Detroit’s three casinos saw a dip in revenue in June from both the previous month and from June 2021. However, Michigan gaming regulators noted that the second quarter of the year for casino revenue was up slightly over the second quarter of 2021.
The commercial casinos reported $98.6 million in monthly aggregate revenue in June, according to the Michigan Gaming Control Board. Retail sports betting produced $448,703 of that revenue.
Revenue Down in Monthly, Yearly Comparisons
In the month-to-month and year-over-year comparisons, revenue from table games and slot machines fell in June. Last month’s revenue of $98.2 million was down 7.6% compared with May ($106.27 million) and fell 7.2% from June 2021. However, table games and slots revenues were up 0.04% from the second quarter of 2021, and up 5.2% for the first six months of the year compared with the first half of last year.
Of course, the early part of 2021 was still being impacted by the COVID-19 pandemic, with retail casinos dealing with shutdowns and limitations that the Michigan online casino sites did not have to deal with.
For June 2022, the MGM casino was the revenue market leader with a 49% share ($48.3 million). MotorCity was second with a 34% share ($33.51 million). Hollywood Casino at Greektown was third at a 17% share ($16.35 million). Among the three, MGM saw an increase of 4.3% from June 2021; MotorCity was down 9.8%, and Hollywood Casino at Greektown was down 26.6%.
In terms of taxes for June, the three land-based casinos paid a combined $8 million to the state of Michigan and reported submitting $11.7 million in wagering taxes and development agreement payments to the City of Detroit.
The quarterly aggregate revenue, as mentioned above, was up 0.04% for the three Detroit casinos from the second quarter of 2021. The quarterly casino breakdown is: MGM, $155.1 million, up 14.3%; MotorCity, $104.5 million, down 9.3%, and Hollywood Casino at Greektown, $61.7 million, down 12.1%.
Retail Sports Betting Falls Slightly
For retail sports betting in June, the total handle was about $22.4 million (down 1.7% from the $22.7 million in May).
Retail sports betting qualified adjusted gross receipts (QAGR) were $448,703 in June, plummeting 81.2% from the $2.4 million reported in May, and down 80.5% compared with June 2021.
The Michigan online sports betting numbers for June will be released later this month.
Hollywood Casino at Greektown led the Detroit casinos in QAGR for the month at $305,023; MotorCity made $165,931 while MGM reported minus-$22,251.
The state received $17,802 in retail sports betting taxes from the three Detroit casinos, and $21,758 in retail sports betting taxes went to the City of Detroit.
In May 2022, fantasy contest operators had total adjusted revenues of $1.3 million and paid taxes of $112,964. Through May 31, fantasy contests accounted for $6.4 million in adjusted revenues and contributed $538,629 in taxes.
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