Detroit casinos
Detroit Casinos Report $79.1M in November Revenue
The three Detroit casinos reported $79.1 million in monthly aggregate revenue (AGR) for the month of November 2023, of which $76 million was generated from table games and slots, and $3.1 million from retail sports betting.
The November market shares were:
- MGM, 39%
- MotorCity, 34%
- Hollywood Casino at Greektown, 27%.
Table Games and Slot Revenue and Taxes
November 2023 table games and slot revenue decreased 23.9% when compared to November 2022 results. November monthly revenue was 7% lower than October 2023. From Jan. 1 through Nov. 30, the Detroit casinos’ table games and slots revenue decreased by 3.2% compared to the same period last year.
- MGM, down 34.4% to $30.6 million
- MotorCity, down 17.8% to $24.7 million
- Hollywood Casino at Greektown, down 10.8% to $20.7 million.
During November, the three Detroit casinos paid $6.2 million in gaming taxes to the State of Michigan. They paid $8.1 million for the same month last year.
The casinos reported submitting $9.4 million in wagering taxes and development agreement payments to the City of Detroit in November.
Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $15.3 million in total retail sports betting handle, and total gross receipts were $3.1 million for the month of November.
Retail sports betting qualified adjusted gross receipts (QAGR) were up by $1.2 million when compared to November 2022. November QAGR was up by $2.0 million compared to October 2023.
November QAGR by casino was:
- MGM: $230,847
- MotorCity: $2.2 million
- Hollywood Casino at Greektown: $657,535
During November, the casinos paid $116,769 in gaming taxes to the state and reported submitting $142,718 in wagering taxes to the City of Detroit based on retail sports betting revenue.
Fantasy Contests
For October, fantasy contest operators reported total adjusted revenues of $2.7 million and paid taxes of $229,544.
From Jan. 1 through Oct. 31, fantasy contest operators reported $19.5 million in aggregate fantasy contest adjusted revenues and paid $1.6 million in taxes.