Detroit Casino Reports $107.2M
The three Detroit casinos reported $107.2 million in total monthly revenue for the month of July 2023, of which $106.7 million was generated from table games and slots and $477,543 from retail sports betting.
Here are the market shares for July:
- MGM Grand Detroit Casino 47%
- Motor City Casino 29%
- Hollywood Casino at Greek Town 24%
Table games and slots revenue and taxes
July table game and slot sales rose 4.8% compared to June 2023 results. Monthly sales in July were up 0.7% from July 2022. Sales of table games and slots at casinos rose 0.9% year-over-year from Jan. 1 to July 31.
Casino's monthly gaming revenue results were mixed compared to July 2022:
- Greigtown Hollywood Casino Up 27.5% To $25.3M
- MGM Down 2.4% To $50M
- Motor City, down 10.0% at $31.4 million
During July, three Detroit casinos paid $8.65 million in taxes to Michigan. They paid $8.58 million in the same month last year.
Casinos announced in July that they had submitted $12.7 million in out-of-pocket and development agreements to the city of Detroit.
Retail Sports Betting Earnings and Taxes
The three Detroit casinos had a total retail sports betting handling of $7.96 million and a total income of $485,763.
Retail Sports Betting Qualification Adjusted Total Receipts increased $868,951 compared to June 2023. QAGR IN JULY DECREASED 62.0% Y/Y.
QAGR by Casino July is as follows:
- - MGM: $121,017
- Motor City: negative ($40,723)
- Hollywood Casino At Greek Town: $397,249
During July, casinos reported paying a $19,590 game tax to the state and filing a $23,944 payout tax to the city of Detroit based on retail sports betting income.
a fantasy contest
In June, fantasy contest operators reported a total of $1.4 million in adjusted income and $117,117 in taxes.
From Jan. 1 to June 30, fantasy contest operators reported a total of $12.1 million in adjusted fantasy contest revenue and $1 million in taxes.