The financial performance of gambling establishments in Detroit has continued to show a downward trend in the tenth month of the year.
The Michigan Gaming Control Board has published data revealing that the combined earnings of the city’s three land-based gambling venues experienced a decrease compared to the same period in the previous year and the preceding month.
MGM Grand Detroit, MotorCity Casino, and Greektown Casino Hollywood reported a total income of $102.8 million for the month, representing a 10.0% decline from $114.1 million in October 2021 and a 0.7% decrease from $103.4 million in September.
The revenue generated from slot machines and table games in October amounted to $100.7 million, marking a 9.7% year-on-year decrease from $111.5 million in the previous year and a slight decrease from $100.8 million in September.
The remaining $2.1 million in revenue was attributed to Qualifying Adjusted Gross Receipts (QAGR) from retail sports betting at the casinos, reflecting a 19.2% decline from $2.6 million in both October 2021 and September.
The total amount wagered on sports betting for the month reached $34.2 million, representing a 31.3% decrease from the previous year but an increase of 27.1% from $18.5 million in September.
MGM continues to hold the top position in the market with a 46% share, followed by MotorCity at 32% and Hollywood Casino at 22%.
MGM’s revenue of $46.4 million was derived from slot machines and table games, with an additional $711,959 generated from sports betting QAGR.
MotorCity’s revenue was $32.
Michigans three gambling establishments reported a combined $4 million in income for September, with sports wagering contributing $680,649. Hollywood Casino generated $21.9 million in slot machine and table game earnings, with sports betting contributing $702,147.
The three casinos paid $8.2 million in gaming taxes to the state of Michigan and $12.4 million in gaming taxes and development agreement payments to the city of Detroit in September.
Furthermore, the venues paid $79,182 in retail sports betting taxes to the state of Michigan and $96,778 in retail sports betting taxes to the city of Detroit.
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