Detroit Casinos Collect $103 Million in Revenue in October 2024

An update from the Michigan Gaming Control Board has revealed how the three commercial casinos in Detroit performed in October 2024. The casinos collected $103.7 million in AGR from slots and table games, up 26.9% year-on-year and 2.4% month-on-month. But retail sports betting recorded a negative AGR of $826,796, bringing the total AGR down to $102.9 million. Still, this total marks an improvement from October 2023 and September 2024.

MGM Grand Detroit continued to hold a strong share of the market, with 48% compared to 47% in September and 46% last October. MotorCity secured 30%, while Hollywood Casino at Greektown accounted for the remaining 22%.

Subject to an 8.1% state wagering tax, the casinos paid around $8.4 million in gaming taxes in October, up from $6.6 million in October 2023. Additionally, they paid approximately $12.8 million in taxes to the City of Detroit, supporting public safety, roadworks, capital improvements, the police force, and more.

Casino Strikes Boost Year-on-Year Comparisons

As mentioned, the three casinos in Detroit collected 26.9% more revenue from slots and table games when compared with the same month last year. However, last October saw lower-than-normal totals amid a casino strike that began on October 17, 2023, involving thousands of workers. 

All three casinos remained open during the 47-day strike, but operated at reduced capacity, causing estimated losses of $3.4 million per day. The strike concluded in December 2023 as workers and operators reached an agreement, ratifying a contract that included historic wage increases and improved benefits. 

Month-on-month comparisons revealed minimal change, with MGM Grand Detroit reporting the largest increase of 3.6%. All in all, revenues remained steady when compared against September 2024. 

A Lucky Month for Michigan Sports Fans

The MGCB also reported that retail sports betting gross receipts totaled a negative $822,552 for the month, down by $2.0 million when compared to October 2023 and a $1.6 million drop from September 2024. However, this doesn’t reflect a slow month for sports betting. The casinos reported a sports betting handle of $22.2 million, which in fact marks a 22.7% increase compared to the $18.1 million wagered last October. The figure also marks a slight increase of around 0.8% from September’s $22.0 million.

The drop in receipts comes as bettors at both MGM Grand Detroit and MotorCity Casino collected more in winnings than they spent in October, while Hollywood Casino at Greektown was the only venue reporting a positive AGR of $175,905.

October 2024 marked the first full month of the 2024-25 NFL regular season, which kicked off on September 5. The good news for Detroit bettors and sports fans just keeps coming the Detroit Lions, the city’s beloved NFL team, has had a strong run so far this season, leading the NFC North with an 8-1 record. 

The President-Elect’s Casino History in Detroit

Although President-elect Donald Trump recently won Micigan’s 15 electoral votes, his winning record in the Great Lakes State hasn’t always been perfect. And we’re not referring to his loss of the state’s ballots to Joe Biden in 2020.

In 2016, Donald Trump bid for a casino license in Detroit, proposing an 800-room casino hotel that would bring 6,500 jobs to the city. “We think it’s going to be a terrific place, a magnificent casino and, if we’re chosen, we will not disappoint,” he said in June 1997. “We look forward to doing a really spectacular job in Detroit.”

However, while many in Detroit backed Trump’s plan, he failed to win a casino license after a Las Vegas accounting firm hired by the city found that his casino company was on the brink of financial collapse. The proposed $542 million casino relied on securing a $400 million junk-bond offering, with the firm concluding that Trump’s plan was one of the weakest financially.

Trump Entertainment Resorts (formerly Trump Hotel & Casino Resorts) filed for bankruptcy in 2004, 2009, and 2014, before Icahn Enterprises purchased the company in 2016.