Casinos in Detroit Report Monthly Revenue of $103.4 Million in September, a 7% Quarterly Revenue Decline
In September, the three casinos in Detroit reported combined monthly earnings of $103.4 million. Table games and slot machines brought in $100.8 million, while retail sports betting brought in $2.6 million.
MGM held a 48% market share in September, followed by MotorCity (31%), and Hollywood Casino in Greektown (21%). Monthly table game and slot machine income by the property were as follows:
- MGM, up a minuscule 0.01% to $48.4 million from September 2021;
- MotorCity went down by 14.2% to $31.3 million;
- Hollywood Casino in Greektown had a 4.3% decline to $21.1 million.
The three casinos in Detroit paid the State of Michigan $8.2 million in gaming taxes during September as opposed to $8.7 million during the same month last year.
The City of Detroit received wagering taxes and development agreement payments totaling $12.5 million in September from the three casinos in Detroit, according to reports.
The combined revenue for the third quarter fell by 7% between the same period last year and the three casinos in Detroit. Compared to Q3 of 2021, quarterly gaming revenue decreased at every resort.
- MGM had a 2.9% decrease to $150 million;
- MotorCity went down by 11.7% to $98.5 million;
- Greektown’s Hollywood Casino had a decline of 8.8% to $62.8 million.
In comparison to the $27.1 million the state got during the same period last year, the three casinos in Detroit paid the state $25.2 million in gaming taxes during Q3.