Detroit commercial casinos record $101.6 million in revenue for September

October 27, 2023 12:35 PM
Photo: Shutterstock
  • Steve Chen — Special to CDC Gaming Reports
October 27, 2023 12:35 PM
  • Steve Chen — Special to CDC Gaming Reports

September saw Detroit’s commercial casinos register a combined revenue of $101.6 million, according to a report published by the Michigan Gaming Control Board (MGCB). The figures show that $100 million came from table games and slots, with the remaining $1.6 million from retail sports betting.

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The market share was dominated by MGM, with the Grand Detroit holding a 44% share, Ilitch Holdings’s MotorCity earning 31% of the markets, and Penn Entertainment’s Hollywood Casino at Greektown with 25%. Individual casino performance against September 2022 showed Hollywood Casino at Greektown surging by 15.1% to $24.3 million, while MGM declined by 7.6% to $44.7 million, and MotorCity dropped slightly by 1.1% to $31 million.

Table games and slot revenue dipped 0.8% from September 2022 and were 4.4% below August 2023’s figures. However, from January to September, there was a slight 0.6% increase compared to the same period in 2022.

The casinos contributed $8.1 million in gaming taxes to Michigan in September, a minor decrease from the $8.2 million paid in September 2022. Additionally, they submitted $12.3 million in wagering taxes and municipal development agreement payments to Detroit. These payments are deposited into the state’s education fund to be invested in K-12 education in the city.

Retail sportsbooks registered a total handle of $18.1 million, with gross receipts at $1.6 million. The Qualified Adjusted Gross Receipts (QAGR) for retail sports betting fell 39.4% from September 2022 but increased by $1.3 million against August 2023.

Lastly, operators reported $1.3 million in revenues for fantasy contests in August and paid taxes totaling $110,903. They recorded $14.7 million in revenues from January through August, leading to $1.2 million in tax contributions.

These figures follow a report from Michigan’s commercial and tribal operators released on October 24. The MGCB reported $210.4 million in total igaming and gross sports betting receipts in September, a 20% growth from August. The September figures include $166.4 million from igaming and $44.0 million from sports betting.

The total adjusted gross receipts for igaming and internet sports betting reached $168.5 million, marking increases of 9.2% and 17.8%, respectively, from August. Year-on-year comparisons show a 29.3% rise in igaming and a 31.1% drop in sports betting.

For the month, operators paid $32.6 million in taxes and payments to Michigan, with the three Detroit casinos paying $7.97 million in taxes and fees to the City of Detroit. Tribal operators contributed $4.0 million in payments to governing bodies during the same month.