Michigan’s three commercial casinos experienced a slight month-over-month revenue decline in September. However, the Detroit casinos were relatively flat compared to September 2023.
According to numbers released by the Michigan Gaming Control Board, the properties generated gross revenue totaling $101.98 million.
These numbers represent an 8.6% dip from August’s numbers but a 1% increase from the same timeframe last year.
Detroit casinos comprise just a small percentage of Michigan’s larger casino industry. Most of the state’s casinos are tribal entities and are not beholden to state regulators. Furthermore, regulators will release Michigan online casino revenue next week.
MGM garners majority of market share
Of the total pie, MGM Grand Detroit took nearly half of it. The MGM-owned property grossed $47.68 million, 47% of the city’s casino market share.
Additionally, MGM was the only property to experience significant year-over-year revenue growth, up 6.6% compared to last year.
On the other hand, MotorCity Casino was roughly flat, up 0.5%, while Hollywood Casino at Greektown was down 7.8%.
Detroit casinos September revenue
| Property | Adjusted Gross Revenue | Taxes Paid | Year-Over-Year % Change |
|---|---|---|---|
| MGM Grand Detroit | $47.7 Million | $3.9 Million | 6.6% |
| MotorCity Casino | $31.2 Million | $2.5 Million | 0.5% |
| Hollywood Casino at Greektown | $22.4 Million | $1.8 Million | -7.8% |
| Totals | $101.2 Million | $8.2 Million | 1% |
Retail sportsbooks have second-biggest month of 2024
Like in any market, nearly all of the money wagered on sports is placed online. However, the gamblers wagering at retail operations came out in droves in September.
Michigan bettors wagered a total of $22.02 million at retail operations. Only January saw a larger handle when Michiganders bet $24.2 million.
The sportsbooks netted $771,751, but adjusted gross revenue totaled $755,517.
However, the sportsbook that handled the least money won the most.
| Sportsbook | Handle | Revenue | Hold Percentage |
|---|---|---|---|
| MGM Grand | $4.67 Million | $601,793 | 12.8% |
| MotorCity | $7.61 Million | $11,817 | 0.1% |
| Hollywood at Greektown | $9.74 Million | $141,907 | 1.4% |
| Totals | $22.02 Million | $755,517 | 3.4% |
Despite handling just shy of $4.7 million, MGM Grand netted nearly 80% of the total retail revenue with $601,793 in adjusted gross revenue.
MotorCity Casino accepted $7.6 million in wagers but barely secured a profit. The property reported revenue totaling $11,817. Hollywood Casino at Greektown netted $141,907 from a $9.7 million handle.
Through the first nine months of 2024, Michigan retail sportsbooks handled $127.7 million.
