Share
Michigan gaming revenue experienced a much-needed boost in June, according to the latest report from the Michigan Gaming Control Board (MGCB).
For the month, slot machine and table game revenue at three Michigan casinos in Detroit hit $101.9 million, up 3.8% from June 2022. For the first six months of the year, slot and table game revenue is up nearly one percentage point at 0.9%.
However, not all Michigan gaming is riding a high. Retail sports betting combined for a net $395,000 loss of adjusted gross revenue, primarily due to one lucky bettor.
MGM Grand continues leading all Detroit casinos
The three Detroit casinos, MGM Grand, MotorCity Casino and Hollywood Casino Greektown, paid $8.3 million in state taxes and $12.1 million to the city of Detroit. Overall, June’s monthly revenue dropped 2.7% compared to May.
MGM Grand continues its market dominance by capturing 46% of revenue from casino games in June. MotorCity was next with 32%, while Hollywood Casino brought up the rear with 22%.
- MGM Grand: $47 million in revenue
- MotorCity Casino: $32.5 million in revenue
- Hollywood Casino: $22.4 million
Retail sports betting takes a hit in June with one lucky winner
All it took was one lucky bettor to send MotorCity Casino into the negative for the month. A $972,000 winning sports bet put MotorCity in the hole for $708,625 in June. As a result, all three Michigan casinos were in the negative for the month.
Total retail sports betting handle for June was $8.1 million, while total gross receipts were in the red at negative $378,641. In addition, retail sports betting handle was down 63% compared to June 2022.
The three retail sportsbooks are:
- FanDuel Sportsbook – MotorCity Casino
- Barstool Sportsbook – Hollywood Casino Greektown
- BetMGM Sportsbook – MGM Grand Casino
On a smaller scale, daily fantasy sports data is a month behind. Thus, new data from the MGCB shows fantasy operators reported $1.9 million in adjusted revenue for May.
Since January, fantasy contests have generated $10.8 million in revenue, translating to over $900,000 in taxes for the Wolverine State.
