Michigan’s three Detroit casinos reported a 2.1% decrease in month-over-month overall monthly aggregate revenue. MGM, Motorcity and Hollywood Casino at Greektown recorded $104.9 million in August, down from $107.2 million in July.
The August market shares barely moved, with MGM maintaining 47% for the month of August, but MotorCity increased from 29 to 30% and Hollywood Casino at Greektown falling from 24% to 23%.
Table and slots revenue down month-over-month
99.7% of total revenue generated by the three Detroit based casino properties came from table games and slots revenue. For the month of August, $104.6 million was generated through table games and slots, which was down 2.0% month-over-month from July’s $106.7 million.
When comparing year-over-year on a casino-by-casino revenue breakdown the results were as follows:
- MGM: Down 1.7% to $49.5 million
- MotorCity: Down 5.0% to $30.7 million
- Hollywood Casino at Greektown: Up 11.7% to $24.4 million
Sports betting handle rises, but revenue falls
Handle saw a 25% increase month-over-month from $8.0 million to $10.0 million in August. Total gross receipts however fell 32.6% from $485,763 in July to $327,291 in August. This was owing due to a lower margin, as July performed impressively across the United States.
Tax generated by MI sports betting for the month was $27,064, whereas casinos reported submitting a total of $16.5 million in wagering taxes and development agreement payments to the City of Detroit in August.
The Michigan Gaming Control Board has recently reported data from online operators too, which far eclipsed the data reported by its retail counterparts. In addition, the responsible gaming campaign “Don’t Regret the Bet” has received a second international award, adding a Platinum dotCOMM award to a previously obtained Platinum Viddy.
The RG campaign received another $3 million in allocated funding in the Michigan Fiscal Year 2024. The award comes in a timely fashion, being given in Responsible Gaming Education Month showing the power of RG initiatives.