The Michigan Gaming Control Board has reported that the three Detroit casinos recorded revenue of $477,543 from retail sports betting in the month of July. The casinos took aggregate $107.2 million in total gaming revenue ($106.7 million from table games and slots).

The July market shares were:

  • MGM, 47%
  • MotorCity, 29%
  • Hollywood Casino at Greektown, 24%

Sports betting handle down, but revenue up

Although but a small slither of the overall gaming pie, sports betting handle reported a month-over-month decrease in handle but increase in revenue.

Michigan retail sports betting handle decreased from $8.1 million in June to $8.0 million in July. However, revenue was up nearly $1 million, going from negative receipts of $378,641 in June to $485,763 in July. Hold for the month was 6.3%, up from -4.9% in June.

Gross sports betting receipts from online sports betting in June were $18.3 million, showing that retail share of sports betting revenue stood at just 2.7%, making them almost immaterial to the overall state picture. With the resumption of the NFL season, more sports bettors may be attracted to casinos to watch and bet on sports, but simultaneously the online uptick is expected to be significant, too.

Retail gaming figures remain robust

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 Jan. 1 through July 31, the casinos’ table games and slots revenue increased by 0.9% compared to the same period last year.

The Michigan casinos’ monthly gaming revenue results when year-over-year comparisons are made:

  • 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

Taxes received by the State of Michigan were up marginally year-over-year, with the three casinos paying $8.65 million in taxes in 2023, and $8.58 million in 2022.

The casinos reported submitting $12.7 million in wagering taxes and development agreement payments to the City of Detroit in July.

The Michigan Gaming Control Board recently received a Platinum Viddy Award for its responsible gaming campaign ‘Don’t Regret the Bet’, and received an additional $3 million of annual funding to continue the campaign.