Detroit casinos report $104.9 million August revenue, dipping slightly from July's $107.2 million
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The three Detroit casinos – MGM Grand Detroit, MotorCity, and Hollywood Casino at Greektown– reported $104.9 million in monthly aggregate revenue for the month of August 2023. The figure indicates a 1.1% year-on-year drop and was also 2.2% behind the $107.2 million reported in July this year.
Of this amount,$104.6 million was generated from table games and slots, while $322,186 was produced by retail sports betting.
The August market shares were:
- MGM - 47%
- MotorCity - 30%
- Hollywood Casino at Greektown - 23%
According to the Michigan Gaming Control Board, August table games and slot revenue decreased 2% when compared to July 2023 results. However, August's monthly revenue was 0.1% higher than the same month last year. From January 1 through August 31, the casinos’ table games and slots revenue increased by 0.8% compared to the same period in 2022.
The casinos’ monthly gaming revenue results were mixed compared to August 2022:
- Hollywood Casino at Greektown - up 11.7% to $24.4 million
- MGM - down 1.7% to $49.5 million
- MotorCity - down 5% to $30.7 million
During August, the three Detroit casinospaid $8.47 million in taxes to the State of Michigan. They paid $8.46 million for the same month last year. The casinos reported submitting $16.5 million in wagering taxes and development agreement payments to the City of Detroit in August.
The three Detroit casinos reported $10 million in total retail sports betting handle, whiletotal gross receipts were $327,291. Retail sports betting qualified adjusted gross receipts (QAGR) were down by 80.6% compared to August 2022. August QAGR was down by 32.5%compared to July 2023.
August QAGR by casino was:
- MGM: $85,644
- MotorCity: $195,955
- Hollywood Casino at Greektown: $40,587
During August, the casinos paid $12,179 in gaming taxes to the state and reported submitting $14,885 in wagering taxes to the City of Detroit based on retail sports betting revenue.
For July, fantasy contest operators reported total adjusted revenues of $1.2 million and paid taxes of $101,324. From January 1-July 31, fantasy contest operators reported $13.4 million in aggregate fantasy contest-adjusted revenues and paid $1.1 million in taxes.
