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Table games revenue drops at Detroit casinos in November 202312 December 2023(PRESS RELEASE) -- The three Detroit casinos reported $79.1 million in monthly aggregate revenue for the month of November 2023, of which $76 million was generated from table games and slots, and $3.1 million from retail sports betting. The November market shares were: - MGM Grand Detroit Casino, 39% - MotorCity Casino, 34% - Hollywood Casino at Greektown, 27% Table Games and Slot Revenue and Taxes November 2023 table games and slot revenue decreased 23.9% when compared to November 2022 results. November monthly revenue was 7% lower than October 2023. From 1 January through 30 November, the Detroit casinos’ table games and slots revenue decreased by 3.2% compared to the same period last year. - MGM, down 34.4% to $30.6 million - MotorCity, down 17.8% to $24.7 million - Hollywood Casino at Greektown, down 10.8% to $20.7 million During November, the three Detroit casinos paid $6.2 million in gaming taxes to the State of Michigan. They paid $8.1 million for the same month last year. The casinos reported submitting $9.4 million in wagering taxes and development agreement payments to the City of Detroit in November. Retail Sports Betting Revenue and Taxes The three Detroit casinos reported $15.3 million in total retail sports betting handle, and total gross receipts were $3.1 million for the month of November. Retail sports betting qualified adjusted gross receipts were up by $1.2 million when compared to November 2022. November QAGR was up by $2.0 million compared to October 2023. November QAGR by casino was: - MGM: $230,847 - MotorCity: $2.2 million - Hollywood Casino at Greektown: $657,535 During November, the casinos paid $116,769 in gaming taxes to the state and reported submitting $142,718 in wagering taxes to the City of Detroit based on retail sports betting revenue. Fantasy Contests For October, fantasy contest operators reported total adjusted revenues of $2.7 million and paid taxes of $229,544. From 1 January through 31 October, fantasy contest operators reported $19.5 million in aggregate fantasy contest adjusted revenues and paid $1.6 million in taxes. |