[NEWS RELEASE] Detroit casinos report $94.4M in January revenue

Michigan Gaming Control Board sent this bulletin at 02/13/2024 11:15 AM EST

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Michigan Gaming Control Board

FOR IMMEDIATE RELEASE
Contact: MGCB-Media@michigan.gov

Detroit casinos report $94.4M in January revenue

DETROIT, Feb. 13, 2024 — The three Detroit casinos reported $94.4 million in monthly aggregate revenue (AGR) for the month of January 2024, of which $93.9 million was generated from table games and slots, and $500,221 from retail sports betting.

The January market shares were:

  • MGM, 48%
  • MotorCity, 30%
  • Hollywood Casino at Greektown, 22%

Monthly Table Games, Slot Revenue, and Taxes
January 2024 table games and slot revenue decreased 9.1% when compared to January 2023 revenue. January’s monthly revenue was also 15.7% lower than December 2023. From Jan. 1 through Jan. 31, the Detroit casinos’ table games and slots revenue decreased by 9.1% compared to the same period last year.

The casinos’ monthly gaming revenue results were all lower compared to January 2023:

  • MGM, down 11.3% to $44.6 million
  • MotorCity, down by 10.4% to $27.1 million
  • Hollywood Casino at Greektown, down by 2.9% to $22.2 million

In January 2024, the three Detroit casinos paid $7.6 million in gaming taxes to the State of Michigan. 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.

Monthly Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $24.2 million in total retail sports betting handle, and total gross receipts were $520,988 for the month of 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.

January QAGR by casino was:

  • MGM: $403,926
  • MotorCity: $1.1 million
  • Hollywood Casino at Greektown: negative ($1.0 million)

During January, the casinos paid $58,073 in gaming taxes to the state, compared to $4,197 for the same period last year, and reported submitting $70,978 in wagering taxes to the City of Detroit based on their retail sports betting revenue.

Fantasy Contests
For December 2023, fantasy contest operators reported total adjusted revenues of $484,140 and paid taxes of $40,668.

From Jan. 1 through Dec. 31, 2023, fantasy contest operators reported $21.8 million in aggregate fantasy contest adjusted revenues and paid $1.8 million in taxes.

Gambling in any form is for entertainment purposes only. If you or someone you know may have a gambling problem, contact the National Problem Gambling Helpline, which offers hope and help without stigma or shame. Call 1-800-GAMBLER, text 800GAM, or visit www.1800gamblerchat.org. Help is available 24/7 and is free and confidential. Michigan citizens can also visit the Responsible Gaming page of the MGCB website for information on self-exclusion programs including the Disassociated Persons List and the Internet Gaming and Sports Betting Responsible Gaming Database, and DontRegretTheBet.org for additional tools to game responsibly.

The Michigan Gaming Control Board shall ensure the conduct of fair and honest gaming to protect the interests of the citizens of the state of Michigan. Learn more at Michigan.gov/MGCB.