Connect with us

Casino

Detroit Casinos Celebrate $116.2M Revenue Boost in December 2023

Published

on


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.

Advertisement

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.

Jerome, a valuable addition to the Gamingo.News team, brings with him extensive journalistic experience in the iGaming sector. His interest in the industry was sparked during his college years when he participated in local poker tournaments, eventually leading to his exposure to the burgeoning world of online poker and casino rooms. Jerome now utilizes his accumulated knowledge to fuel his passion for journalism, providing the team with the latest online scoops.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Casino

Veikkaus Teams Up with Playtech to Elevate Live Casino Experience

Published

on


Revolutionising Live Casino Gaming: Veikkaus Partners with Playtech

In a groundbreaking move set to redefine the live casino gaming experience, Veikkaus, Finland’s state-owned gaming giant, has joined forces with Playtech, a leading iGaming content provider renowned for its cutting-edge live casino offerings. This strategic partnership heralds a new era of innovation and immersion in the Finnish iGaming market, promising players an unparalleled gaming adventure. Let’s delve into the details of this transformative collaboration and its implications for the future of live casino gaming in Finland.

Elevating the Live Casino Experience: A Strategic Alliance

Veikkaus and Playtech have embarked on a visionary collaboration aimed at enhancing the live casino landscape in Finland. With Playtech’s expertise in delivering premium live casino content and Veikkaus’ unparalleled market reach, this partnership sets the stage for a revolution in immersive gaming experiences.

A Long-Term Commitment to Innovation

This partnership isn’t just a short-term endeavour; it’s a strategic commitment to long-term innovation and growth. With an initial agreement spanning six years and the flexibility for renegotiation, Veikkaus and Playtech are poised to drive continuous evolution in the live casino sector, ensuring that Finnish players always have access to the latest and most thrilling gaming content.

Customised Gaming Solutions: Tailored for Finnish Players

Central to this collaboration is the creation of a bespoke, Veikkaus-branded studio that caters specifically to the preferences and expectations of Finnish players. This dedicated studio will feature Finnish-speaking live dealers, offering a personalised and authentic gaming experience across a diverse range of casino classics, including roulette and blackjack.

Advertisement

Embracing Innovation: Playtech’s Expertise in Action

Fredrik Sylvander, Commercial Director at Playtech, expressed enthusiasm for the partnership, emphasising Playtech’s commitment to delivering exceptional live casino experiences. By leveraging Playtech’s extensive network of live games and expertise, Veikkaus aims to elevate its offerings and provide players with unparalleled entertainment.

A Visionary Leap: Veikkaus’ Perspective

Riikka Seppänen, VP of iCasino at Veikkaus, echoed Sylvander’s sentiments, highlighting the meticulous selection process that led to Playtech’s appointment as a partner. With Playtech’s support, Veikkaus is poised to offer Finnish players an immersive and authentic gaming environment, setting new standards for excellence in the industry.

A Holistic Approach: Strengthening Player Protection

Beyond enhancing the gaming experience, Veikkaus remains steadfast in its commitment to player protection and responsible gaming. As part of its holistic approach to gaming, Veikkaus continues to prioritize initiatives aimed at promoting player well-being and ensuring a safe and secure gaming environment for all.

Driving Innovation Forward: A Look to the Future

As Veikkaus and Playtech forge ahead with their groundbreaking collaboration, the future of live casino gaming in Finland shines brighter than ever before. With a shared vision of innovation, excellence, and player-centricity, this partnership is poised to reshape the gaming landscape and deliver unparalleled entertainment to Finnish players for years to come.

Advertisement

Conclusion: The partnership between Veikkaus and Playtech marks a significant milestone in the evolution of live casino gaming in Finland. By combining their expertise and resources, these industry leaders are set to redefine the standards of excellence in the Finnish iGaming market, offering players an immersive, personalised, and unforgettable gaming experience. As the collaboration unfolds, the stage is set for a new era of innovation, excitement, and boundless possibilities in live casino gaming.

Continue Reading

Trending

Gamingo.News stands as a premier digital destination dedicated to delivering top-tier news and insights in the gaming and gambling industry. This specialized media outlet garners the attention of over 120,000 readers each month, providing them with engaging content, current news, and in-depth analyses.
The platform offers extensive coverage of various facets of the gaming world, including both online and brick-and-mortar gaming, wagering, esports, updates on regulations and compliance, as well as technological innovations. Regular content includes daily news stories, press releases, unique interviews, and comprehensive reports on events.
Moreover, Gamingo.News organizes webinars pertinent to the industry and offers detailed reports, establishing itself as a comprehensive information source for those interested in learning about gaming market operators, suppliers, regulators, and professional services. The portal's main objective is to keep its large audience informed about the latest news, trends, and developments in the gaming and gambling sectors. It focuses particularly on the European igaming market but also covers significant global news, proving to be an invaluable tool for gaming professionals, operators, and enthusiasts.

For inquiries, reach out at: sales@gamingo.news

For editorial or PR submissions, contact: media@gamingo.news

Copyright © 2024 Gamingo.News.