Detroit's casino revenue experienced a significant decline in January 2024, dropping by 8.8% compared to the same month last year. The state's casinos generated a total of $93.9 million from table games and slots, along with $500,221 from retail sports betting. The revenue figures also reflect a month-on-month decrease of 18.8% from December 2023.
In terms of market share for January, MGM Resorts International held 48%, MotorCity Casino captured 30%, and Hollywood Casino at Greektown accounted for 22%. Revenue from table games and slots decreased by 9.1% year-on-year and 15.7% from the prior month.
MGM's revenue fell by 11.3% compared to January 2023, while MotorCity reported a 10.4% decline, bringing its total to $27.1 million. Hollywood Casino at Greektown also saw a reduction of 2.0%, totaling $22.2 million.
Month-on-month, MGM's gaming revenue dropped 11.8%, and MotorCity's declined 21.9% from December 2023, with Hollywood Casino at Greektown reporting a decrease of 14.9%.
For January 2024, Detroit's casinos paid $7.6 million in taxes to the state of Michigan, down from $8.4 million the previous year, representing a 9.5% decrease. They contributed $11.2 million in wagering taxes and development payments to the city.
In retail sports betting, the total handle for January reached $24.2 million, reflecting a 20.4% drop. Gross receipts for the month amounted to $520,988. While adjusted gross receipts (QAGR) for retail sports betting rose by $389,197 year-on-year, they decreased by $4.3 million compared to December 2023. MotorCity generated $1.1 million in QAGR, while MGM contributed $403,926. Conversely, Hollywood Casino at Greektown reported a loss of $1 million in this segment.
Casinos paid $58,073 in gaming taxes for sports betting, substantially higher than the $4,197 paid in January 2023, along with $70,978 in wagering taxes to Detroit. Additionally, fantasy contest operators reported total adjusted revenues of $484,140 for December 2023, paying $40,668 in taxes.
