Detroit Casinos Celebrate $116.2M Revenue Boost in December 2023

Detroit Casinos Hit Jackpot with Impressive December Revenue

In a remarkable financial upturn, Detroit’s three casinos collectively raked in $116.2 million in December 2023, according to data from the Michigan Gaming Control Board. This marked a substantial 46.6% increase from November’s earnings, with table games and slots contributing a hefty $111.4 million, and retail sports betting adding another $4.8 million.

A Flourishing End to the Year for Detroit’s Gaming Sector

December’s revenue boost not only exceeded the previous month’s figures but also showed a 2.9% year-over-year increase compared to December 2022. The revenue distribution among the casinos was led by MGM Grand Detroit Casino with a 44% market share, followed by MotorCity Casino at 32%, and Hollywood Casino at Greektown capturing 24%.

Casinos’ Annual Performance and Tax Contributions

Reflecting on the entire year, from January 1 through December 31, Detroit’s casinos experienced a slight 2.7% dip in table games and slots revenue compared to the previous year. MGM Grand Detroit reported a minor 0.7% decrease in annual gaming revenue, while MotorCity and Hollywood Casino at Greektown saw increases of 5.1% and 7.7%, respectively.

Significant Tax Contributions to State and City

In December 2023, the casinos collectively paid $9 million in gaming taxes to the State of Michigan, a slight increase from the $8.8 million paid in the same month last year. Additionally, they contributed $13.8 million in wagering taxes and development agreement payments to the City of Detroit.

Strong Performance in Retail Sports Betting

The retail sports betting sector in Detroit also showed promising figures, with a total of $30.4 million in bets placed in December. This led to gross receipts of $4.8 million. The qualified adjusted gross receipts (QAGR) for retail sports betting in December 2023 were significantly up by $3.1 million compared to December 2022 and saw a 54.9% increase from November 2023.

A Prosperous Outlook for Detroit’s Casino Industry

As Detroit’s casino industry wraps up a successful month and year, it continues to demonstrate resilience and growth potential. With strong performances in both traditional casino gaming and emerging sectors like sports betting, Detroit remains a dynamic player in the national gaming landscape.