The three major casinos in Detroit, Michigan, are experiencing their most successful year since 2019, with a combined slot and table game revenue of $644.7 million in the first half of 2024, according to an analysis by PlayMichigan. This figure marks a significant rebound from the pandemic years, although it still falls short of the $735.4 million achieved in the same period in 2019.

Post-pandemic recovery in full swing:

While the industry has shown resilience in bouncing back from the severe impacts of the pandemic, which saw widespread casino closures, Detroit’s casinos still have progress to make to reach their pre-pandemic heights. Traditionally, revenues would hover around or surpass $700 million from January through June.

As Play Michigan reports, data from the Michigan Gaming Control Board revealed that in June 2024, the Detroit casinos generated $104.6 million in revenue. This represents a 6% decline from May’s total of $111.3 million but a 2.6% increase from June 2023’s $101.9 million. Notably, June 2024 marked the highest June revenue since 2021, which saw $105.8 million.

A comparison of June revenues over the past four years illustrates the recovery trend:

– 2021: $105.8 million

– 2022: $98.2 million

– 2023: $101.9 million

– 2024: $104.6 million

Despite a sluggish start to the year, where January revenue was just $93.9 million—the lowest since June 2005 (excluding pandemic and strike-affected months)—the subsequent months showed consistent improvement:

– January: $93.9 million

– February: $104.8 million

– March: $122.3 million

– April: $107.9 million

– May: $111.3 million

– June: $104.6 million

MGM Grand Detroit leads the charge:

For the third consecutive year, MGM Grand Detroit has exceeded $300 million in revenue by mid-year, reaffirming its position as the largest casino in Detroit.

June has historically been a slower month for casino revenue, and 2024 followed this trend, with all three Detroit casinos reporting declines from May:

– MGM Grand Detroit: $48.7 million (down 6.2% from May’s $51.9 million)

– MotorCity Casino: $31.5 million (down 6.5% from May’s $33.7 million)

– Hollywood Casino at Greektown: $24.4 million (down 5% from May’s $25.7 million)

Despite a generally slow sports betting period, Hollywood Casino at Greektown outperformed its peers in June, maintaining a strong sports betting handle. The recently opened ESPN BET retail sportsbook at Greektown was a significant contributor.

The Detroit casinos reported $105.44 million in monthly aggregate revenue (AGR) for June 2024, with $104.55 million from table games and slots and $889,014 from retail sports betting. The revenue for table games and slots in June 2024 increased by 2.6% compared to June 2023. However, it was 6.1% lower than May 2024. From January to June, table games and slots revenue saw a 0.4% increase compared to the same period last year.

In June 2024, the Detroit casinos paid $8.5 million in gaming taxes to the State of Michigan, up from $8.3 million in June 2023. Additionally, they contributed $12.4 million in wagering taxes and development agreement payments to the City of Detroit.

According to the Michigan Gaming Control Board (MGCB), the three casinos reported an $8.4 million retail sports betting handle in June, with total gross receipts of $894,867. The Qualified Adjusted Gross Receipts (QAGR) for retail sports betting fell by 52.2% compared to May 2024.

The Detroit casino market is showing robust recovery signs, with 2024 marking the best year since 2019. Despite some monthly fluctuations, the overall trend indicates a resilient rebound from the pandemic’s challenges, supported by strong performances in both traditional gaming and sports betting sectors.