Detroit’s three casinos have reported monthly aggregate revenue for November of $79.1m, a month in which many casino workers concluded their striking action.
The Michigan Gaming Control Board has revealed that November’s $79.1m is down significantly from the $101.8m declared during the same month the previous year, with a split of $76m generated from table games and slots, and $3.1m from retail sports betting.
The month’s revenue had also fallen in comparison to October’s $82.8m. Revenue market share was split amongst the city’s casinos as follows: MGM Grand Detroit – 39 per cent, MotorCity – 34 per cent, Hollywood Casino at Greektown – 27 per cent.
As previously mentioned, November was also the month in which casino workers who were part of a Detroit Casino Council union continued their striking action that began on October 17 until close to the end of the month.
2,100 employees across MotorCity and Hollywood Casino ended their strikes on November 19 after agreeing to a new labour deal. 1,700 MGM Grand employees continued striking until December 2.
November’s table games and slot revenue of $76m was down by 23.9 per cent year-over-year (November 2022: $99.9m) and seven per cent lower than the previous month (October: $81.7m).
Year to date through November 30, Detroit casinos’ table games and slots revenue has decreased by 3.2 per cent when compared to the same period last year.
Per casino, MGM is down 34.4 per cent YoY to $30.6m (2022: $46.7m), MotorCity fell by 17.8 per cent to $24.7m (2022: $30m) and Hollywood Casino has dropped by 10.8 per cent to $20.7m (2022: $23.2m).
The state of Michigan received $6.2m (2022: $8.1m) in gaming taxes from the three casinos during the month. $9.4m was submitted in wagering taxes and development agreement payments to the City of Detroit.
In retail sports betting, Detroit’s three casinos reported a November handle of $15.3m (2022: $18.1m) and total gross receipts of $3.1m (2022: $1.9m).
MotorCity earned the most in gross receipts with $2.2m, followed by Hollywood Casino with $657,535 and MGM with $230,847. The casinos also paid $116,769 in state gaming taxes and submitted $142,718 in wagering taxes to the City of Detroit.
During October, fantasy contest operators earned total adjusted revenues of $2.7m and paid $229,544 in taxes. Year to date through October 31, fantasy operators have reported $19.5m in revenue and paid $1.6m in taxes.
