In October 2024, the three Detroit casinos reported a monthly aggregate revenue of $102.9 million. This figure includes $103.7 million generated from table games and slots, while retail sports betting resulted in a loss of ($826,796).
The market shares for October were distributed as follows:
- MGM Grand Detroit Casino: 48%
- MotorCity Casino: 30%
- Hollywood Casino at Greektown: 22%
Monthly Table Games, Slot Revenue, and Taxes
Revenue from table games and slots in October 2024 saw a significant increase of 26.9% compared to the same month last year. This rise is partly attributed to a strike by casino employees on October 17, 2023, which had previously caused lower-than-normal AGR totals. Additionally, October’s monthly revenue was 2.4% higher than in September 2024. From January 1 to October 31, the Detroit casinos’ table games and slots revenue increased by 3.0% compared to the same period last year.
The monthly gaming revenue results for each casino increased compared to October 2023:
- MGM: up 32.4% to $49.4 million
- MotorCity: up 26.7% to $31.7 million
- Hollywood Casino at Greektown: up 16.5% to $22.6 million
In October 2024, the three Detroit casinos paid $8.4 million in gaming taxes to the State of Michigan, compared to $6.6 million for the same month last year. They also submitted $12.8 million in wagering taxes and development agreement payments to the City of Detroit in October.
Monthly Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported a total retail sports betting handle of $22.19 million for October, with total gross receipts amounting to negative ($822,552). Retail sports betting qualified adjusted gross receipts (QAGR) were down by $2.0 million compared to October 2023 and by $1.6 million compared to September 2024.
October QAGR by casino was:
- MGM: negative ($474,293)
- MotorCity: negative ($528,408)
- Hollywood Casino at Greektown: $175,905
During October, the casinos paid $6,649 in gaming taxes to the state and submitted $8,127 in wagering taxes to the City of Detroit based on their retail sports betting revenue.
Fantasy Contests
In September 2024, fantasy contest operators reported total adjusted revenues of $1.1 million and paid taxes of $89,282.
