Another Down Month For Detroit Casinos

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.

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: MGM 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.

Broken down by operator, MGM led the field with $701,876 in QAGR, followed by Hollywood Casino at Greektown at $578,830, with MotorCity bringing up the rear at $382,147.

The three Detroit casinos reported total retail sports betting handle of $11,003,753. Total gross sports betting receipts were $1.66 million for the three retail sportsbook locations, for an unusually high hold above 15%. 

For the month, the state of Michigan collected $62,856 in sports betting taxes, with the city of Detroit netting $76,824.

Tables and slots

On the table and slot side, monthly revenue not only fell from last August, but it was also down 1.4% from July’s numbers.

Compared to last August, all three operators took a hit on gaming revenue. MGM was down 3.7% to $50.31 million; MotorCity was down 11.5% to $32.33 million; and Hollywood Casino at Greektown was off 6.7% to $21.84 million.

The casinos paid $8.5 million in slot and table game taxes to the state in August, and another $16.5 million to the city.

Photo: Shutterstock

Author: Justin King