Slots were by far the primary source of revenue for the Detroit land-based casinos in 2023. Aggregate revenue from slots reached $984.1m, marginally higher than $983.7m in the previous year.
However, table games revenue was 12.7% lower at $238.7m. Retail sports betting qualified adjusted gross receipts (QAGR) also declined 25.7% to $14.0m.
Slots accounted for 80.0% of all revenue in Detroit during 2023. Tables games’ share stood at 19.0% and sports betting the over 1.0%.
MGM remains clear leader in Detroit
Breaking down performance by each casino, MGM Grand Detroit was again led the way with a 46.0% market share.
MGM posted $564.0m in combined slots and table games revenue, down 6.0%. The casino also reported $2.3m in sports betting QAGR.
Placing second was MotorCity Detroit with a 31.0% share. Slots and table games revenue fell 5.8% to $373.6m, with sports betting QAGR at $5.0m.
Rounding off Detroit’s market was the Hollywood Casino at Greektown with a 23.0% share. Revenue from slots and table games increased to $285.2m, while sports wagering QAGR amounted to $5.0m.
The three Detroit casinos paid the state $99.0min wagering taxes for slots and table games. A further $528,314 was paid in wagering taxes for retail sports betting.
December revenue rises 5.7% year-on-year
Turning to the final month of the year, total market revenue in December was up by 5.7% to $116.2m.
Table and slots revenue climbed 2.9% year-on-year to $111.4m. This was also 46.6% ahead of $76.0m in November 2023.
Sports betting QAGR rocketed 200.0% from $1.6m in December 2022 to $4.8m, with this also 54.8% more than $3.1m in November. Detroit players spent a total of $30.4m betting on sports at retail facilities during month.
MGM had a 44.0% market share in December, with MotorCity at 32.0% and the Hollywood Casino 24.0%.
Slots and table games revenue at MGM fell 0.7% to $50.6m, with sports betting QAGR at $291,171. MotorCity said slots and table games revenue was 5.1% higher at $34.7m and also posted $2.3m in sports betting QAGR.
Finally, Hollywood Casino reported a 7.5% rise in slots and table games revenue to $26.1m, plus $2.2m in sports betting QAGR.
During December, the three Detroit casinos paid $9.0m in gaming taxes to the state. They also reported $13.8m in wagering taxes and development agreement payments to the City of Detroit.
An additional $180,822 was paid in gaming taxes to the state in relation to sports betting. In addition, some $221,005 in wagering taxes was submitted the City of Detroit based sports betting revenue.
Original article: https://igamingbusiness.com/casino-games/detroit-casino-revenue-slips-in-2023/
