Detroit casinos continue their declining trend in Nov.; report $101.8M in monthly aggregate revenue
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The Michigan Gaming Control Boardannounced Tuesday the three Detroit casinos have reported $101.8 million in monthly aggregate revenue in November. Table games and slots generated $99.9 million in revenue while retail sports betting produced $1.9 million. Market shares during November were 47% for MGM, 30% for MotorCity, and 23% for Hollywood Casino at Greektown.
Table games and slot revenue declined 3.8% when compared with November 2021 results. Revenue also fell a fractional 0.8% compared with October results. The three casinos’ table games and slots gaming revenue for the first 11 months of the year declined a fractional 0.6% compared with the same period last year.
In a year-over-year comparison, Hollywood Casino at Greektown saw $23.2 million in monthly gaming revenue for a 2.9% gain. Monthly gaming revenue fell both for MGM, down 3.3% to $46.7 million, and MotorCity Casino, down 9.1% to $30 million.
During November, the three Detroit casinos paid $8.1 million in gaming taxes to the State of Michigan compared with $8.4 million paid during the same period last year. The properties also reported paying $12.4 million in wagering taxes and development agreement payments to the City of Detroit during November.
Last month, retail sports betting qualified adjusted gross receipts (QAGR) dropped 57% compared with November 2021 results and declined 11.1% from October receipts. Total gross receipts were $1.9 million, and total handle was $18.1 million.
November QAGR totals by property were $807,913 for MGM; $741,222 for MotorCity; and $313,884 for Hollywood Casino at Greektown. State taxes from the Detroit casinos were $70,422 compared with $163,625 paid during November 2021. The venues reported submitting $86,071 in wagering taxes and development agreement payments to the City of Detroit during November.
Year-to-date aggregate retail sports betting qualified adjusted gross receipts through Nov. 30 were MGM with $5.5 million; MotorCity with $5 million; and Hollywood Casino at Greektown with $6.7 million.
During October, fantasy contest operators reported total adjusted revenues of $1.8 million and paid taxes of $149,075; andreported $13 million in aggregate fantasy contest adjusted revenuesand paid $1.1 million in taxes during the first 10 months of the year.
These numbers continue the ever-declining trend that Detroit has been suffering.Back in October, the properties reported $102.8 million in monthly aggregate revenue. Table games and slots generated $100.7 million in revenue, while retail sports betting amounted to $2.1 million.
The total aggregate revenue declined nearly 10% compared with $114.1 million in monthly revenue reported during Octoberlast year. Market shares during October were: MGM, 46%; MotorCity with 32%, and Hollywood Casino at Greektown with 22%.
