Total Detroit casino revenue for April amounted to $109.4m (£86.8m/€101.0m). This is only marginally lower than $109.7m in April 2023 but 11.7% less than $123.9m in March this year.
Of this total, $107.9m came from table games and slots, down 1.6% year-on-year. This was also 11.8% behind March’s total.
The other $1.6m of revenue was generated in qualified adjusted gross receipts (QAGR) from sports betting. This is in contrast to a $14,489 loss in April 2023 and in line with the $1.6m posted in March.
MGM retains the lead in Detroit
Looking at each commercial casino in Detroit, MGM remains some way out in front in terms of total revenue. During April, MGM held a market share of 46.0%, compared to MotorCity on 30.0% and Hollywood Casino at Greektown with 24.0%.
MGM reported $49.9m in table games and slots revenue in April, down 0.7% on last year. MotorCity also saw revenue here drop 4.5% to $32.7m, although Hollywood Casino posted a 0.6% increase to $25.3m.
As for sports betting, Hollywood Casino continues to lead in this market, posting $578,131 in QAGR. Incidentally, this is significantly lower than $1.4m in April 2023, but growth elsewhere meant overall positive QAGR.
MotorCity reported $516,812 in sports betting QAGR, in contrast to last year’s $1.7m loss. MGM held steady at $475,492, up from $432,195 in the previous year.
In terms of table games and slots taxation, the three Detroit casinos paid $8.7m in gaming taxes to the State of Michigan. The casinos also submitted $12.8m in wagering taxes and development agreement payments to the City of Detroit.
For sports betting, the casinos paid $59,362 in gaming taxes to the state and $72,554 in wagering taxes to Detroit.
Original article: https://igamingbusiness.com/finance/detroit-casino-revenue-dips-in-april/
