Detroit casinos
MGCB: Detroit casinos report $116.2M in December revenue, $1.237B for year
The three Detroit casinos reported $116.2 million in monthly aggregate revenue (AGR) for the month of December 2023, of which $111.4 million was generated from table games and slots, and $4.8 million from retail sports betting.
The December market shares were:
- MGM, 44%
- MotorCity, 32%
- Hollywood Casino at Greektown, 24%
Monthly Table Games, Slot Revenue, and Taxes
December 2023 table games and slot revenue increased 2.9% 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% compared to the same period last year.
The casinos’ monthly gaming revenue results were mixed compared to December 2022:
- MGM, down 0.7% to $50.6 million
- MotorCity, up by 5.1% to $34.7 million
- Hollywood Casino at Greektown, up by 7.5% to $26.1 million
In December 2023, the three Detroit casinos paid $9.0 million in gaming taxes to the State of Michigan. They paid $8.8 million for the same month last year. The casinos also reported submitting $13.8 million in wagering taxes and development agreement payments to the City of Detroit in December.
Quarterly Table Games, Slot Revenue, and Taxes
For the fourth quarter of 2023 that ended Dec. 31, aggregate revenue was down for all three Detroit casinos by 12.9% compared to the same period last year. Quarterly gaming revenue for the casinos was:
- MGM: $118.6 million
- MotorCity: $84.4 million
- Hollywood Casino at Greektown: $66.2 million
Compared to the fourth quarter of 2022, MGM, MotorCity, and Hollywood Casino at Greektown were down by 17.7%, 11.6%, and 4.7%, respectively. The three casinos paid $21.8 million in gaming taxes to the state in the fourth quarter of 2023, compared to $25.0 million in the same quarter last year.
Monthly Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $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%.
December QAGR by casino was:
- MGM: $291,171
- MotorCity: $2.3 million
- Hollywood Casino at Greektown: $2.2 million
During December, the casinos paid $180,822 in gaming taxes to the state and reported submitting $221,005 in wagering taxes to the City of Detroit based on their retail sports betting revenue.
Annual Revenue for Table Games, Slots, and Retail Sports Betting
The total yearly aggregate revenue of $1.237 billion — a slight decrease of 3.1% compared to last year — by the three Detroit casinos for slots, table games, and retail sports betting was generated by:
- Slots: $984.1 million (80%)
- Table games: $238.7 million (19%)
- Retail sports betting: $14.0 million (1%)
The casinos’ market shares for the year were:
- MGM, 46%
- MotorCity, 31%
- Hollywood Casino at Greektown, 23%
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.
In 2023, the three Detroit casinos paid the state $99.0 million in wagering taxes for slots and table games, and $528,314 in wagering taxes for retail sports betting. In 2022, they had paid $101.8 million and $711,087 for each, respectively.
Fantasy Contests
For November, fantasy contest operators reported total adjusted revenues of $1.8 million and paid taxes of $149,915.
From Jan. 1 through Nov. 30, fantasy contest operators reported $21.3 million in aggregate fantasy contest adjusted revenues and paid $1.8 million in taxes.