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Detroit casino revenue dips slightly in May despite sports betting growth

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Revenue at Detroit’s three commercial casino slipped 1.2% year-on-year in May despite a sharp increase in sports betting revenue.

Total revenue from MGM Grand Detroit, MotorCity Casino and Penn National’s Hollywood Casino at Greektown for the month was $108.7m (£86.4m/€101.7m), down from $110.0m in May 2021 and also 8.4% lower than $118.7m in April this year.

MGM retained top spot in Detroit with a 46% share of the market, ahead of MotorCity on 32% and Hollywood with 22%.

Total table games and slots revenue reached $106.3m, down 1.5% year-on-year and 9.1% from April this year.

MGM reported an 8.3% year-on-year increase in table games and slots revenue to $50.0m, though revenue at MotorCity was down 9.5% to $34.6m and Hollywood revenue declined 8.0% to $21.7m.

The casinos paid $8.6m in gaming taxes during the month, as well as $12.6m in wagering taxes and development agreement payments to the City of Detroit.

Turning to retail sports betting and qualified adjusted gross receipts (QAGR) was up 36.6% year-on-year to $2.4m, while this amount was also 27.7% higher than in April. Consumers wagered a total of $22.8m betting on sports during the month.

Hollywood led the way in sports betting with $1.6m in QAGR, some way ahead of MotorCity on $575,469, then MGM with $220,028.

The three Detroit casinos paid $90,279 in gaming taxes to the state in May and $110,341 in wagering taxes and development agreement payments to the City of Detroit.

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