lottery Courier Jackpot.com Launches Digital “Scratchers”
-
Latest News2 days ago
Los Angeles Rams launch Next Gen Stats-powered, in-stadium highlights through new collaboration with Genius Sports
-
Latest News6 days ago
DiffusionData Appoints Raphael Vergnaud as CRO
-
Press Releases6 days ago
Spintec Introduces a Host of New Products at G2E