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MGCB: Detroit casinos report $116.2M in December revenue, $1.237B for year

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MGCB: Detroit casinos report $116.2M in December revenue, $1.237B for year

 

The three Detroit casinos reported $116.2 million in monthly aggregate revenue (AGR) for the month of December 2023, of which $111.4 million was generated from table games and slots, and $4.8 million from retail sports betting.

The December market shares were:

  • MGM, 44%
  • MotorCity, 32%
  • Hollywood Casino at Greektown, 24%

Monthly Table Games, Slot Revenue, and Taxes
December 2023 table games and slot revenue increased 2.9% when compared to December 2022 revenue. December’s monthly revenue was also 46.6% higher than November 2023. From Jan. 1 through Dec. 31, the Detroit casinos’ table games and slots revenue decreased by 2.7% compared to the same period last year.

The casinos’ monthly gaming revenue results were mixed compared to December 2022:

  • MGM, down 0.7% to $50.6 million
  • MotorCity, up by 5.1% to $34.7 million
  • Hollywood Casino at Greektown, up by 7.5% to $26.1 million

In December 2023, the three Detroit casinos paid $9.0 million in gaming taxes to the State of Michigan. They paid $8.8 million for the same month last year. The casinos also reported submitting $13.8 million in wagering taxes and development agreement payments to the City of Detroit in December.

Quarterly Table Games, Slot Revenue, and Taxes
For the fourth quarter of 2023 that ended Dec. 31, aggregate revenue was down for all three Detroit casinos by 12.9% compared to the same period last year. Quarterly gaming revenue for the casinos was:

  • MGM: $118.6 million
  • MotorCity: $84.4 million
  • Hollywood Casino at Greektown: $66.2 million

Compared to the fourth quarter of 2022, MGM, MotorCity, and Hollywood Casino at Greektown were down by 17.7%, 11.6%, and 4.7%, respectively. The three casinos paid $21.8 million in gaming taxes to the state in the fourth quarter of 2023, compared to $25.0 million in the same quarter last year.

Monthly Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $30.4 million in total retail sports betting handle, and total gross receipts were $4.8 million for the month of December. Retail sports betting qualified adjusted gross receipts (QAGR) in December 2023 were up by $3.1 million when compared to December 2022. Compared to November 2023, December QAGR increased 54.9%.

December QAGR by casino was:

  • MGM: $291,171
  • MotorCity: $2.3 million
  • Hollywood Casino at Greektown: $2.2 million

During December, the casinos paid $180,822 in gaming taxes to the state and reported submitting $221,005 in wagering taxes to the City of Detroit based on their retail sports betting revenue.

Annual Revenue for Table Games, Slots, and Retail Sports Betting
The total yearly aggregate revenue of $1.237 billion — a slight decrease of 3.1% compared to last year — by the three Detroit casinos for slots, table games, and retail sports betting was generated by:

  • Slots: $984.1 million (80%)
  • Table games: $238.7 million (19%)
  • Retail sports betting: $14.0 million (1%)

The casinos’ market shares for the year were:

  • MGM, 46%
  • MotorCity, 31%
  • Hollywood Casino at Greektown, 23%

Compared to 2022, slots and table games yearly gaming revenue for the three casinos were as follows:

  • MGM, down by 6.0% to $564.0 million
  • MotorCity, down by 5.8% to $373.6 million
  • Hollywood Casino at Greektown, up by 9.5% to $285.2 million

Aggregate retail sports betting qualified adjusted gross receipts (QAGR) for 2023 was down by 25.7% to $14.0 million compared to last year, with MGM totaling $2.3 million, MotorCity totaling $5.0 million, and Hollywood Casino at Greektown totaling $6.7 million.

In 2023, the three Detroit casinos paid the state $99.0 million in wagering taxes for slots and table games, and $528,314 in wagering taxes for retail sports betting. In 2022, they had paid $101.8 million and $711,087 for each, respectively.

Fantasy Contests
For November, fantasy contest operators reported total adjusted revenues of $1.8 million and paid taxes of $149,915.

From Jan. 1 through Nov. 30, fantasy contest operators reported $21.3 million in aggregate fantasy contest adjusted revenues and paid $1.8 million in taxes.

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Leading Peruvian iGaming Operator La Tinka, Selects Optimove as CRM Marketing Solution to Accelerate Growth through Personalized Journey Orchestration

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La Tinka to leverage Optimove’s #1 CRM Marketing solution for iGaming to increase player loyalty and retention through personalized and relevant marketing campaigns.

La Tinka, the leading Peruvian iGaming operator, has chosen Optimove, the #1 CRM Marketing solution for iGaming, to enhance player engagement and retention, helping accelerate the operator’s rapid growth. With Optimove’s advanced CRM Marketing capabilities, La Tinka and their online Sportsbook and Casino brand, Te Apuesto, is set to deliver optimized player journeys with personalized experiences across a broad range of digital touchpoints, enhancing player satisfaction, engagement, retention, and lifetime value.

The strategic integration of Optimove’s Customer-Led Marketing Platform and solution bolsters La Tinka’s refined player engagement strategies, further solidifying the operator’s position as a leading player in the Latin America iGaming industry. La Tinka will leverage Optimove’s OptiMail, a native platform for email personalization and delivery, OptiText, for real-time and scheduled promotional and transactional text messages, and OptiMobile, enabling La Tinka to send personalized rich media mobile push messages directly to players’ devices at optimal engagement times.

