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Detroit casinos report $113.2M in May revenue

Wednesday 12 de June 2024 / 12:00

2 minutos de lectura

(Detroit).- The three Detroit casinos reported $113.2 million in monthly aggregate revenue (AGR) for the month of May 2024, of which $111.3 million was generated from table games and slots, and $1.9 million from retail sports betting.

Detroit casinos report $113.2M in May revenue

The May market shares were:

  • MGM, 46%
  • MotorCity, 31%
  • Hollywood Casino at Greektown, 23%

Monthly Table Games, Slot Revenue, and Taxes
The casinos’ revenue for table games and slots for the month of May 2024 increased 6.3% when compared to the same month last year. May’s monthly revenue was 3.2% higher when compared to the previous month, April 2024. From Jan. 1 through May 31, the Detroit casinos’ table games and slots revenue decreased by 0.1% compared to the same period last year.

The casinos’ monthly gaming revenue results all increased compared to May of last year:

  • MGM, up 5.3% to $51.9 million
  • MotorCity, up 4.9% to $33.7 million
  • Hollywood Casino at Greektown, up 10.3% to $25.7 million

In May 2024, the three Detroit casinos paid $9.0 million in gaming taxes to the State of Michigan. They paid $8.5 million for the same month last year. The casinos also reported submitting $13.2 million in wagering taxes and development agreement payments to the City of Detroit in May.

Monthly Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $11.1 million in total retail sports betting handle, and total gross receipts were $1.9 million for the month of May. Retail sports betting qualified adjusted gross receipts (QAGR) were up by $965,019 in May when compared to the same month last year. Compared to April 2024, May QAGR was up by 18.4%.

May QAGR by casino was:

  • MGM: $545,028
  • MotorCity: $825,176
  • Hollywood Casino at Greektown: $488,548

During May, the casinos paid $70,261 in gaming taxes to the state and reported submitting $85,874 in wagering taxes to the City of Detroit based on their retail sports betting revenue.

Fantasy Contests
For April 2024, fantasy contest operators reported total adjusted revenues of $561,404 and paid taxes of $47,158.

Gambling in any form is for entertainment purposes only. If you or someone you know may have a gambling problem, contact the National Problem Gambling Helpline at 1-800-GAMBLER, text 800GAM, or visit Help is available 24/7 and is free and confidential. Michigan citizens can also visit the Responsible Gaming page of the MGCB website for information on self-exclusion programs including the Disassociated Persons List and the Internet Gaming and Sports Betting Responsible Gaming Database, and for additional tools to game responsibly.


Tags: casinos,

País: United States

Región: North America


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