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Detroit casinos report $112.5 million in August revenue10 September 2024(PRESS RELEASE) -- The three Detroit casinos reported $112.5 million in monthly aggregate revenue for the month of August 2024, of which $110.8 million was generated from table games and slots, and $1.7 million from retail sports betting. The August market shares were: - MGM Grand Detroit Casino, 48% - MotorCity Casino, 28% - Hollywood Casino at Greektown, 24% Monthly Table Games, Slot Revenue, and Taxes The casinos’ revenue for table games and slots for the month of August 2024 increased 5.9% when compared to the same month last year. August’s monthly revenue was 4.2% higher when compared to the previous month, July 2024. From Jan. 1 through Aug. 31, the Detroit casinos’ table games and slots revenue increased by 0.9% compared to the same period last year. The casinos’ monthly gaming revenue results all increased compared to August 2023: - MGM, up 8.9% to $53.86 million - MotorCity, up 0.1% to $30.76 million - Hollywood Casino at Greektown, up 7.4% to $26.18 million In August 2024, the three Detroit casinos paid $8.97 million in gaming taxes to the State of Michigan. They paid $8.47 million for the same month last year. The casinos also reported submitting $17.3 million in wagering taxes and development agreement payments to the City of Detroit in August. Monthly Retail Sports Betting Revenue and Taxes The three Detroit casinos reported $9.61 million in total retail sports betting handle, and total gross receipts were $1.7 million for the month of August. Retail sports betting qualified adjusted gross receipts (QAGR) were up by $1.4 million in August when compared to August 2023, and up by $2.1 million when compared to July 2024. August QAGR by casino was: - MGM: $521,529 - MotorCity: $930,952 - Hollywood Casino at Greektown: $241,045 During August, the casinos paid $64,015 in gaming taxes to the state and reported submitting $78,241 in wagering taxes to the City of Detroit based on their retail sports betting revenue. Fantasy Contests For July 2024, fantasy contest operators reported total adjusted revenues of $555,117 and paid taxes of $46,630. |