Detroit casino revenue was down in June

Detroit casino revenue was down in June

Revenue from the MGM Grand Detroit, MotorCity Casino and Penn National’s Hollywood Casino at Greektown was down from June of last year to June of this year.

MGM had a 49 percent share of the Michigan market, followed by MotorCity with 34% and Greektown with 17%.

Table games and slots were responsible for $98.2m of the total revenue for the month, but this was 7.2% lower than in June of last year.

MGM led this area of the market with a revenue increase of 4.3%. MotorCity’s revenue was down 9.8% to $33.5m, while Greektown’s revenue was down 26.6% to $16.4m.

The City of Detroit received $11.7 million worth of wagering taxes and development agreement payments from the three casinos.

In June of this year, retail sports betting and qualified adjusted gross receipts reached just $448,703, down 80.5% from the previous June.

The Hollywood Casino at Greektown held the top spot in this sector with $305,023, followed by MotorCity with $165,931 and MGM with $22,251.

In June, the casinos paid gaming taxes to the state of Michigan and wagering taxes to the City of Detroit.

Summary:

Revenue from the MGM Grand Detroit, MotorCity Casino and Penn National’s Hollywood Casino at Greektown was down from $108.1m in June 2021 and also 9.3% lower than $108.7m in May of this year. MGM retained top spot in the Michigan city with a 49% share of the market, ahead of MotorCity on 34% and Greektown with 17%.