Detroit May Gambling Revenues Top $111 Million

According to the Michigan Gaming Control Board, the Detroit casinos generated a total of $111.3 million from table games and slot machines, while retail sports betting contributed an additional $1.9 million to the overall revenue. This performance marks a 6.3% increase in revenue from table games and slots compared to May 2023, as well as a 3.2% improvement over the previous month.

The monthly market share distribution among the three casinos was as follows: MGM Grand Detroit held the largest share at 46%, followed by MotorCity Casino at 31%, and Hollywood Casino at Greektown accounting for 22%. This breakdown highlights the continued dominance of MGM Grand Detroit, while also showcasing the strong performance of its competitors in the local market.

Interestingly, the revenue figures from January 1 through May 31 of 2024 showed a slight decrease of 0.1% compared to the same period in the previous year. This slight dip may be attributed to various economic factors or shifting consumer preferences, but it does not diminish the overall positive performance observed in the month of May.

A closer look at the individual casino results reveals that all three establishments reported increases in their monthly gaming revenue compared to May 2023. MGM Grand Detroit saw a 5.3% rise to $51.9 million, MotorCity Casino experienced a 4.9% increase to $33.7 million, and Hollywood Casino at Greektown recorded a notable 10.3% jump to $25.7 million.

The strong revenue performance also translated into higher tax contributions for the state and local government. The Detroit casinos paid $9.0 million in gaming taxes to the State of Michigan, up from $8.5 million in May 2023. Additionally, they reported $13.2 million in wagering taxes and development agreement payments to the City of Detroit.

The retail sports betting segment also contributed significantly to the overall revenue, with a total handle of $11.1 million and gross receipts amounting to $1.9 million. The qualified adjusted gross receipts (QAGR) for retail sports betting rose by $965,019 in May when compared to the same month last year, representing an 18.4% increase from April 2024.

Breaking down the sports betting performance, MGM Grand Detroit reported a QAGR of $545,028, MotorCity Casino recorded $825,176, and Hollywood Casino at Greektown generated $488,548. The casinos paid $70,261 in gaming taxes to the state and $85,874 in wagering taxes to the City of Detroit from their retail sports betting revenue.