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May hasn’t been the best month for Michigan casinos.
The three Detroit properties – MGM, MotorCity and Hollywood Casino in Greektown – reported $105.6 million in monthly aggregate revenue during May.
The revenue figure is a 3.7% monthly decrease from April’s $109.7 million. It is also a yearly decrease of 2.9% from May 2022’s $108.7 million.
In terms of Michigan casino market share, May was very similar to April and March:
- MGM: 47% (an increase from 46% in April)
- MotorCity: 31% (an increase from 30% in April)
- Hollywood Casino at Greektown: 22% (a decrease from 24% in April)
Gambling revenue from table games and slots decreases in May
The Michigan Gaming Control Board (MGCB) report shows table games and slot machines in Detroit casinos generated $104.7 million in revenue.
Table game and slot revenue numbers dropped by 1.4% compared to May last year. On the bright side, the revenue from table games and slots showed a yearly increase of 0.4% compared to May 2022.
The casinos’ monthly gaming revenue results were diverse across the casinos compared to May last year:
- Hollywood Casino at Greektown: $23.3 million (7.4% YOY increase)
- MGM: $49.3 million (1.4% YOY decrease)
- MotorCity: $32.1 million (7.1% YOY decrease)
Detroit casino tax revenue decreases monthly and yearly
During May, the three Detroit casinos paid $8.5 million in taxes to the state of Michigan.
The figure represents a yearly decrease from the $8.6 million that the state collected at the same time last year. It is also a monthly drop from the $8.9 million in state taxes the casinos paid in April.
Detroit casinos reported submitting $12.5 million in betting taxes and development agreement payments to the City of Detroit in May.
In-person sports betting revenue shows monthly increase but a yearly decrease
The three Detroit casinos reported $16.9 million in bets at their physical sportsbooks. At the same time, $893,732 in revenue came from that activity.
Compared to April, in-person sports betting qualified adjusted gross receipts (QAGR) were up by $773,382. Meanwhile, May QAGR fell by 62.6% yearly.
During May, the casinos in Michigan paid $33,783 in taxes to the state and reported paying $41,290 based on their sportsbook revenue.
