Michigan’s gambling regulator has reported another monthly revenue downfall through November, with Detroit’s three casino establishments falling 6.27 per cent to $101.8m (2021: $108.19m).
Breaking this figure down, table games and slots revenue came in at $99.9m, which is a decline of 3.96 per cent year on year and 0.79 per cent from the $103.86m and $100.7m reported one month and one year earlier, respectively. Retail sports betting produced $1.9m (2021: $4.33m).
MGM Grand Detroit retained its place at the top of the tree courtesy of a 3.3 per cent YoY drop to $46.7m (2021: $48.29m), which secured a 47 per cent market share.
Elsewhere, MotorCity Casino also declined, this time by 9.1 per cent to $30m (2021: $33.04m) that brought a 30 per cent share, however, Hollywood Casino at Greektown witnessed a 2.9 per cent uptick to $23.2m (2021: $22.53m) 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 0.6 per cent compared with the same period last year.
During October, the three casinos paid $8.1m in gaming taxes to the state, compared with $8.4m 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.
Furthermore retail sports betting monthly qualified adjusted gross receipts declined 50.7 per cent year-on-year to $1.9m (2021: $4.64m). Total handle was $18.13m (2021: 26.69m).
MGM once again led the way with QAGR of $807,913 (2021: $1.03m), followed by MotorCity’s $741,222 (2021: $1.47m) and Hollywood Casino’s $313,884 (2021: $1.82m). For the year-to-date, this is split $5.5m (2021: $8.15m), $5m (2021: $8.83m) and $6.7m (2021: $8.84m), respectively.
Taxes paid to the state was $70,422 compared with $163,625 paid in November 2021, while $86,071 was submitted in wagering taxes and development agreement payments to Detroit.
During October, fantasy contest operators reported total adjusted revenues of $1.8m (2021: $1.75m) and paid taxes of $147,693 (2021: $132,030).
Fantasy contest operators reported $13m (2021: $13.9m) in aggregate fantasy contest adjusted revenues and paid $1.1 (2021: $1.2m) in taxes during the first nine months of the year.
