October wasn’t particularly green for the three retail sportsbooks in Detroit, with qualified adjusted gross receipts (QAGR) coming in at $2.1 million, down 19.4% from September and another 20.8% when compared to last October’s results, according to the Michigan Gaming Control Board.
Handle was $23.5 million, meaning the revenue represented a 9% hold for the sportsbooks.
October QAGR totals by property were MGM, $711,959; Hollywood Casino at Greektown, $702,147; and MotorCity, $680,649.
State taxes from the sportsbooks at the Detroit casinos were $79,182, compared with $99,977 paid during October 2021. The three sportsbooks also paid out $96,778 in taxes to the city of Detroit last month.
Year-to-date QAGR for the trio of retail sportsbooks comes in at Greektown with $6.4 million, MGM with $4.7 million, and MotorCity with $4.3 million.
Tables and slots
On top of the $2.1 million in sports betting revenue, the three casinos brought in another $100.7 million in table and slots revenue. The total haul of $102.8 million was down almost 10% when compared to October 2021’s results. Revenue was down a fractional 0.1% compared to September’s numbers.
Compared with October 2021, Hollywood Casino at Greektown saw a tiny 0.3% increase in monthly gaming revenue to $21.9 million. Monthly gaming revenue fell for both MGM, down 11.9% to $46.4 million, and MotorCity Casino, down 12.3% to $32.4 million.
During October, the three Detroit casinos paid $8.2 million in gaming taxes to the state of Michigan compared with $9 million paid during the same month last year.
The three casinos reported submitting $12.4 million in wagering taxes and development agreement payments to Detroit during October.
Photo: Shutterstock
