Detroit’s three casinos – MGM Grand Detroit, MotorCity Casino, and Hollywood Casino at Greektown – reported $94.4 million in monthly aggregate revenue (AGR) for January 2024. This marks the lowest monthly total unaffected by either work strife or the COVID-19 pandemic in more than 18 years.
Of the total, $93.9 million was generated from table games and slots, and $500,221 from retail sports betting.
MGM led the market shares for the month with 48%, followed by MotorCity at 30% and Hollywood Casino at Greektown at 22%.
January 2024 table games and slot revenue decreased 9.1% when compared to the same month last year. January’s monthly revenue was also 15.7% lower than December 2023.
In comparison to January 2023, the monthly gaming revenues of the three casinos exhibited a decline. MGM experienced an 11.3% decrease to clock $44.6 million, MotorCity saw a 10.4% downturn, reaching $27.1 million, and Hollywood Casino at Greektown recorded a 2.9% reduction, settling at $22.2 million.
The three Detroit casinos paid $7.6 million in gaming taxes to the State of Michigan in January. They paid $8.4 million for the same month last year. The casinos also reported submitting $11.2 million in wagering taxes and development agreement payments to the City of Detroit in January.
The casinos reported $24.2 million in total retail sports betting handle, and total gross receipts were $520,988 for January. Retail sports betting qualified adjusted gross receipts (QAGR) in January were up by $389,197 when compared to the same month last year. Compared to December 2023, January QAGR was down by $4.3 million.
For December 2023, fantasy contest operators reported total adjusted revenues of $484,140 and paid taxes of $40,668. From January through December 2023, fantasy contest operators reported $21.8 million in aggregate fantasy contest-adjusted revenues and paid $1.8 million in taxes.
Original article: https://www.yogonet.com/international/noticias/2024/02/14/70821-detroit-casinos-report-944-million-january-revenue-mgm-leads-with-48-market-share
