The Michigan Gaming Control Board reported this week that Detroit’s three casinos have collectively made $108.7 million in revenue in May, flat and down less than 1% from May 2021’s numbers.
Revenues from table games and slots fell 1.5% year-over-year to nearly $106.3 million, and down 9.1% from April this year. Retail sports betting produced wins of $2.4 million, up 37% versus results in the prior-year period.
As reported by the regulator,MGM Grand Detroit was the month’s leader in revenue with 46% market share, while MotorCity Casino Hotel had 32% and the rebranded Hollywood Casino at Greektown had 22%.
MGM’s monthly gaming revenue was up 8.3% from a year ago to $50 million. In comparison, MotorCity was down 9.5% to $34.6 million, while Greektown saw a decline of 8% to $21.7 million. The three properties paid $8.6 million in taxes to the state, and submitted $12.6 million in wagering taxes and development agreement payments to the city.
When it comes to retail sports betting, the casinos reported a total handle of nearly $22.8 million and total gross receipts of $2.4 million, with Hollywood Casino at Greektown taking the lead with $1.6 million in gross receipts. The state reports revenue and results tied to online gambling and sports betting separately.
Qualified adjusted gross receipts tied to retail sports betting were up 36.6% year-over-year in May. The three casinos paid $90,279 in taxes and submitted $66,096 in taxes to the city based on retail sports betting revenue.
These numbers are preceded by April’s report, which saw $118.73 million in revenue, up from $109.5 million in April 2021. Table games and slots generated $116.86 million in revenue while retail sports betting produced revenue of $1.87 million.
Original article: https://www.yogonet.com/international/news/2022/06/08/62948-detroit-casinos-report-flat–108m-revenues-during-may-only-mgm-grand-up-from-prioryear
