Detroit Gambling Houses Earnings Decline to $109.4 Million in April

The gambling houses of Detroit saw a reduction in earnings in the fourth month of the year when compared to the same period in the previous year. All three of the city’s gambling establishments also experienced a monthly decrease.

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Detroit Gambling Houses Earnings Decline to $109.4 Million in April
Detroit’s gambling houses generated a combined total of $109.4 million (£86.8 million/€101 million) in the fourth month of the year. This was slightly lower than the $109.7 million recorded in April 2023, but down 11.7% from the $123.9 million seen in March.

Of this total, $107.9 million came from table games and slot machines, a 1.6% year-on-year decrease. This was also 11.8% lower than the total seen in March.

The remaining $1.6 million in revenue came from sports betting’s qualified adjusted gross revenue (QAGR). This was a contrast to the $14,489 loss recorded in April 2023 and was flat compared to the $1.6 million seen in March.

MGM Remains Top Dog in Detroit
Looking at each of Detroit’s commercial gambling houses, MGM remains the top dog in terms of total revenue. In April, MGM held a 46.0% market share, followed by MotorCity at 30.0% and Greektown Casino-Hotel at 24.0%.

MGM reported $49.9 million in table game and slot machine revenue in April, down 0.7% year-on-year. MotorCity also saw a decrease in revenue, down 4.5% to $32.7 million, while Hollywood Casino saw an increase of 0.6% to $25.3 million.

As for sports betting, Hollywood Casino continues to lead the way in this market, with a QAGR of $578,131. This was, incidentally, far less than a dollar.

During the fourth month of 2023, MotorCity’s sports wagering earnings hit a remarkable $4 million, leading to a positive overall quarterly growth rate despite expansion in other sectors.

MotorCity’s sports wagering quarterly growth rate was a substantial $516,812, a considerable improvement compared to the previous year’s $1.7 million deficit. MGM remained stable at $475,492, an increase from $432,195 in the preceding year.

The trio of Detroit gambling establishments contributed $8.7 million in gaming levies to the state of Michigan on table games and slot machines. The casinos also paid $12.8 million in betting taxes and development agreement payments to the city of Detroit.

Concerning sports wagering, the casinos paid $59,362 in gaming taxes to the state and $72,554 in wagering taxes to Detroit.

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