Detroits three commercial gambling houses produced a total income of $108.7 million in May, slightly less than the $110 million in May 2021 and down 8.4% from $118.7 million in April. Nevertheless, sports wagering earnings soared, counterbalancing the overall dip.
MGM Grand Detroit remains the leading player in the Detroit gambling market, capturing 46% of the market share, followed by MotorCity at 32% and Hollywood at 22%.
While table game and slot machine earnings decreased by 1.5% year-over-year, sports betting revenue surged by 36.6% to $2.4 million. Customers bet a total of $22.8 million on sports betting in May.
MGM’s revenue climbed by 8.3% to $50 million, despite a 9.5% and 8.0% decline in table game and slot machine revenue at MotorCity and Hollywood, respectively.
The gambling houses paid $8.6 million in gaming taxes in May, along with $12.6 million in wagering taxes and payments related to development agreements with the city of Detroit.
Detroit casino earnings decreased slightly in May, despite a surge in sports betting revenue – Land-based casinos – iGB
The entertainment industry giant, Hollywood, is a major force in the realm of sports wagering, generating significantly higher revenue compared to its casino counterparts. Their rapid expansion is evident in their quarterly earnings, averaging a substantial $1.6 million every three months. This figure dwarfs the earnings of MotorCity, which stands at $575,469, and MGM, which reports $220,028.
The three Detroit-based casinos collectively contributed $90,279 to the state’s coffers in May, as a result of gambling activities. Additionally, they remitted $110,341 to the city of Detroit in the form of taxes and associated fees.
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