Another month of good news, bad news for Detroit’s three casinos.
First, the good: The trio of casinos reported $107.2 million in monthly aggregate revenue for July, according to the Michigan Gaming Control Board. That marked an increase of nearly 8% from June’s disappointing numbers.
The bad? Revenue was down 8.4% compared to July 2021’s number, pointing to the possibility that online casinos are starting to eat into the brick-and-mortar world.
Overall market shares for the month had MGM leading the way at 48%, followed by MotorCity at 33% and Hollywood Casino at Greektown at 19%.
On the retail sports betting side, qualified adjusted gross receipts (QAGR) were up 3.8% year-over-year at $1.3 million, and up another $809,532 from June’s result. Total retail sports betting handle was $18.7 million, for a hold of nearly 7%. July QAGR totals by casino were: MGM, $807,710; MotorCity, $238,320; and Greektown, $212,205.
The state took in $47,561 in retail sports betting taxes from the three casinos, and the city of Detroit collected another $58,130.
Year-to-date, retail sports betting QAGR has Hollywood Casino at Greektown leading the charge at $4.3 million, followed by Motor City at $2.4 million and MGM at $2.3 million.
Tables and slots
On the table and slot side, revenue for the month was $105.9 million, and through the first seven months of the year, revenue was up 3%.
However, the July 2021 numbers were a lot stronger than the July 2022 numbers, and that was true across the board. MGM was down 4.7% to $51.2 million, MotorCity was down 9.6% to $34.8 million, and Hollywood Casino at Greektown was down 15% to $19.9 million.
The three casinos paid $8.6 million in taxes to the state in July from table and slot games, and another $12.6 million to the city of Detroit.
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