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Detroit casinos report $94.4M in January revenue

Thursday 15 de February 2024 / 12:00

2 minutos de lectura

(Detroit).- The three Detroit casinos reported $94.4 million in monthly aggregate revenue (AGR) for the month of January 2024, of which $93.9 million was generated from table games and slots, and $500,221 from retail sports betting.

Detroit casinos report $94.4M in January revenue

The January market shares were:

  • MGM, 48%
  • MotorCity, 30%
  • Hollywood Casino at Greektown, 22%

Monthly Table Games, Slot Revenue, and Taxes
January 2024 table games and slot revenue decreased 9.1% when compared to January 2023 revenue. January’s monthly revenue was also 15.7% lower than December 2023. From Jan. 1 through Jan. 31, the Detroit casinos’ table games and slots revenue decreased by 9.1% compared to the same period last year.

The casinos’ monthly gaming revenue results were all lower compared to January 2023:

  • MGM, down 11.3% to $44.6 million
  • MotorCity, down by 10.4% to $27.1 million
  • Hollywood Casino at Greektown, down by 2.9% to $22.2 million

In January 2024, the three Detroit casinos paid $7.6 million in gaming taxes to the State of Michigan. They paid $8.4 million for the same month last year. The casinos also reported submitting $11.2 million in wagering taxes and development agreement payments to the City of Detroit in January.

Monthly Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $24.2 million in total retail sports betting handle, and total gross receipts were $520,988 for the month of January. Retail sports betting qualified adjusted gross receipts (QAGR) in January were up by $389,197 when compared to the same month last year. Compared to December 2023, January QAGR was down by $4.3 million.

January QAGR by casino was:

  • MGM: $403,926
  • MotorCity: $1.1 million
  • Hollywood Casino at Greektown: negative ($1.0 million)

During January, the casinos paid $58,073 in gaming taxes to the state, compared to $4,197 for the same period last year, and reported submitting $70,978 in wagering taxes to the City of Detroit based on their retail sports betting revenue.

Fantasy Contests
For December 2023, fantasy contest operators reported total adjusted revenues of $484,140 and paid taxes of $40,668.

From Jan. 1 through Dec. 31, 2023, fantasy contest operators reported $21.8 million in aggregate fantasy contest adjusted revenues and paid $1.8 million in taxes.


Tags: Sin tags

País: United States

Región: North America



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