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Detroit casinos report nearly $120M in revenue last month, $1.237B for 2023

Posted at 11:39 AM, Jan 09, 2024
and last updated 2024-01-10 07:49:05-05

DETROIT (WXYZ) — During December of 2023, Detroit's three casinos reported $116.2 million in monthly aggregate revenue (AGR) with $111.4 million generated solely from table games and slots, and $4.8 million from sports betting.

According to the Michigan Gaming Control Board (MGCB), December's revenue among the three casino's represents the following:

  • MGM, 44%
  • MotorCity, 32%
  • Hollywood Casino at Greektown, 24%

Monthly table games, slot revenue, and taxes increased 2.9% in December 2023 when compared to December 2022 revenue.

"December’s monthly revenue was also 46.6% higher than November 2023. From Jan. 1 through Dec. 31, the Detroit casinos’ table games and slots revenue decreased by 2.7%," MGCB said when compared to the same period last year.

MGM is down 0.7% ($50.6 million), MotorCity is up by 5.1% ($34.7 million), and Hollywood Casino at Greektown saw an increase of 7.5% ($26.1 million) in revenue from the same period in 2022.

Monthly retail sports betting revenue and taxes for the three casinos was reported at "$30.4 million in total retail sports betting handle, and total gross receipts were $4.8 million for the month of December. Retail sports betting qualified adjusted gross receipts (QAGR) in December 2023 were up by $3.1 million when compared to December 2022. Compared to November 2023, December QAGR increased 54.9%," MGCB said.

In December, each casino's QAGR was the following:

  • MGM: $291,171
  • MotorCity: $2.3 million
  • Hollywood Casino at Greektown: $2.2 million

During December, MGM, Motor City and Hollywood Casino paid $180,822 in gaming taxes to the State of Michigan and $221,005 in wagering taxes to the City of Detroit. Table games, slots, and retail sports betting annual aggregate revenue was $1.237 billion, a decrease of 3.1% when compared to 2022:

  • Slots: $984.1 million (80%)
  • Table games: $238.7 million (19%)
  • Retail sports betting: $14.0 million (1%)

The casinos’ market shares for the 2022 were the following:

  • MGM, 46%
  • MotorCity, 31%
  • Hollywood Casino at Greektown, 23%

When compared to 2022, slots and table games' yearly gaming revenue for the three casinos were as follows:

  • MGM, down by 6.0% to $564.0 million
  • MotorCity, down by 5.8% to $373.6 million
  • Hollywood Casino at Greektown, up by 9.5% to $285.2 million

"Aggregate retail sports betting qualified adjusted gross receipts (QAGR) for 2023 was down by 25.7% to $14.0 million compared to last year, with MGM totaling $2.3 million, MotorCity totaling $5.0 million, and Hollywood Casino at Greektown totaling $6.7 million," MGCB said.

Last year, MGCB says Detroit's three casinos paid the State of Michigan $99 million in wagering taxes for slots and table games and $528,314 in wagering taxes was paid for retail sports betting.