Despite losses in retail sports betting

Detroit casinos report 2.9% year-on-year revenue increase to $101.5M in June

2023-07-20
Reading time 1:27 min

The three land-based casinos in Detroit, Michigan have reported a 2.9% year-on-year increase in revenue for June, bringing in a total of $101.5 million. This figure represents a $2.9 million increase compared to the same period in 2022 when the casinos achieved $98.6 million in revenue. However, it is worth noting that June's figure shows a 3.9% decline compared to May's revenue.

MGM Grand Detroit emerged as the market leader for the month, capturing 46% of the casino sector in the city. Following MGM were MotorCity with 32% and Hollywood Casino at Greektown with a 22% share of the land-based market.



MGM Grand Detroit

Table games and slots accounted for the entire month's revenue at $101.9 million, marking a 3.8% year-on-year increase from June 2022. However, on a monthly basis, this total represents a 2.7% decline compared to May's revenue. In the six-month period leading up to June 30, table games and slots witnessed a 0.9% increase compared to H1 2022.

The three casinos paid $8.3 million in taxes to the Great Lakes State in June, a 3.8% increase compared to the $8 million paid by the businesses last year. Additionally, the land-based casinos contributed $12.1 million in wagering taxes and other payments to the City of Detroit in June.



MotorCity Casino

However, the retail sports betting segment experienced a setback in June due to a significant customer win at MotorCity Casino, which resulted in negative revenue of $395,606 overall for the month.

The drop was driven by a player securing a $972,000 win on June 18. Compared to the previous month, retail betting receipts declined by $1.3 million. When compared to the same month last year, receipts dropped by $844,308.

Breaking down retail sports betting revenue by casino, MGM reported $30,010, MotorCity suffered a loss of $708,625, and Hollywood Casino at Greektown generated $283,009 in revenue. As for retail sports betting handle, the casinos saw a combined $8.1 million in June

For June, the three Detroit casinos paid $11,832 in taxes to the state and an additional $14,462 to the City of Detroit based on their retail sports betting revenue.

Leave your comment
Subscribe to our newsletter
Enter your email to receive the latest news
By entering your email address, you agree to Yogonet's Condiciones de uso and Privacy Policies. You understand Yogonet may use your address to send updates and marketing emails. Use the Unsubscribe link in those emails to opt out at any time.
Unsubscribe
EVENTS CALENDAR