The scientific approach embedded in Optimove’s CRM Marketing Platform will empower La Tinka to measure the incremental value of each player interaction. La Tinka will gain key capabilities via Optimove:

Advanced marketing AI capabilities: providing AI-driven insights, Creation, and Orchestration for better player understanding, streamlining or content creation, and optimizing campaign orchestration for enhanced personalized experiences across channels and player touchpoints.

Enriched customer profiles: Unifying all historical, predictive, and real-time customer data from sources such as CRM, service clouds, and data warehouses via Optimove to create a comprehensive single customer view.

Multichannel personalization and orchestration: Orchestrating hundreds of campaigns seamlessly by leveraging Optimove’s AI-mapped CRM Journeys to deliver personalized customer communications across any channel.

A continuous optimization loop: Leverage Optimove’s productized experimentation tools to measure the incremental uplift of each campaign, journey, and strategy to optimize CRM Marketing performance continuously.

“At La Tinka, our dedication to providing an outstanding player experience is unwavering,” said Maria Jose Alfaro, Digital Business Manager at La Tinka. “Optimove, as the industry leader in CRM Marketing, enables us to deliver better, more personalized, and timely player experiences that seamlessly align with the dynamic pace of player engagement with our sports content and casino gaming. Their AI-driven solutions help us determine the next best action for each player to map to every player’s journey. This collaboration reflects our commitment to exceeding our players’ expectations for meaningful experiences at every touchpoint.”

“Smart clients push us to excel, and we’re excited to join La Tinka on their rapid growth journey,” said Tomer Imber, Senior Director of Sales at Optimove. “The La Tinka team truly understands the power of experiences that delight and excite players as a growth engine for the business. As La Tinka focuses on attracting players and converting them at higher rates, we are committed to helping deepen their player engagement and cement long-term retention.”

Optimove will attend and exhibit at SBC Summit Rio, March 5-7, booth D46.

 

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Gambling in the USA

High 5 Games Honored with Two Prestigious Awards at the EKG Slot Awards

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High 5 Games, a renowned leader in the casino gaming industry, is proud to announce the receipt of two highly respected awards at the EKG Slot Awards, presented by Eilers & Krejcik Gaming. The awards, “Top Sweepstakes Casino” for High 5 Casino and “Most Innovative Online Game” for Shadow of the Panther Infinity, spotlight High 5 Games’ commitment to excellence and innovation within the digital gaming sphere.

The “Top Sweepstakes Casino” award recognizes High 5 Casino’s exceptional performance and consumer engagement, particularly noting the platform’s expansive game library that exceeds over 1000 titles, cutting-edge technology, and dedication to responsible gaming.

The title of “Most Innovative Online Game” was captured by Shadow of the Panther Infinity, a game that has seamlessly transitioned from land-based popularity to online acclaim. This title features the innovative Racking Up Riches mechanic and the Infinity respins feature, bringing novel excitement to well-established game formats.

“Receiving ‘Top Sweepstakes Casino’ and ‘Most Innovative Online Game – Shadow of the Panther Infinity’ awards is a remarkable win for us. It is the recognition of our products and the impact they have on the industry. These awards inspire us to push the boundaries even further, innovating and elevating the online gaming experience for players around the world and contributing to the development of the iGaming sector as a whole,” said Tony Singer, CEO of High 5 Games.

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Compliance Updates

Asensi Technologies Appointed as Approved Agent by Kahnawake Gaming Commission

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Asensi Technologies, a leading provider of Technical Compliance and Certification Services for online Gaming and Gambling companies, proudly announces its appointment as an Approved Agent by the Kahnawake Gaming Commission. This partnership further solidifies Asensi Technologies’ commitment to ensuring regulatory compliance and integrity throughout the gaming industry.

With a track record dating back to 2017, Asensi Technologies has been at the forefront of providing Technical Compliance and Certification Services to gaming operators and suppliers alike. Accredited as a gaming laboratory in Spain since 2017 and most recently in Peru on February 13, 2024, Asensi Technologies has continually demonstrated its expertise in facilitating compliance with regulatory requirements.

The Kahnawake Gaming Commission’s decision to designate Asensi Technologies as an Approved Agent reflects the company’s commitment to upholding the highest standards of regulatory compliance and integrity. Asensi Technologies is poised to assist the Kahnawake Gaming Commission in fulfilling its regulatory objectives effectively and efficiently, ensuring the integrity of gaming operations at every level of the industry and supporting all stakeholders in meeting regulatory standards.

“We are honored to be appointed as an Approved Agent by the Kahnawake Gaming Commission,” said Aurora Merino Salas, CEO at Asensi Technologies. “This appointment further validates our dedication to providing comprehensive technical compliance and certification services and also underscores our steadfast commitment to promoting transparency and integrity throughout the gaming industry.”

Asensi Technologies remains fully committed to leveraging its expertise and experience to assist the Kahnawake Gaming Commission in achieving its regulatory objectives. The company’s comprehensive range of services aims to facilitate seamless compliance for gaming operators and suppliers, thereby enhancing trust and confidence in the gaming sector.

“We extend our gratitude to the Kahnawake Gaming Commission for trusting in our capabilities,” added Aurora Merino Salas. “At Asensi Technologies, we are committed to continuing our efforts to uphold the highest standards of regulatory compliance and integrity within the gaming industry. Without a dedicated, committed, and specialized team like that of Asensi Technologies, all these steps forward would be impossible.”

For more information about Asensi Technologies and its suite of Technical Compliance and Certification Services, please visit Asensi website.

 

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