Game Types Bonuses Slots More
Online Casinos Poker Bingo Games Lotteries Sports & Racebooks Fantasy Sports Forex Betting Exchanges Spread Betting Binary Options Live Dealers
Weekly Newsletter Online Gaming News Payment Methods Gaming Software Gaming Site Owners Gaming Jurisdictions Edit Preferences Search
 
Bonuses! New games! Gossip! And all the player news you can handle. Sign up NOW!

Related Links

Michigan's slot and table games revenue drops in January 2024

13 Feb 2024

(PRESS RELEASE) -- The three Detroit casinos reported $94.4 million in monthly aggregate revenue for the month of January 2024, of which $93.9 million was generated from table games and slots, and $500,221 from retail sports betting.

The January market shares were:

- MGM Grand Detroit Casino, 48%
- MotorCity Casino, 30%
- Hollywood Casino at Greektown, 22%

Monthly Table Games, Slot Revenue, and Taxes
January 2024 table games and slot revenue decreased 9.1% when compared to January 2023 revenue. January’s monthly revenue was also 15.7% lower than December 2023. From 1 January through 31 January, the Detroit casinos’ table games and slots revenue decreased by 9.1% compared to the same period last year.

The casinos’ monthly gaming revenue results were all lower compared to January 2023:

- MGM, down 11.3% to $44.6 million
- MotorCity, down by 10.4% to $27.1 million
- Hollywood Casino at Greektown, down by 2.9% to $22.2 million

In January 2024, the three Detroit casinos paid $7.6 million in gaming taxes to the State of Michigan. They paid $8.4 million for the same month last year. The casinos also reported submitting $11.2 million in wagering taxes and development agreement payments to the City of Detroit in January.

Monthly Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $24.2 million in total retail sports betting handle, and total gross receipts were $520,988 for the month of January. Retail sports betting qualified adjusted gross receipts in January were up by $389,197 when compared to the same month last year. Compared to December 2023, January QAGR was down by $4.3 million.

January QAGR by casino was:

- MGM: $403,926
- MotorCity: $1.1 million
- Hollywood Casino at Greektown: negative ($1.0 million)

During January, the casinos paid $58,073 in gaming taxes to the state, compared to $4,197 for the same period last year, and reported submitting $70,978 in wagering taxes to the City of Detroit based on their retail sports betting revenue.

Fantasy Contests
For December 2023, fantasy contest operators reported total adjusted revenues of $484,140 and paid taxes of $40,668.

From 1 January through 31 December 2023, fantasy contest operators reported $21.8 million in aggregate fantasy contest adjusted revenues and paid $1.8 million in taxes.
 
About Us | Advertising | Publications | Land Casinos