Detroit casinos report $105.9 million July revenue, MGM leads with 48% market share

The three Detroit casinos posted $105.9 million in monthly aggregate revenue (AGR) for July. As reported by the Michigan Gaming Control Board, $106.3 million was generated from table games and slots, and negative ($399,229) from retail sports betting. The monthly market shares were distributed as follows: MGM held 48%, MotorCity 29%, and Hollywood Casino at Greektown 23%. 

Revenue from table games and slots decreased by 0.4% compared to July 2023; however, it was 1.7% higher than the previous month. From January 1 through July 31, revenue in this segment increased by 0.3% compared to the same period in 2023. Combined slot and table game revenue for the three casinos year-to-date comes out to $751 million, which is the best mark since pre-pandemic 2019.  

However, individual monthly gaming revenue results were mixed compared to July of last year with MGM up 2.5% to $51.3 million; MotorCity down 0.5% to $31.2 million; and Hollywood Casino at Greektown down 6.1% to $23.8 million. 

The casinos paid $8.61 million in gaming taxes to the State of Michigan, up from $8.65 million in July 2023. Additionally, they reported $12.7 million in wagering taxes and development agreement payments to the City of Detroit.

MGM Grand Detroit

The total retail sports betting handle for July was $6.58 million, and total gross receipts were negative ($379,047). The qualified adjusted gross receipts (QAGR) for retail sports betting were down by $876,771 in July when compared to the same month last year. 

July is the softest month of the sports calendar with just baseball on its own. In this context, MGM reported a QAGR of $53,435, MotorCity posted negative ($647,136), and Hollywood Casino at Greektown saw $194,472. The casinos paid $9,371 in gaming taxes to the state and $11,453 in wagering taxes to the City of Detroit from their retail sports betting revenue. 

For June 2024, fantasy contest operators reported total adjusted revenues of $705,341 and paid taxes of $59,249.