The three commercial casinos in Detroit, Michigan, collectively reported a remarkable $1.29 billion in total revenue for the year 2024, marking a solid recovery in the aftermath of the disruptions caused by the pandemic. This strong performance for the year is largely attributed to a particularly strong fourth quarter, as well as ongoing stabilization within the retail gaming sector. With a combination of strategic growth and improved monthly performances, Detroit’s casino operators ended 2024 on a high note, even as the overall total still lags behind pre-pandemic records.
Revenue breakdown and market share:
Breaking down the revenue sources, slot machines were by far the dominant revenue generator, contributing 79.8% of the total at $1.03 billion. Table games followed with $250.96 million, accounting for 19.4%. Retail sports betting, while still a growing segment, brought in $9.7 million, representing just 0.8% of the total revenue.
In terms of market share, MGM Grand Detroit led the pack with 47% of the market, followed by MotorCity Casino with 30%, and Hollywood Casino at Greektown with 23%. These figures reflect a shift in the competitive dynamics of the city’s casino industry, with MGM maintaining a significant lead, while the other two properties compete closely for second place.
In December 2024, the combined revenue for Detroit’s casinos totaled $109.6 million, a slight month-over-month increase of 2.7% from November. This December figure was also a 1.9% decline compared to December 2023, though it marked the fourth-best month of the year. Notably, December’s numbers helped solidify the casinos’ position for a strong end to the year. The top months of 2024 included March ($122.3 million), May ($111.3 million), and August ($110.8 million), with December securing its spot just behind those standout months.
Among the three casinos, MGM Grand Detroit saw the most significant month-over-month growth, with a 4% increase from November. This brought MGM’s December total to $51.2 million. MotorCity Casino, on the other hand, posted a slight decrease of 0.3%, earning $33 million in December. Hollywood Casino at Greektown reported $25.1 million, reflecting a 3.7% improvement from the previous month.
Quarterly and annual gaming tax contributions:
Throughout the final quarter of 2024, Detroit’s casinos saw a marked improvement in their financial performance, with total quarterly revenue up 18.7% compared to the same period in 2023. MGM Grand Detroit led this surge with a quarterly total of $149.9 million, a 26.4% increase from the fourth quarter of the previous year. MotorCity Casino and Hollywood Casino at Greektown reported increases of 15.9% and 8.5%, respectively.
According to Michigan Gaming Control Board, for the fourth quarter of 2024, the casinos paid $25.9 million in gaming taxes to the state of Michigan, marking a significant increase over the $21.8 million paid during the same quarter of 2023.
Despite a strong showing in overall casino revenue, retail sports betting saw a significant downturn in 2024, especially in the final months of the year. The Detroit casinos reported just $279,649 in gross receipts from retail sports betting for December, a stark 94.2% drop compared to December 2023. When compared to November 2024, the figures were down by 85.6%.
December’s individual casino results in sports betting were mixed. MGM reported a negative adjusted gross receipt (AGR) of -$154,514, while MotorCity earned $342,638, and Hollywood Casino at Greektown earned $88,385. Overall, the three casinos paid $16,293 in gaming taxes on their sports betting activities and submitted $19,913 in wagering taxes to the City of Detroit.
For the year, total retail sports betting AGR came in at $9.7 million, a 30.6% decrease from 2023. The casinos’ market shares in this segment were divided as follows: MGM with $2.8 million, MotorCity with $4.0 million, and Hollywood Casino at Greektown with $2.9 million.
In addition to their gaming revenues, the three Detroit casinos also benefit from the state’s fantasy contest market. For the month of November 2024, fantasy contest operators reported total adjusted revenues of $1.2 million, with taxes of $100,486. For the year to date (through November 30), fantasy contest operators reported total adjusted revenues of $8.5 million and contributed $713,587 in taxes to the state.
