Reports

Casinos in Detroit report $101.98M in September revenue

Wednesday 09 de October 2024 / 12:00

www.michigan.gov

⏱ 1 min read

(Detroit).- The three Detroit casinos reported $101.98 million in monthly aggregate revenue (AGR) for the month of September 2024, of which $101.23 million was generated from table games and slots, and $755,519 from retail sports betting.

Casinos in Detroit report $101.98M in September revenue

The September market shares were:

MGM, 47%
MotorCity, 31%
Hollywood Casino at Greektown, 22%

Monthly Table Games, Slot Revenue, and Taxes
The casinos’ revenue for table games and slots for the month of September 2024 increased 1.2% when compared to the same month last year. September’s monthly revenue was 8.6% lower when compared to the previous month, August 2024. From Jan. 1 through Sept. 30, the Detroit casinos’ table games and slots revenue increased by 1.0% compared to the same period last year.

The casinos’ monthly gaming revenue results were mixed compared to September 2023:

MGM, up 6.6% to $47.68 million
MotorCity, up 0.5% to $31.17 million
Hollywood Casino at Greektown, down 7.8% to $22.38 million

In September 2024, the three Detroit casinos paid $8.2 million in gaming taxes to the State of Michigan. They paid $8.1 million for the same month last year. The casinos also reported submitting $12.5 million in wagering taxes and development agreement payments to the City of Detroit in September.

Monthly Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $22.02 million in total retail sports betting handle, and total gross receipts were $771,751 for the month of September. Retail sports betting qualified adjusted gross receipts (QAGR) were down by 52.0% in September when compared to September 2023, and down by 55.4% when compared to August 2024.

September QAGR by casino was:

MGM: $601,794
MotorCity: $11,817
Hollywood Casino at Greektown: $141,908

During September, the casinos paid $28,559 in gaming taxes to the state and reported submitting $34,905 in wagering taxes to the City of Detroit based on their retail sports betting revenue.

Fantasy Contests
For August 2024, fantasy contest operators reported total adjusted revenues of $613,448 and paid taxes of $51,530.

Categoría:Reports

Tags: Sin tags

País: United States

Región: North America

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