The Michigan Gaming Control Board has issued a fresh release with the results of Detroit’s three casinos in July. Excluding sports betting, the combined revenue totaled $106.7 million. This indicates a gradual return of the market’s financial performance to pre-pandemic statistics.
In the first seven months of 2023, the three casinos received over $749 million in revenue. A year earlier, the amount for the same period was more than 6 million dollars less. In 2021, when strict COVID-19 restrictions were in place, the total revenue was $28 million lower.
Hollywood Casino in Greektown was the only one whose monthly revenue was up 27.5% from last July, totaling $25.3 million. This offset the more modest results of its competitors, whose combined revenue grew by less than $1 million.
As for the market share, the leader of the month was MGM Grand Detroit casino: 47%, revenue – 50 million dollars. It was followed by MotorCity gambling establishment with 29% and 31.4 million dollars. Thus, the performance of MGM and MotorCity for the year decreased by 2.4% and 10% respectively.
- It is expected that the total revenue of Detroit casinos for 2023 could be $1.28 billion. That’s less than the $1.45 billion earned in 2019, but significantly better than the results of the past three years.
Positive financial results for July were achieved thanks to slot machines and table games. Total revenue from sports betting amounted to $485,763. This figure is higher than in June, but only because a visitor won $972,000 at MotorCity last month.
Meanwhile, Turning Stone Resort Casino has been voted the best in New York City for the eighth consecutive year.
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