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Detroit casino revenue down 8.8% 365 days-on-365 days.

Detroit casino revenue down 8.8% 365 days-on-365 days.

Detroit, Michigan’s three casinos recorded $94.4m (£75.2m/ €88.0m) in revenue for January.

This marked a dip of 8.8% from January 2023. In total, $93.9m came from desk video games and slots, while $500,221 was generated by retail sports activities betting.

The final revenue also fell month-on-month, trickling down by 18.8% from Detroit’s December portray.

In phrases of market share, MGM held forty eight% in January. MotorCity held 30%, while Hollywood Casino at Greektown took up 22%.

Desk video games and slots revenue

revenue from desk video games and slots particularly, it fell by 9.1% in contrast to January 2023 and 15.7% from December 2023.

Detroit’s casinos also recorded drops in gaming revenue 365 days-on-365 days. Revenue at MGM decreased by 11.3% in contrast to January 2023, while revenue at MotorCity dipped 10.4% to $27.1m. Hollywood Casino at Greektown recorded a dip of 2.0% to $22.2m.

Issues had been identical when taking a gape on the month-on-month comparisons. MGM gaming revenue fell 11.8% and MotorCity gaming revenue declined 21.9% in contrast to December 2023. Revenue at Hollywood Casino at Greektown also fell by 14.9%.

One day of January 2024, the casinos paid $7.6m in taxes to Michigan insist. In January 2023, this was $8.4m, representing a 9.5% decrease. To the Metropolis of Detroit, the casinos paid $11.2m in wagering taxes and pattern agreement funds.

Sports betting tackle sinks in January

Whole retail sports activities betting tackle for the month totalled at $24.2m, marking but another month-to-month decline – this time, of 20.4%. Scandalous receipts for January had been $520,988.

And while retail sports activities betting unswerving adjusted unfriendly receipts (QAGR) increased by $389,197 365 days-on-365 days, it declined by $4.3m in contrast to December 2023.

QAGR by casino, MotorCity generated $1.1m of the total, with MGM bringing up the rear with $403,926. Hollywood Casino at Greektown managed a loss in this segment, totalling destructive $1m.

For sports activities betting, the casinos paid $58,073 in gaming taxes to Michigan insist – a staggering $fifty three,876, better than what was paid in January 2023. Moreover they paid $70,978 in wagering taxes to the Metropolis of Detroit.

Detroit’s January portray vital that memoir contest operators reported total adjusted revenues of $484,140 in December 2023, and paid $40,668 in taxes.

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