Detroit’s Three Casinos Post Mixed February Results

The trio of casinos in the Michigan city of Detroit saw their aggregated gaming revenues for February decline by some 0.2% year-on-year to stand at slightly over $104.6 million.

The tally released by the Michigan Gaming Control Board regulator included approximately $104.7 million in combined slot and gaming table revenues for the 29 days, alongside a deficit of $124,853 from retail sports betting. 

The final reckoning nevertheless represented a boost of 11.6% when compared with the $94.4 million racked up by the 400-room MGM Grand Detroit, MotorCity Casino Hotel, and Hollywood Casino at Greektown facilities for January.

Disturbing Direction

The February result means the three Detroit casinos have seen their aggregated revenues from slots and gaming tables decrease by 4.7% year-on-year since the start of 2024. 

However, MGM Grand Detroit from MGM Resorts International managed to maintain its dominant local position courtesy of a 47% market share, which was followed by the similarly-sized MotorCity Casino Hotel and Hollywood Casino at Greektown with 30% and 23% slices, respectively.

Competitive Landscape

Detroit is home to around 640,000 people and has hosted its trio of land-based casinos, offering an array of about 9,800 slots as well as nearly 280 gaming tables for more than 20 years. 

The three venues have recently been facing a proliferation of legalized online casino and sports betting websites, in addition to increased competition from the 389-room Caesars Windsor, which is situated just across the Detroit River in Ontario, Canada.

Double Delight

The Michigan Gaming Control Board also revealed MGM Grand Detroit saw its February revenues from slot and casino gaming tables drop by 1.6% year-on-year to almost $49.3 million, while the nearby MotorCity Casino Hotel posted a 1.3% rise to just beyond $31.6 million. There was some good news for Hollywood Casino at Greektown, as its monthly tally in this area swelled by 0.6% to surpass $23.8 million.

This led the three Detroit casinos to pay $8.4 million in associated gaming taxes to the state in February, which was a fall of roughly 0.2% year-on-year, alongside city wagering fees and development agreement payments of $12.5 million.

Sports Betting Setback

Alongside all of this, the trio saw its February qualified adjusted gross receipts from retail sports betting plummet by $583,605 year-on-year and $625,073 month-on-month to a negative $120,142 off the aggregated handle of $13.2 million. MotorCity Casino Hotel was the biggest loser here, as its tally was in the red to the tune of $133,311 while MGM Grand Detroit posted a $121,207 shortfall.

On the other hand, Hollywood Casino at Greektown recorded positive February qualified retail sports betting adjusted gross receipts of $129,665, which led the three to hand over $4,901 in associated state gaming taxes.