Another down month for Detroit casinos in August, but a 15% hold for their sportsbooks

Another down month for Detroit casinos in August, but a 15% hold for their sportsbooks

Article brief provided by MI Bets
  • Jeff Edelstein, MI Bets
September 13, 2022 11:17 PM

The three brick-and-mortar Detroit casinos brought in $106.1 million in monthly aggregate revenue in August, with $104.4 million coming in via table games and slots and nearly $1.7 million in retail sports betting.

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Continuing a moderately worrisome trend, the August 2022 numbers were down compared to August 2021 numbers to the tune of over 5%, with last year’s combined revenue number coming in at $112.1 million.

Overall market share broke down as follows: BetMGM Casino at 48%, MotorCity at 31%, and Hollywood Casino at Greektown, 21%.

The sports betting side of the equation more than held its own, with qualified adjusted gross receipts (QAGR) up nearly 1% year-over-year. Additionally, QAGR increased 32% compared with July results.