It was a down month for the trio of casinos in the Motor City in May, with declines in casino and table games, as well as retail Michigan sports betting handle.
The Michigan Gaming Control Board reported $108.7 million in monthly aggregate gaming revenue during the fifth month of the year, down 9.1% month-over-month to go with $22.8 million in sports betting handle.
The latter figure represented an 8% drop from $24.785 million in April. Gross sports betting receipts rose 28.3%, from $1.87 million to $2.4 million.
Of the three Detroit casinos, only MGM Grand Detroit had an increase in table games and slot revenues, climbing 8.3% to $50 million.
The other two facilities — MotorCity Casino (down 9.5% to $34.6 million) and Hollywood Casino at Greektown (down 8% to $21.7 million) — posted declines during the month of May in the same category.
Overall, MGM Grand Detroit grabbed 46% of market share in the city, followed by MotorCity Casino (32%) and Hollywood Casino at Greektown (22%).
In total, the Detroit casinos paid $12.6 million in taxes and development agreement payments to the city in May.
The three facilities also dished out $8.6 million in gaming taxes, down slightly from the $8.7 million paid out in May 2021.
Detroit Sports Betting Sees Mixed Results
Detroit’s three casino sportsbooks saw mixed results as far as revenue is concerned.
The good news for the trio was that gross receipts in May climbed 36.6%, year-over-year, and 27.7% compared to April’s figures.
Hollywood Casino at Greektown led the charge in that category, with $1,592,834 in receipts, followed by MotorCity Casino ($575,469) and MGM Grand’s BetMGM Sportsbook ($220,028).
The downside for the facilities in May was the overall sports betting handle in Detroit fell 8%, from $24.785 million to $22.8 million, speaking to the gradual decline in wagering seen each year after the end of March Madness. There was nearly $500 million in sports betting handle in Michigan in March.
The state’s sports betting handle fell below $400 million in April.
The three casinos paid out $110,341 in wagering taxes and development payments to Detroit in May, to go with $90,279 in taxes to the state, which was a sizable increase over the $66,096 the three paid in May 2021.
So far this year, Hollywood Casino at Greektown leads all Detroit casinos in aggregate retail sports betting adjusted gross receipts ($3.8 million), followed by MotorCity ($2 million), and MGM Grand ($1 million).