Detroit casinos report $102.8 million in October revenue

Casino City Times

Gaming News

14 November 2022

(PRESS RELEASE) -- The three Detroit casinos reported $102.8 million in monthly aggregate revenue in October. Table games and slots generated $100.7 million in revenue while retail sports betting generated a $2.1 million. Aggregate revenue declined nearly 10% compared with $114.1 million in monthly aggregate revenue reported for October 2021.Market shares during October were:
- MotorCity Casino, 32%
- Hollywood Casino at Greektown, 22%

Table Games and Slot Revenue

Table games and slot revenue declined 9.6% when compared with October 2021 results. Revenue also fell a fractional 0.1% compared with September results. The three casinos' gaming revenue for table games and slots during the first 10 months of the year declined a fractional 0.3% compared with same period last year.Compared with October 2021, Hollywood Casino at Greektown saw a fractional 0.3% increase in monthly gaming revenue to $21.9 million. Monthly gaming revenue fell both for MGM, down 11.9% to $46.4 million, and MotorCity Casino, down 12.3% to $32.4 million.During October, the three Detroit casinos paid $8.2 million in gaming taxes to the State of Michigan compared with $9 million paid during the same month last year.The three Detroit casinos reported submitting $12.4 million in wagering taxes and development agreement payments to the City of Detroit during October.

Retail Sports Betting Revenue and Taxes

Retail sports betting monthly qualified adjusted gross receipts (QAGR) fell 20.8% compared with October 2021 results and declined 19.4% from September receipts. Total gross receipts were $2.1 million, and total handle was $23,543,464.October QAGR totals by property were:- MGM, $711,959- MotorCity, $680,649- Hollywood Casino at Greektown, $702,147State taxes from the Detroit casinos were $79,182 compared with $99,977 paid during October 2021.The three Detroit casinos reported submitting $96,778 in wagering taxes and development agreement payments to the City of Detroit during October.Aggregate retail sports betting qualified adjusted gross receipts year-to-date through Oct. 31 were:- MGM, $4.7 million- MotorCity, $4.3 million- Greektown, $6.4 million

Fantasy Contests

During September, fantasy contest operators reported total adjusted revenues of $1.5 million and paid taxes of $126,719.

Fantasy contest operators reported $11.2 million in aggregate fantasy contest adjusted revenues and paid $944,224 in taxes during the first nine months of the year.