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Detroit casinos report $104.63 million in February 2024 revenue12 March 2024(PRESS RELEASE) -- The three Detroit casinos reported $104.63 million in monthly aggregate revenue for the month of February 2024, of which $104.76 million was generated from table games and slots, and negative ($124,853) from retail sports betting. The February market shares were: - MGM Grand Detroit Casino, 47% - MotorCity Casino, 30% - Hollywood Casino at Greektown, 23% Monthly Table Games, Slot Revenue, and Taxes February 2024 table games and slot revenue decreased 0.2% when compared to February 2023 revenue. February’s monthly revenue was 11.6% higher than January 2024. From 1 January through 29 February, the Detroit casinos’ table games and slots revenue decreased by 4.7% compared to the same period last year. The casinos’ monthly gaming revenue results were mixed compared to February 2023: - MGM, down 1.6% to $49.29 million - MotorCity, up 1.3% to $31.64 million - Hollywood Casino at Greektown, up 0.6% to $23.83 million In February 2024, the three Detroit casinos paid $8.49 million in gaming taxes to the State of Michigan. They paid $8.51 million for the same month last year. The casinos also reported submitting $12.5 million in wagering taxes and development agreement payments to the City of Detroit in February. Monthly Retail Sports Betting Revenue and Taxes The three Detroit casinos reported $13.2 million in total retail sports betting handle, and total gross receipts were negative ($120,142) for the month of February. Retail sports betting qualified adjusted gross receipts (QAGR) in February were down by $583,605 when compared to the same month last year. Compared to January 2024, February QAGR was down by $625,073. February QAGR by casino was: - MGM: negative ($121,207) - MotorCity: negative ($133,311) - Hollywood Casino at Greektown: $129,665 During February, the casinos paid $4,901 in gaming taxes to the state, compared to $17,341 for the same period last year, and reported submitting $5,991 in wagering taxes to the City of Detroit based on their retail sports betting revenue. Fantasy Contests For January 2024, fantasy contest operators reported total adjusted revenues of $1.1 million and paid taxes of $92,552. |