Detroit’s three commercial casinos had their best year for annual revenue in five years, thanks to a strong final quarter. Including $109.3 million for December’s total, that brings the commercial casinos to a combined total of $1.28 billion for 2024. The last time they made more money in a year was 2019 ($1.45 billion) —not coincidentally, the year before the disruptions caused by COVID-19.
The retail industry has had its fair share of hurdles to clear over the years, with the pandemic and a casino strike being the two most notable. Still, the vertical appears to be stabilizing, and the last few months have been strong.
Revenue totals are still slightly down from pre-pandemic totals. However, 2024 can be seen as an encouraging year for Detroit properties.
Detroit casinos slowly rebounded in 2024
All three properties got off to an alarmingly slow start for the year when they recorded just $93.9 million in January earnings. It was the industry’s worst month outside of those directly impacted by a pandemic or strike since June 2005 ($92.6 million).
The facilities bounced back throughout the rest of 2024. It did not drop below $100 million in revenue again in a single month. The year was highlighted by March’s $122.3 million total.
2024 certainly won’t stack up to the 2019, however, it is certainly encouraging to see that revenue was higher than 2022, which was only relatively clean year since opening from the pandemic. In 2021, casinos operated at a capacity limit the first few months because of restrictions still in place.
The graph slows slight decreases in each year since the pandemic, before an increase in 2024.
December was the fourth-best month of 2024
The holiday season is typically a good month for Detroit casinos. December’s output was fourth this past year. The top four months, in terms of revenue, include:
- March: $122.3 million
- May: $111.3 million
- August: $110.8 million
- December: $109.3 million
Back in 2021, December was also the fourth-best month of that year. In 2022, it was the third-best month. However, in 2019, December was the second-best month, coming in at $127.8 million.
MGM Grand Detroit sees largest MoM increase
MGM Grand Detroit is the unquestioned leader of the other two properties in Detroit. Overall, the casino posted $603.7 million in 2024. MotorCity Casino produced $385.9 million while Hollywood Casino at Greektown reported $292.9 million.
MotorCity Casino experienced the only month-over-month drop. December’s statistics are as follows:
- MGM Grand Detroit: $51.2 million, up 4% from November ($49.2 million)
- MotorCity Casino: $33 million, down 0.3% from November ($33.1 million)
- Hollywood Casino at Greektown: $25.1 million, up 3.7% from November ($24.2 million)
Here are each property’s increase or decrease since 2022, the only year without pandemic restrictions or a strike since 2019.
- MGM Grand Detroit: 0.6% increase
- MotorCity Casino: 2.7% decrease
- Hollywood Casino at Greektown: 12.4% increase
Hollywood Casino at Greektown leads properties in retail sports betting handle
Despite MotorCity’s strong push towards the end of the year, Hollywood Casino at Greektown finished 2024 with the highest amount of sports betting handle at $75.7 million. MotorCity Casino generated $70.2 million as MGM Grand Detroit came in at $44.8 million.
Over the last three months, MotorCity Casino out-paced Hollywood Casino at Greektown in handle:
Monthly Handle | MotorCity | Hollywood |
---|---|---|
October | $11.1 million | $6.6 million |
November | $8.4 million | $7.5 million |
December | $9.8 million | $5.3 million |
Total | $29.3 million | $19.4 million |
In September, the start of football season, Hollywood Casino at Greektown generated $9.7 million in handle compared to MotorCity’s $7.6 million.
Handle for December reached $19.8 million, which is the lowest total since the football season. It brought yearly handle up to $190.7 million. That beat 2023’s total, however, fell extremely short of 2022’s figure of $263.7 million.