The Michigan Gaming Control Board (MGCB) has released data on the financial performance of Detroit’s three casinos in 2023. According to the report, the total monthly revenue for December was $116.2 million, with a total annual revenue of $1.237 billion for the year.

In December, $111.4 million of the total revenue came from table games and slots, while sports betting contributed $4.8 million. MGM led the market with a 44% share of the revenue, followed by MotorCity at 32% and Hollywood Casino at Greektown at 24%. MGM saw a slight decline of 0.7% compared to last year, while its competitors posted year-on-year increases in revenue.

The three casinos paid $9 million in gaming taxes to the state, as well as $13.8 million in wagering taxes and development agreement payments to the City of Detroit in December. However, the Q4 quarterly results were less favorable, with declines in revenue for all three casinos.

MGM’s quarterly revenue dropped by 17.7% to $118.6 million, while MotorCity and Hollywood Casino at Greektown also experienced declines of 11.6% and 4.7% respectively. Overall, the three casinos paid $21.8 million in gaming taxes for the quarter.

The total annual revenue of $1.237 billion represented a 3.1% decrease compared to the previous year, with a majority (80%) coming from slot games and 19% from table game operations. Retail sports betting only accounted for 1% of the market share.

MGM continued to dominate the market with 46% of the market share, while MotorCity and Hollywood Casino at Greektown held 31% and 23% respectively. The three casinos paid $99 million in wagering taxes for slots and table games, as well as $528,314 in wagering taxes for retail sports betting in 2023.

The MGCB also reported on fantasy contest revenues, indicating a total of $21.3 million and $1.8 million in taxes for the period from January 1 through November 30, 2023.

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