Detroit casino revenue continues to decline in October

Combined evenue for the month from the MGM Grand Detroit, MotorCity Casino and Hollywood Casino at Greektown was $102.8m (£86.6m/€98.9m), which was 10.0% lower than $114.1m in October 2021 and also 0.7% down from $103.4m in September this year.

Slots and table games revenue in October amounted to $100.7m, a year-on-year drop of 9.7% from $111.5m last year but only marginally lower than $100.8m in September this year.

Qualified adjusted gross receipts (QAGR) from retail sports betting from casinos accounted for the remaining $2.1m in revenue, down 19.2% from $2.6m in both October 2021 and September this year.

Sports wagering handle for the month reached $34.2m, a drop of 31.3% on last year but a 27.1% increase from $18.5m in September.

MGM remained the market leader with 46% share, ahead of MotorCity on 32% and the Hollywood Casino on 22%.

For MGM, $46.4m of its revenue came from slots and table games, with the other $711,959 generated from sports betting QAGR.

MotorCity posted $32.4m in slots and table games revenue and $680,649 in sports wagering QAGR, while Hollywood Casino reported $21.9m in slots and table games revenue and $702,147 in sports betting QAGR.

The three casinos paid $8.2m in gaming taxes to the State of Michigan and $12.4m in wagering taxes and development agreement payments to the City of Detroit during September.

The venues also paid $79,182 in retail sports betting gaming taxes to the State of Michigan, in addition to $96,778 to the City of Detroit in retail sports betting taxes.