Revenue at Detroit’s three casinos took a downturn in September. Total aggregate revenue totaled $103.4 million, with table and slot games accounting for $100.8 million of that number. The table and slot revenue was off 3.5% from August, and down 5.7% when compared to last September.
Despite the gloomy numbers, table and slot revenue is still up a little less than 1% over the first nine months of the year compared to the first nine months of 2021. Worth noting, however: The state’s casinos were still under capacity restrictions in early 2021.
Compared with September 2021 results, monthly table games and slots revenue by property saw MGM up a few pennies to $48.4 million, MotorCity taking a 14.2% year-over-year tumble to $31.3 million, and Hollywood Casino at Greektown dropping 4.3% to $21.1 million.
For the month, the three Detroit casinos paid $8.2 million in gaming taxes to the state and another $12.5 million to the city of Detroit.
September capped a rough third quarter for the casinos, which saw aggregate revenue drop 7% from the third quarter last year. All three casinos took a hit, with MotorCity down 11.7%, Hollywood Casino at Greektown down 8.8%, and MGM down 2.9%.
Big hold
On the sports betting side, Michigan bettors placed $18.6 million in wagers, and the casinos’ gross revenue came to $2.6 million, for a robust 13.7% hold.
Qualified adjusted gross receipts (QAGR) were off nearly 25% compared to last September, but up over 56% when compared to August’s numbers. September QAGR by property: MGM, a shade over $1 million; MotorCity, $822,534; and Hollywood Casino at Greektown, $768,912.
The sportsbooks paid $98,257 to the state in taxes and another $120,091 to the city of Detroit.
Year to date through Sept. 30, aggregate retail sports betting QAGR comes out to $5.7 million for Hollywood Casino at Greektown, $4 million for MGM, and $3.6 million for MotorCity.
Photo: Shutterstock
