The three Detroit casinos combined for $101.5 million in revenue for the month of June, according to a statement from the Michigan Gaming Control Board on Tuesday.
That’s despite the city’s three retail sportsbooks combining to net a $395K loss of adjusted gross revenue, almost entirely coming from a single bet at MotorCity Casino.
Revenue from table games and slots ($101.9 million) at the Detroit casinos was up 3.8% compared to the same month in 2022. For the year, table games and slots revenue is up nearly one percentage point at 0.9%.
MGM Grand leads Detroit casinos in revenue again
MGM Grand Detroit continues to be the market leader, capturing 46% of the revenue from casino games in June. Next was MotorCity Casino with 32%, and Hollywood Casino at Greektown at 22%. Their revenue dollar figures were 47.0 million for MGM, $32.5 million for MotorCity, and 22.4 million for Hollywood Casino.
The trio of Detroit casinos paid $8.3 million to the state in taxes from gaming activity, and $12.1 million to the city of Detroit.
This month, the casinos offered many promotions for July 4th, which could lead to a rebound and larger growth as opposed to June. Overall in 2023, revenue from the three Detroit casinos is mirroring last year’s pace through five months.
$972,000 winner sends Detroit retail sportsbooks to loss
One big winner at MotorCity Casino caused that venue to go into the negative for the month. A $972,000 winning betting slip sent MotorCity to a $708,625 loss for the month of June. As a result, the three casinos were a negative for the month.
MGM Grand’s sportsbook, branded as BetMGM, reported a June figure of $30,010. Greektown had the best month with $283,009 last month. The three casinos sent $11,832 in taxes to Lansing, and $14,462 was paid to Detroit.
Total retail sports betting handle from the three Detroit casinos in June was $8.1 million, and total gross receipts were in the red, at negative $378,641. Retail sports betting handle was down 63% from June 2022.
FanDuel is the retail sportsbook that operates in MotorCity Casino, and Barstool Sportsbook operates at Greektown.
Fantasy contests have generated $10.8 million since Jan. 1
The state reports fantasy contest results more than a month behind schedule, which means we received data for May this week. According to the MGCB, the fantasy operators at the Detroit casinos reported a total adjusted revenue of $1.9 million. That activity resulted in $155,539 which is about six times the amount that came from retail sportsbooks at the casinos.
Since the first of the year, the fantasy contests have generated $10.8 million in aggregate revenue, resulting in $903,369 in taxes for the state of Michigan.