MGM Grand Detroit has maintained its place at the top of the Michigan gambling tree despite the region’s three land-based gaming establishments seeing revenue slip 10 per cent year-on-year through October to $103.4m (2021: $114.1m).
Breaking this figure down, table games and slots revenue came in at $100.7m, which is a decline of 9.6 per cent year on year and 0.1 per cent from the $100.8m reported one month earlier. Retail sports betting contributed $2.1m through the month.
The aforementioned venue saw revenue slip 11.9 per cent year-on-year through the month to close at $46.4m (2021: $52.7m), which secured a 46 per cent market share.
Elsewhere, MotorCity Casino also declined, this time by 12.3 per cent to $32.4m (2021: $36.9m) that brought a 32 per cent share, however, Hollywood Casino at Greektown witnessed a fractional 0.3 per cent uptick to $21.9m that delivered a 22 per cent slice.
The three casinos’ gaming revenue for table games and slots during the first 10 months of the year declined a fractional 0.3 per cent compared with the same period last year.
During October, the three casinos paid $8.2m in gaming taxes to the state, compared with $9m for the same period one year earlier. The trio also submitted $12.4m in wagering taxes and development agreement payments to the city of Detroit during the month.
Retail sports betting monthly qualified adjusted gross receipts declined 20.8 per cent year-on-year to $2.1m (2021: $2.64m), with that figure also representing a 19.4 per cent downfall from September’s $2.6m. Total handle was $23.54m (2021: $34.22m).
MGM once again led the way with QAGR of $711,959 (2021: $1.38m), followed by Hollywood Casino’s $702,147 (2021: $588,847) which leapfrogged MotorCity despite the property rising to $680,649 (2021: $671,009). For the year-to-date, this is split $4.7m, $6.4m and $4.3m, respectively.
Taxes paid to the state was $79,182 compared with $99,977 paid in October 2021, while $96,778 was submitted in wagering taxes and development agreement payments to Detroit.
During September, fantasy contest operators reported total adjusted revenues of $1.5m (2021: $1.57m) and paid taxes of $126,719 (2021: $132,030).
Fantasy contest operators reported $11.2m (2021: $11.9m) in aggregate fantasy contest adjusted revenues and paid $944,224 (2021: $1m) in taxes during the first nine months of the year.
