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Detroit casinos report July 2024 revenue figures13 August 2024(PRESS RELEASE) -- The three Detroit casinos reported $105.9 million in monthly aggregate revenue for the month of July 2024, of which $106.3 million was generated from table games and slots, and negative ($399,229) from retail sports betting. The July market shares were: - MGM Grand Detroit Casino, 48% - MotorCity Casino, 29% - Hollywood Casino at Greektown, 23% Monthly Table Games, Slot Revenue, and Taxes The casinos’ revenue for table games and slots for the month of July 2024 decreased 0.4% when compared to the same month last year. July's monthly revenue was 1.7% higher when compared to the previous month, June 2024. From 1 January through 31 July, the Detroit casinos’ table games and slots revenue increased by 0.3% compared to the same period last year. The casinos’ monthly gaming revenue results were mixed compared to July 2023: - MGM, up 2.5% to $51.3 million - MotorCity, down 0.5% to $31.2 million - Hollywood Casino at Greektown, down 6.1% to $23.8 million In July 2024, the three Detroit casinos paid $8.61 million in gaming taxes to the State of Michigan. They paid $8.65 million for the same month last year. The casinos also reported submitting $12.7 million in wagering taxes and development agreement payments to the City of Detroit in July. Monthly Retail Sports Betting Revenue and Taxes The three Detroit casinos reported $6.58 million in total retail sports betting handle, and total gross receipts were negative ($379,047) for the month of July, with the latter figure due in large part to a patron’s winning sports bet at MotorCity Casino. Retail sports betting qualified adjusted gross receipts (QAGR) were down by $876,771 in July when compared to the same month last year. July QAGR by casino was: - MGM: $53,435 - MotorCity: negative ($647,136) - Hollywood Casino at Greektown: $194,472 During July, the casinos paid $9,371 in gaming taxes to the state and reported submitting $11,453 in wagering taxes to the City of Detroit based on their retail sports betting revenue. Fantasy Contests For June 2024, fantasy contest operators reported total adjusted revenues of $705,341 and paid taxes of $59,249. |