Detroit Casinos Report $101.6M in September Revenue
The three Detroit casinos reported $101.6 million in monthly aggregate revenue for the month of September 2023, of which $100 million was generated from table games and slots, and $1.6 million from retail sports betting.
The September market shares were:
·       MGM, 44%
·       MotorCity, 31%
·       Hollywood Casino at Greektown, 25%
Table Games and Slot Revenue and Taxes
September 2023 table games and slot revenue decreased 0.8% when compared to September 2022 results. September monthly revenue was 4.4% lower than August 2023. From January 1 through Sept. 30, the Detroit casinos’ table games and slots revenue increased by 0.6% compared to the same period last year.
The casinos’ monthly gaming revenue results were mixed compared to September 2022:
·       Hollywood Casino at Greektown, up 15.1% to $24.3 million
·       MGM, down 7.6% to $44.7 million
·       MotorCity, down 1.1% to $31 million
During September, the three Detroit casinos paid $8.1 million in gaming taxes to the State of Michigan. They paid $8.2 million for the same month last year.
The casinos reported submitting $12.3 million in wagering taxes and development agreement payments to the City of Detroit in September.
Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $18.1 million in total retail sports betting handle, and total gross receipts were $1.6 million.
Retail sports betting qualified adjusted gross receipts (QAGR) were down by 39.4% compared to September 2022. September QAGR was up by $1.3 million compared to August 2023.
September QAGR by casino was:
·       MGM: $43,528
·       MotorCity: $875,616
·       Hollywood Casino at Greektown: $655,816
During September, the casinos paid $59,533 in gaming taxes to the state and reported submitting $72,763 in wagering taxes to the City of Detroit based on retail sports betting revenue.
Fantasy Contests
For August, fantasy contest operators reported total adjusted revenues of $1.3 million and paid taxes of $110,903.
From January 1 through Aug. 31, fantasy contest operators reported $14.7 million in aggregate fantasy contest adjusted revenues and paid $1.2 million in taxes.
