Detroit Casino Revenue Drops 3.1% in 2023

The year 2023 witnessed a 3.1% decrease in revenue generated by the three commercial casinos in Detroit, Michigan. These casinos collectively brought in $1.24 billion, reflecting a challenging year for the industry in the city.

Slot machines were the primary revenue source for Detroit's land-based casinos in 2023, contributing $984.1 million, a slight increase from the previous year's $983.7 million. They accounted for a substantial 80.0% of the total revenue during the year.

In contrast, table games saw a notable 12.7% drop in revenue, amounting to $238.7 million. Retail sports betting, measured by adjusted gross receipts (QAGR), also faced a significant decline of 25.7%, reaching only $14.0 million.

MGM Grand Detroit maintained its dominance with a 46.0% market share. Despite a 6.0% decline, MGM reported $564.0 million in combined slots and table games revenue, along with $2.3 million from sports betting QAGR.

MotorCity Detroit secured the second spot with a 31.0% share, posting a 5.8% decrease in revenue, totaling $373.6 million. Meanwhile, the Hollywood Casino at Greektown, with a 23.0% share, reported increased revenue of $285.2 million for slots and table games, along with $5.0 million in sports wagering QAGR.

Collectively, the three Detroit casinos contributed $99.0 million in wagering taxes for slots and table games and an additional $528,314 in wagering taxes for retail sports betting.

In December 2023, the total market revenue saw a 5.7% increase, reaching $116.2 million. Table and slots revenue increased by 2.9% year-on-year, totaling $111.4 million. Sports betting QAGR skyrocketed by 200.0%, reaching $4.8 million.

MGM maintained a 44.0% market share in December, MotorCity at 32.0%, and the Hollywood Casino at 24.0%.

During December, the three Detroit casinos paid $9.0 million in gaming taxes to the state, alongside $13.8 million in wagering taxes and development agreement payments to the City of Detroit. Additionally, they contributed $180,822 in gaming taxes to the state related to sports betting, along with $221,005 in wagering taxes tied to sports betting revenue in the City of Detroit.