Detroit casino revenue declines in September
Total revenue for the month amounted to $103.4m (£92.1m/€106.2m), which was 2.5% lower than $106.1m in August this year and also 6.3% down from $110.4m in September of 2021.
Slots and table games accounted for $100.8m of revenue in September, down 5.7% from $106.9m in the same month last year and also 3.5% lower than $104.4m in August of this year.
The remaining $2.6m in revenue came from qualified adjusted gross receipts (QAGR) from retail sports betting at the casinos, a 24.9% decline on $3.5m in September 2021, but 56.3% higher than $1.7m in August.
It was also noted that sports betting handle for the month reached $18.5m, down 42.8% on last year but 69.1% up from $11.0m in August 2022.
The MGM casino remained the market leader with 48% share of the Detroit market, ahead of MotorCity on 31% and the Hollywood Casino at Greektown on 21%.
MGM’s revenue comprised $48.4m in slots and table games revenue and $1.0m in QAGR from sports betting. MotorCity posted $31.3m in slots and table games revenue and $833,534 in sports wagering QAGR, and Hollywood Casino $21.1m worth of slots and table games revenue, plus $768,912 in sports betting QAGR.
In terms of taxes, the three casinos paid $8.2m in gaming taxes to the State of Michigan and $12.5m in wagering taxes and development agreement payments to the City of Detroit during September.
The venues also paid $98,257 in retail sports betting gaming taxes paid to the State of Michigan, in addition to $120,091 to the City of Detroit in retail sports betting taxes.