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Michigan casinos report September 2024 revenue figures8 October 2024(PRESS RELEASE) -- The three Detroit casinos reported $101.98 million in monthly aggregate revenue for the month of September 2024, of which $101.23 million was generated from table games and slots, and $755,519 from retail sports betting. The September market shares were: - MGM Grand Detroit Casino, 47% - MotorCity Casino, 31% - Hollywood Casino at Greektown, 22% Monthly Table Games, Slot Revenue, and Taxes The casinos’ revenue for table games and slots for the month of September 2024 increased 1.2% when compared to the same month last year. September’s monthly revenue was 8.6% lower when compared to the previous month, August 2024. From 1 January through 30 September, the Detroit casinos’ table games and slots revenue increased by 1.0% compared to the same period last year. The casinos’ monthly gaming revenue results were mixed compared to September 2023: - MGM, up 6.6% to $47.68 million - MotorCity, up 0.5% to $31.17 million - Hollywood Casino at Greektown, down 7.8% to $22.38 million In September 2024, the three Detroit casinos paid $8.2 million in gaming taxes to the State of Michigan. They paid $8.1 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 September. Monthly Retail Sports Betting Revenue and Taxes The three Detroit casinos reported $22.02 million in total retail sports betting handle, and total gross receipts were $771,751 for the month of September. Retail sports betting qualified adjusted gross receipts (QAGR) were down by 52.0% in September when compared to September 2023, and down by 55.4% when compared to August 2024. September QAGR by casino was: - MGM: $601,794 - MotorCity: $11,817 - Hollywood Casino at Greektown: $141,908 During September, the casinos paid $28,559 in gaming taxes to the state and reported submitting $34,905 in wagering taxes to the City of Detroit based on their retail sports betting revenue. Fantasy Contests For August 2024, fantasy contest operators reported total adjusted revenues of $613,448 and paid taxes of $51,530. |