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Detroit casinos report $113.2 million in May revenue11 June 2024(PRESS RELEASE) -- The three Detroit casinos reported $113.2 million in monthly aggregate revenue for the month of May 2024, of which $111.3 million was generated from table games and slots, and $1.9 million from retail sports betting. The May market shares were: - MGM Grand Detroit Casino, 46% - MotorCity Casino, 31% - Hollywood Casino at Greektown, 23% Monthly Table Games, Slot Revenue, and Taxes The casinos’ revenue for table games and slots for the month of May 2024 increased 6.3% when compared to the same month last year. May’s monthly revenue was 3.2% higher when compared to the previous month, April 2024. From Jan. 1 through May 31, the Detroit casinos’ table games and slots revenue decreased by 0.1% compared to the same period last year. The casinos’ monthly gaming revenue results all increased compared to May of last year: - MGM, up 5.3% to $51.9 million - MotorCity, up 4.9% to $33.7 million - Hollywood Casino at Greektown, up 10.3% to $25.7 million In May 2024, the three Detroit casinos paid $9.0 million in gaming taxes to the State of Michigan. They paid $8.5 million for the same month last year. The casinos also reported submitting $13.2 million in wagering taxes and development agreement payments to the City of Detroit in May. Monthly Retail Sports Betting Revenue and Taxes The three Detroit casinos reported $11.1 million in total retail sports betting handle, and total gross receipts were $1.9 million for the month of May. Retail sports betting qualified adjusted gross receipts were up by $965,019 in May when compared to the same month last year. Compared to April 2024, May QAGR was up by 18.4%. May QAGR by casino was: - MGM: $545,028 - MotorCity: $825,176 - Hollywood Casino at Greektown: $488,548 During May, the casinos paid $70,261 in gaming taxes to the state and reported submitting $85,874 in wagering taxes to the City of Detroit based on their retail sports betting revenue. Fantasy Contests For April 2024, fantasy contest operators reported total adjusted revenues of $561,404 and paid taxes of $47,158. |