Summary
- The bulk of earnings came from table games and slots.
- Retail sports betting generated just under $900,000.
- MGM Grand Detroit holds the market share at 47%.
In Michigan, the three casinos in Detroit are the only commercial gaming options. The MGM Grand Detroit, MotorCity Casino, and Hollywood Casino at Greektown are top choices for residents and visitors to the area.
The Michigan Gaming Control Board recently released the monthly revenue totals for the venues, with details on May earnings. For the month, the three venues were able to bring in just over $105 million. This is a slight decrease from May 2022, by around 2.9%.
Details of the Month
The Detroit casinos saw just over $104 million from slot machines and table games, while the sports betting retail sector brought in just over $893,000. The MGM Grand Detroit held the market share for May at 47%. MotorCity came in at 31%, followed by Hollywood Casino at 22%.
Slots and table game revenues were down in May by around 1.4%. The month-to-month total was also down by 4.5% when compared to April. It’s important to note that May is a busy month as the school session is ending and summer travel is beginning. The decrease in totals is not alarming but a sign of the season.
The Hollywood Casino was the only one to see an increase in earnings. Revenues were up 7.4%, with $23.2 million generated. MGM dropped by 14%, and MotorCity was down just over 7%. MGM brought in $49.3 million, and MotorCity came in with just over $32 million.
For the month, the casinos paid out $8.5 million in taxes. This was slightly lower than the $8.6 million paid in 2022.
Retail Sports Betting Sees Big Decrease
The Detroit venues also offer retail sports betting, with the industry significantly declining in May. The casinos generated $16.9 million in sports betting handle, with gross receipts totaling $921,268. Adjusted gross receipts were up by just over $773,000. The May qualified adjusted gross receipts were down by 62.6% when compared to May 2022.
MGM dropped to just over $470,000, while MotorCity hit $395,677. Hollywood came in on the low end at $27,545. Combined sports betting totals for all three casinos were $893,732. This was a huge decrease from April when $2.4 million was generated.
Along with sports betting, the state allows for fantasy contest wagering. This industry saw $2.1 million in adjusted revenues. The industry is doing quite well, with the year bringing in $8.9 million in adjusted revenues from January to the end of April.
About the Author
