Detroit’s three retail casinos continue to maintain steady revenue for 2023, remaining slightly ahead of 2022.
In August, the Michigan Gaming Control Board reports the three casinos combined to bring in $104.6 million in revenue from table games and slots.
While a 2% decrease from July’s total, the August number is still 0.1% higher than August of 2022 ($104.5 million).
Collectively, the three casinos sit at $853.7 million in revenue for the year from slots and table games. That’s 0.8% higher than the first eight months of 2022 ($847.2 million).
Hollywood Casino boost leading revenue charge
Though two of the three Detroit casinos are slightly down in revenue for 2023 compared to a year ago, it’s the improved performance of Hollywood Casino at Greektown that is making up the effort.
Through eight months of 2023, Hollywood Casino is at $194.8 million in revenue. That is 14.6% higher than it was a year ago at this time ($170 million). Hollywood Casino at Greektown brought in $24.4 million in August.
The $24.8 million yearly difference for Hollywood Casino is helping make up for the slight decline at MGM Grand Detroit and Motor City Casino.
MGM Grand Detroit still has a large lead in the revenue race of the three, coming in with $400.7 million for 2023 after $49.6 million in August. MGM Grand is down 1.7% on the year compared to 2022 ($407.5 million).
MotorCity Casino brought in $30.7 million in revenue for August to sit at $258.2 million for the year. MotorCity is down 4.7% overall from a year ago ($269.8 million).
The three casinos tallied $8.5 million state tax revenue for August and $16.5 million in city wagering tax.
Retail sports betting continues large decline
Sports betting at the three Detroit casinos continues to see big drops compared to a year ago.
In August, the three locations combined for just over $10 million in handle and $327,291 in revenue. The online handle is down 46% from August 2022, though up over $2 million from July.
Revenue in August was down 87.6% from a year ago, as August 2022 produced $2.6 million for the three casinos.
The three Detroit casinos have failed to record $1 million in sports betting revenue for five consecutive months and only one time in all of 2023.
Yearly totals aren’t any better. Through eighth months of 2023, retail sports betting handle is at $99.8 million. That’s 46.8% lower than it was at this point in 2022 ($187.4 million)
Retail sports betting revenue is at just $3.4 million in 2023, which is 68.4% lower than the $10.7 million it had at this point in 2022.
Breaking down August, MotorCity Casino actually made money for just the second time in five months at its retail sportsbook. It brought in $201,435 out of $2.8 million in handle. On the year, it still has lost just under $1 million.
Hollywood Casino at Greektown recorded the highest handle last month at $4.8 million, but that only led to $40,588 in revenue.
MGM Grand Detroit recorded $2.4 million in handle at its retail sportsbook, resulting in $85,269 in revenue.
