Detroit Casinos Rack Up Healthy June Revenues

The trio of commercial casinos in the Michigan city of Detroit experienced a strong June as their aggregated gaming revenues increased by 3.8% year-on-year to stand just north of $105.4 million. 

A city of some 640,000 people, Detroit is also home to the 400-room MotorCity Casino Hotel, Hollywood Casino at Greektown and MGM Grand Detroit facilities that together offer a selection of about 9,800 slots alongside almost 280 gaming tables. 

The three venues moreover feature retail sportsbooks, multiple bars and restaurants and private poker rooms regularly running a variety of in-house tournaments.

Cautious Confidence 

Official data from the Michigan Gaming Control Board regulator showed the trio’s combined revenues reckoning for June was better than the $101.5 million chalked up for the same 30-day period in 2023 and took the six-month tally up by almost 1% year-on-year to around $650.9 million.

However, the June figure represented a disappointing drop of 6.8% when compared with May’s ultimate result of $113.2 million and additionally sat as the lowest monthly finish since February’s $104.6 million.

Primary Provider

The Michigan Gaming Control Board detailed aggregated June revenues from the Detroit trio’s collection of slot and gaming tables had improved by 2.6% year-on-year to top $104.5 million although this was over 6% down on the $111.3 million recorded for May.

The 24-year-old MGM Grand Detroit from operator MGM Resorts International was a winner in June as its slot and gaming table revenues swelled by 3.6% year-on-year to surpass $48.7 million. 

Penn Entertainment Incorporated’s downtown Hollywood Casino at Greektown experienced an even better 9% boost to a bit above $24.3 million although the nearby MotorCity Casino Hotel saw its own tally slump by 3.1% to just shy of $31.5 million.

All of this led the three to pay $8.5 million in associated state gaming taxes, which was 2.4% more than the $8.3 million paid for the same month last year, alongside city wagering fees and development agreement payments of $12.4 million.

Highlighting their importance, the Michigan Gaming Control Board said the trio has now handed over more than $128.8 million in such levies to authorities in ‘The Wolverine State’ since the start of 2024.

Wagering Wilt

The retail sportsbooks within the three casinos did not have such a good June as a distinct lack of local sporting action saw their aggregated gross receipts fall by 52.2% month-on-month to about $894,800. 

This was nevertheless a boost of over 336% when compared to the negative $378,600 chalked up for the same month in 2023 and came as combined handle improved by 3.7% year-on-year to roughly $8.4 million.

Michigan levies a lower tax rate on retail sports betting revenues when compared with land-based casino earnings and the trio contributed approximately $33,600 to the state in June, which equated to a drop of 109% month-on-month, in addition to some $41,000 to the city of Detroit.