Casino

Detroit casinos report US$ 107.2 million in revenue for July

Wednesday 10 de August 2022 / 08:56

⏱ 1 min read

(Detroit).- Detroit's three casinos collectively reported $107.2 million in monthly revenue in July, according to numbers released Tuesday by the Michigan Gaming Control Board. Table games and slots generated $105.9 million in revenue, while retail sports betting generated $1.3 million. Online gambling revenues are reported separately by the state.

Detroit casinos report US$ 107.2 million in revenue for July

MGM Grand Detroit led with 48% market share, followed by MotorCity Casino Hotel with 33% and Hollywood Casino at Greektown with 19%.

The venues' revenue from table games and slots dropped 8.4% year-over-year, but rose 7.9% over June. Through the first seven months of the year, table games and slots revenue was up 3% over the same period last year, according to the MGCB.

MGM's table games and slots revenue was down 4.7% year-over-year to $51.2 million. MotorCity's was down 9.6% to $34.8 million. And Hollywood Casino at Greektown saw revenue fall 15% year-over-year to $19.9 million.

The casinos paid $8.6 million in wagering taxes to the state for the month, down from $9.4 million in July 2021. They submitted $12.6 million in wagering taxes and development agreement payments to the city.

On the retail sports betting side of the business, qualified adjusted gross receipts were up 3.8% year-over-year to $1.3 million. Results were up by $809,532 from June. The Detroit casinos reported a total retail sports betting handle of nearly $18.9 million.

The casinos paid $47,561 in taxes tied to retail sports betting to the state. They submitted $58,130 in retail sports betting wagering taxes and development agreement payments to the city for the month. Meanwhile, the gaming control board on Tuesday voted unanimously to approve a one-year renewal of the three casinos' licenses, according to a news release.

By Jordyn Grzelewski

Categoría:Casino

Tags: Sin tags

País: United States