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Detroit casinos bounced back from the workers’ strike, with December monthly gaming revenue being the state’s second-largest total this year.
The three Detroit casinos – MGM, MotorCity, and Hollywood Casino at Greektown – reported $116.2 million in monthly aggregate revenue (AGR) during December. Of the total AGR:
- $111.4 million was generated from slots and table games
- $4.8 million came from retail sports betting
December’s revenue figure split among the three Michigan casinos in Detroit represents the following market share:
- MGM: 44%
- MotorCity: 32%
- Hollywood Casino at Greektown: 24%
Detroit casinos are back on track with strong December figures
Looking at December totals, table games and slot revenue increased 2.9% compared to December 2022. December 2023’s monthly revenue total of $111.4 million was also 46.6% higher than Detroit’s November 2023 gaming revenue of $76 million.
As the Michigan Gaming Control Board revealed, these are casinos’ monthly gaming revenue results in December:
- MGM Grand Detroit: $50.6 million (down 0.7% year-over-year)
- MotorCity Casino: $34.7 million (an annual increase of 5.1%)
- Hollywood Casino at Greektown: $26.1 million (a 7.5% increase from December 2022)
All three casinos’ gaming revenues were the second-best in 2023 after March.
Detroit casinos paid $9.0 million in gaming taxes to the State of Michigan in December. The figure compares to $8.8 million the three gaming venues paid in December 2022.
Last month, the casinos also reported paying $13.8 million in wagering taxes and development agreement payments to the City of Detroit.
Detroit casinos’ sports betting numbers skyrocket in December
Detroit casinos generated $30.4 million in betting handle (total bets). The figure represents the 2023 record and is the second-best retail handle after January 2022’s $35.9 million.
December’s retail betting handle represents an 88.8% annual increase and is almost a 99% monthly rise from November’s $15.3 million.
As a result of the big handle, the three casinos made $4.8 million in sports betting revenue, the highest mark throughout last year.
80% of Detroit casinos’ total AGR in FY 2023 came from slots
According to a release from the Michigan Gaming Control Board, the total yearly aggregate revenue was $1.24 billion, a 3.1% annual decrease.
Here’s a breakdown of the total AGR the three Detroit casinos generated during last year:
- Slots: $984.1 million (80%)
- Table games: $238.7 million (19%)
- Retail sports betting: $14.0 million (1%)
With December figures wrapping up the year, the Detroit casinos recorded $1.22 billion in revenue from slots and table games in 2023. The number represents a 2.7% decrease from $1.26 billion in 2022.
It is very likely that, without the strike at the three Detroit casinos, gaming revenue would have exceeded 2022’s total. Therefore, Detroit casinos should feel good about the future and what 2024 has to offer.
