It was a good July for the trio of casinos inside the Motor City, with month-over-month gains in retail sports betting and casino play.
The overall retail sports betting handle for the three Detroit casinos was $18.860 million in July, dropping from the $22.4 million reported in June.
But in terms of adjusted gross receipts, the three gaming facilities reported $1.3 million, which represented a 3.7% rise from July 2021. July’s retail sports betting revenue climbed more than $800,000 at MGM Detroit, MotorCity Casino and Hollywood Casino at Greektown from June’s total of $448,703.
When it comes to retail sports betting market share, MGM Detroit and its BetMGM Sportsbook MI were the clear No. 1 with $807,710 in revenue, followed by MotorCity Casino ($238,320) and Greektown ($212,205).
Numbers for online Michigan sportsbooks will be released later this month.
As far as taxation in Detroit is concerned, the three facilities contributed $47,561 to Michigan’s coffers, with an additional $58,130 in retail sports betting wagering taxes and development agreement payments going to the city.
So far this year, Hollywood Casino at Greektown is still the No. 1 operator in the city, in terms of retail sports betting revenue, at $4.3 million, followed by MotorCity Casino and its FanDuel Sportsbook MI ($2.4 million), and MGM Casino ($2.3 million).
Detroit Casino Play Up in July
Retail sports betting wasn’t the only winner in July, however, as table games and slot revenues at the three casinos rose by 8.7% from June to $107.2 million.
The year-over-year figures for the three Detroit casinos represented an 8.4% decrease, though table games and slot revenue were up 3% compared to the first seven months of 2021.
Numbers for Michigan online casinos will be released later this month. In June, the state’s online casinos had $109.4 million in adjusted gross receipts, down 4.6% from May.
As far as market share is concerned, MGM Casino led the way at 48%, followed by MotorCity Casino (33%), and Hollywood Casino at Greektown (19%).
The three casinos chipped in $8.6 million in wagering taxes to the state and $12.6 million in wagering taxes and development agreement payments to the city during July.
MGCB Renews Detroit Casinos’ Licenses
The Michigan Gaming Control Board voted unanimously Tuesday to approve the one-year renewal of the licenses for the three Detroit casinos.
By law, three votes are required in support of final determinations of the board on applications for a casino license.
“A casino license is a privilege granted by the state of Michigan,” said Henry Williams, MGCB executive director, in a press release. “Board members and agency staff take seriously our responsibilities when reviewing this privilege each year as required by law.”
Michigan casino licenses are taxed at 18% (8.1% to the state and 9.9% to the city of Detroit) on adjusted gross receipts. The retail sports betting tax rate is 8.4%.