The three Detroit casinos reported an impressive $109.6 million in aggregate revenue for December 2024. Of this amount, table games and slots generated $109.3 million, while retail sports betting contributed $276,509.
December Market Shares:
- MGM Grand Detroit Casino: 47%
- MotorCity Casino: 30%
- Hollywood Casino at Greektown: 23%
Monthly Table Games, Slot Revenue, and Taxes
The revenue from table games and slots decreased by 1.9% compared to December 2023 but saw a 2.7% increase from November 2024. Overall, table games and slots revenue for the year increased by 4.9% compared to the previous year.
Monthly Revenue Compared to December 2023:
- MGM: Up by 1.3% to $51.2 million
- MotorCity: Down by 4.8% to $33.0 million
- Hollywood Casino at Greektown: Down by 4.1% to $25.1 million
In December 2024, the three casinos paid $8.9 million in gaming taxes to the State of Michigan, down slightly from $9.0 million the previous year. Additionally, they submitted $13.5 million in wagering taxes and development agreement payments to the City of Detroit.
Quarterly Table Games, Slot Revenue, and Taxes
For the fourth quarter of 2024, aggregate revenue for all three Detroit casinos increased by 18.7% compared to the same period in 2023.
Quarterly Gaming Revenue:
- MGM: $149.9 million
- MotorCity: $97.8 million
- Hollywood Casino at Greektown: $71.8 million
Compared to the fourth quarter of 2023, MGM, MotorCity, and Hollywood Casino at Greektown saw revenue increases of 26.4%, 15.9%, and 8.5%, respectively. The casinos paid $25.9 million in gaming taxes to the state in the fourth quarter of 2024, up from $21.8 million the previous year.
Monthly Retail Sports Betting Revenue and Taxes
In December, the three Detroit casinos reported a total retail sports betting handle of $19.77 million and gross receipts of $279,649. Retail sports betting adjusted gross receipts were down by 94.2% compared to December 2023 and 85.6% compared to November 2024.
December QAGR by Casino:
- MGM: Negative $154,514
- MotorCity: $342,638
- Hollywood Casino at Greektown: $88,385
The casinos paid $16,293 in gaming taxes to the state and reported submitting $19,913 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 $1.29 billion for the three Detroit casinos was generated by:
- Slots: $1.03 billion (79.8%)
- Table games: $250.96 million (19.4%)
- Retail sports betting: $9.7 million (0.8%)
Annual Market Shares:
- MGM: 47%
- MotorCity: 30%
- Hollywood Casino at Greektown: 23%
Compared to 2023, slots and table games revenue for the three casinos increased as follows:
- MGM: Up by 7.0% to $603.72 million
- MotorCity: Up by 3.3% to $385.87 million
- Hollywood Casino at Greektown: Up by 2.7% to $292.86 million
Aggregate retail sports betting adjusted gross receipts for 2024 decreased by 30.6% to $9.7 million compared to the previous year, with MGM totaling $2.8 million, MotorCity totaling $4.0 million, and Hollywood Casino at Greektown totaling $2.9 million.
In 2024, the three Detroit casinos paid the state $103.9 million in wagering taxes for slots and table games and $372,729 in wagering taxes for retail sports betting, compared to $99.0 million and $528,314, respectively, in 2023.
Fantasy Contests
In November, fantasy contest operators reported total adjusted revenues of $1.2 million and paid $100,486 in taxes. From January through November, fantasy contest operators reported $8.5 million in aggregate adjusted revenues and paid $713,587 in taxes.
