Despite an increase in sports betting, Detroit casinos' May revenue slightly decreased.

Despite an increase in sports betting, Detroit casinos' May revenue slightly decreased.

 Despite a dramatic increase in sports betting revenue, May revenue at Detroit's three commercial casinos fell 1.2% year over year.
 Detroit  March's total income from Penn National's Hollywood Casino at Greektown, MGM Grand Detroit, and MotorCity Casino was $108.7 million (£86.4 million/€101.7 million), which was 8.4% less than the $118.7 million earned in April of this year and less than the $110.0 million earned in May 2021.

 With a 46% market share, MGM maintained its lead in Detroit, surpassing both MotorCity (32%), and Hollywood (22%).

 The total revenue from table games and slots was $106.3 million, which was 9.1% less than April of this year and 1.5% less than the same month last year.

 While Hollywood's revenue dropped 8.0% to $21.7 million and MotorCity's revenue fell 9.5% to $34.6 million, MGM reported an 8.3% year-over-year rise in table games and slots revenue to $50.0 million.

 In addition to $12.6 million in wagering taxes and development agreement payments to the city of Detroit, the casinos paid $8.6 million in gaming taxes for the month.

 Moving on to retail sports betting, qualified adjusted gross receipts (QAGR) increased by 27.7% from April to $2.4 million, a 36.6% year-over-year increase.  Over the course of the month, consumers wagered $22.8 million on sports wagers.

 With $1.6 million in QAGR, Hollywood was the market leader in sports betting, much ahead of MotorCity ($575,469) and MGM ($220,028).

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