Detroit Casinos Post Impressive August Performance
Expertise: iGaming, Online casinos
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In the month, all three establishments posted a combined revenue of $112.5 million. The figure saw an increase of 4.2% compared to the previous month, July. Table games and slots generated $110.8 million, while retail sports betting added $1.7 million. Slots and tables games total mark a 5.9% uptick compared to the same month last year.
The three casinos in the city experienced an increase in revenue in August. MGM maintained its lead in the month, capturing 48% of the market share. MotorCity and Hollywood Casino at Greektown trailed behind, with 28% and 24%, respectively.
MGM’s revenue surged 8.9% from July to $53.9 million. MotorCity saw a modest 0.1% increase in revenue to $30.7 million. Hollywood Casino at Greektown reported $26.2 million in revenue, a 7.4% increase.
In August, Detroit’s casinos paid $9 million in gaming taxes to the state and an additional $17.3 million to the city as wagering taxes and development agreement payments.
MotorCity Retains Sports Betting Lead
Regarding retail sports betting, the three casinos collected nearly $9.6 million in total handle, resulting in gross receipts of $1.7 million.
Qualified adjusted gross receipts (QAGR) rose by $1.4 million compared to August 2023. MotorCity took the lead in sports betting activity for the month with a QAGR of almost $0.9 million.
Detroit is the only city in Michigan with commercial casinos. All other physical gambling establishments in the state are operated by Native American tribes on their reservations or off-reservation lands. Michigan online casinos and sportsbooks also contribute to the thriving industry in the Great Lakes State.
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