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After a stellar December, Detroit casino revenue returned to earth in January.
Motor City’s casinos combined for $94.4 million in revenue from casino gaming and retail sports betting operations, down more than $20 million from December.
Year on year, revenue was down 9.5%.
MotorCity casinos hit hardest in January revenue decline
Detroit casinos saw their revenue dip 15.7%, which was the biggest single-month revenue slide in the past 12 months.
All three of the city’s casinos saw their casino revenue drop by millions. MotorCity Casino dropped around $7.5 million, while MGM Grand declined around $6 million and Hollywood Casino at Greektown slid around $4 million.
| Casino | January 2024 Revenue | December 2023 Revenue | % Change, Month-on-Month |
|---|---|---|---|
| MGM Grand Detroit | $44,553,303.61 | $50,605,390.89 | -11.96% |
| MotorCity Casino Hotel | $27,124,148.77 | $34,666,922.32 | -21.76% |
| Hollywood Casino at Greektown | $22,227,235.56 | $26,124,425.70 | -14.92% |
| Total | $93,904,687.94 | $111,396,738.91 | -15.70% |
Detroit sports betting revenue falls as Greektown goes negative
According to the January 2024 data from the Michigan Gaming Control Board, the three casinos felt the sting on the sports betting side, too.
None more than Greektown (ESPN Bet). The property had a fantastic December, posting its biggest handle ($10 million) and revenue ($2.2 million) totals in 2023. All that came crashing down in January.
Greektown’s handle fell to $9.1 million and its revenue plummeted around $3 million month-on-month to -$1 million. It was the only time in the past 12 months the casino posted negative revenue numbers. MotorCity’s (FanDuel) sports betting revenue fell around $2 million.
MGM Grand (BetMGM) was the lone bright spot last month, posting a roughly $110,000 increase in sports betting revenue compared to Detroit’s December 2023 gaming revenue.
Overall, Michigan’s retail casinos in Detroit totaled $24.2 million in handle and $500,221 in revenue, down around $6 million and $5.7 million, respectively. It’s possible that the Detroit Lions‘ loss to to the San Francisco 49ers accounted for some of the decline, as Lions fans no doubt put a lot of money on the team leading up to the game.
What’s ahead of Detroit casino revenue?
If 2023’s revenue totals are a guide for 2024, we should expect to see casino revenue bounce back.
Casino revenue crept up nearly $2 million from January to February in 2023. No matter what happens in February, March will cure all revenue ills. Bettors will flood Detroit casinos to gamble on March Madness matchups, bringing more revenue to slots and table games, too.
In 2023, casino revenue jumped $14 million from January to March, while sports betting revenue lept more than $1.3 million.
