Detroit casinos report $107.2 million in July revenue
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The July market shares were:
Table Games and Slot Revenue and Taxes
July table games and slot revenue increased 4.8% when compared to June 2023 results. July monthly revenue was 0.7% higher than July 2022. From 1 January through 31 July, the casinos’ table games and slots revenue increased by 0.9% compared to the same period last year.
The casinos’ monthly gaming revenue results were mixed compared to July 2022:
- Hollywood Casino at Greektown, up 27.5% to $25.3 million
- MGM, down 2.4% to $50.0 million
- MotorCity, down 10.0% to $31.4 million
During July, the three Detroit casinos paid $8.65 million in taxes to the State of Michigan. They paid $8.58 million for the same month last year.
The casinos reported submitting $12.7 million in wagering taxes and development agreement payments to the City of Detroit in July.
Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $7.96 million in total retail sports betting handle, and total gross receipts were $485,763.
Retail sports betting qualified adjusted gross receipts were up by $868,951 compared to June 2023. July QAGR was down by 62.0% compared to the same month last year.
July QAGR by casino was:
- MGM: $121,017
- MotorCity: negative ($40,723)
- Hollywood Casino at Greektown: $397,249
During July, the casinos paid $19,590 in gaming taxes to the state and reported submitting $23,944 in wagering taxes to the City of Detroit based on retail sports betting revenue.
Fantasy Contests
For June, fantasy contest operators reported total adjusted revenues of $1.4 million and paid taxes of $117,117.
From January 1 through June 30, fantasy contest operators reported $12.1 million in aggregate fantasy contest adjusted revenues and paid $1.0 million in taxes.
