Detroit Casinos Report $108.4M Revenue in Nov 2024
### Key Takeaways
The three casinos in Detroit generated a total revenue of $108.4 million in November. The majority of the revenue came from slot machines and table games, while sports betting also showed growth. Compared to the previous year, revenue from table games and slots increased by 40.1%. MGM Grand Detroit remains the market leader with a 46% share. The casinos also made significant tax contributions to the state and city.
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Strong Revenue from Slot Machines and Table Games
In November 2024, the three casinos in Detroit collectively generated $108.4 million. Of this, $106.4 million came from slot machines and table games, making up the largest portion of revenue. These figures demonstrate a strong recovery in the industry, particularly compared to the previous year. Revenue from these two segments rose by 40.1% compared to November 2022.
###
Sports Betting Shows Growth Potential
The retail sports betting sector also experienced growth. Total revenue from sports betting increased by $1.9 million. The “Qualified Adjusted Gross Receipts” (QAGR), which represents adjusted gross earnings, rose by $2.7 million compared to the previous month. However, QAGR was $1.2 million lower year-over-year.
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Hollywood Casino at Greektown led the market in this segment with a QAGR of $0.9 million. This highlights that sports betting remains an important yet volatile component of Detroit’s gaming market.
###
Market Shares of the Three Operators
The market shares of Detroit’s three casinos are distributed as follows:
– **MGM Grand Detroit**: 46% market share, revenue of $49.2 million.
– **MotorCity Casino**: 31% market share, revenue of $33 million.
– **Hollywood Casino at Greektown**: 23% market share, revenue of $24.2 million.
MGM Grand Detroit remains the clear market leader and has further solidified its position. MotorCity and Hollywood Casino follow at a significant distance.
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Significant Tax Contributions
The casinos not only entertained players but also made substantial contributions to public finances. Collectively, the three operators paid:
– **$8.6 million** in state gaming taxes.
– **$13.2 million** in wagering taxes and development fees to the City of Detroit.
These payments underscore the economic importance of the gaming industry to the region.
###
Our Assessment
The November 2024 figures indicate that Detroit’s gaming industry is on a stable growth trajectory. Particularly noteworthy is the increase in revenue from table games and slot machines compared to the previous year. While the sports betting segment shows fluctuations, it remains a key component of the market.
The tax contributions from the casinos further highlight their role as an economic driver for both the state and the city. MGM Grand Detroit has expanded its position as the market leader, while MotorCity and Hollywood Casino delivered solid results. Overall, Detroit remains a critical hub for the gaming industry in the United States.
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