Detroit casinos report nearly $120M in revenue last month, $1.237B for 2023
DETROIT (WXYZ) — During December of 2023, Detroit's three casinos reported $116.2 million in monthly aggregate revenue (AGR) with $111.4 million generated solely from table games and slots, and $4.8 million from sports betting.
According to the Michigan Gaming Control Board (MGCB), December's revenue among the three casino's represents the following:
- MGM, 44%
- MotorCity, 32%
- Hollywood Casino at Greektown, 24%
Monthly table games, slot revenue, and taxes increased 2.9% in December 2023 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%," MGCB said when compared to the same period last year.
MGM is down 0.7% ($50.6 million), MotorCity is up by 5.1% ($34.7 million), and Hollywood Casino at Greektown saw an increase of 7.5% ($26.1 million) in revenue from the same period in 2022.
Monthly retail sports betting revenue and taxes for the three casinos was reported at "$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%," MGCB said.
In December, each casino's QAGR was the following:
- MGM: $291,171
- MotorCity: $2.3 million
- Hollywood Casino at Greektown: $2.2 million
During December, MGM, Motor City and Hollywood Casino paid $180,822 in gaming taxes to the State of Michigan and $221,005 in wagering taxes to the City of Detroit. Table games, slots, and retail sports betting annual aggregate revenue was $1.237 billion, a decrease of 3.1% when compared to 2022:
- Slots: $984.1 million (80%)
- Table games: $238.7 million (19%)
- Retail sports betting: $14.0 million (1%)
The casinos’ market shares for the 2022 were the following:
- MGM, 46%
- MotorCity, 31%
- Hollywood Casino at Greektown, 23%
When 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," MGCB said.
Last year, MGCB says Detroit's three casinos paid the State of Michigan $99 million in wagering taxes for slots and table games and $528,314 in wagering taxes was paid for retail sports betting.
