Detroit Casinos Report $79.1 Million in November Aggregate Revenue
According to the November revenues released by the Michigan Gaming Control Board (“MGCB”), the three Detroit casinos reported $79.1 million in monthly aggregate revenue in November. Table games and slots generated $76 million in revenue, and retail sports betting yielded $3.1 million.
The September market shares were:
- MGM, 39%
- MotorCity, 34%
- Hollywood Casino at Greektown, 27%
Monthly revenue for table games and slots decreased 23.9% when compared to November 2022 results and decreased 7% when compared to October 2023 results.
When compared with November 2022, all monthly gaming revenue decreased as follows:
- MGM, $30.6. million, decrease of 34.4%
- MotorCity, $24.7 million, decrease of 17.8%
- Hollywood Casino at Greektown, $20.7 million, decrease of 10.8%
The three Detroit casinos paid $6.2 million in gaming taxes to the State of Michigan in November, compared to $8.1 million for the same month last year. The casinos also reported submitting $9.4 million in wagering taxes and development agreement payments to the City of Detroit in November.
The three Detroit casinos reported $15.3 million in total sports betting handle and total gross receipts were $3.1 million. Retail sports betting qualified adjusted gross receipts (“QAGR”) reported for November was up by $1.2 million when compared to November 2022. Monthly QAGR was up by $2.0 million when compared to October 2023.
October QAGR by property were:
- MGM, $230,847
- MotorCity, $2.2 million
- Hollywood Casino at Greektown, $657,535
The three Detroit casinos reported submitting taxes on retail sports betting in the amounts of $116,769 to the State of Michigan, and $142,718 to the City of Detroit for November 2023.
In addition to reporting revenue from the three Detroit casinos, the MGCB released revenue numbers from fantasy contest operators.
Fantasy contest operators reported total adjusted revenues of $2.7 million and paid taxes of $229,554 during October 2023.
Top revenue generators were:
- PrizePicks, $1,519,140.24
- DraftKings, $783,955.57
- FanDuel, $413,269.81
For the first 10 months of 2023, fantasy contest operators reported $19.5 million in aggregate fantasy contest adjusted revenues and paid $1.6 million in taxes.
Kewadin Casinos Announces Phase 2 of Multi-Million Dollar Upgrade Project
According to a press release from the Sault Ste Marie Tribe, Kewadin Casinos in 2024 will begin a complete interior renovation and remodel of the Kewadin Casino Hotel 268-room hotel tower in Sault Ste Marie, Michigan.
The interior renovation project is slated to start mid-January of 2024 and is phase two of the already-announced multi-million-dollar exterior upgrade project currently underway.
Phase one will give Kewadin Sault Hotel tower a fresh new exterior, while phase two will bring new hotel rooms. Kewadin Casino Sault Ste Marie will remain open for the duration of this project. Exterior renovations are expected to end in the Winter of 2024 and the interior will be completed by Winter of 2025.
“While our guest’s experience is of the utmost importance to us, we also recognize the need to revitalize our flagship property which provides revenue to support services offered by our Tribe and within our local communities. Soon, along with a premium gaming experience, our guests will have that same experience at our newly renovated hotel in Sault Ste Marie,” said Kewadin Casinos CEO Allen Kerridge.
“We’re proud to be one of the first casinos in Michigan to open. We celebrated our 38-year anniversary this year and our 40th anniversary will be celebrated in a completely modernized hotel – both inside and out. We’re excited to see the new changes within our hotel and to watch our guests experience us for the first time all over again,” said Kewadin Sault General Manager Dana Schlehuber.
FireKeepers Casino Increases Community Support
FireKeepers Casino recently continued its charitable traditions of distributing Thanksgiving dinners in the Battle Creek area. The program provided turkeys and boxes to nearly 750 families over the Thanksgiving holiday via distribution at Battle Creek Central High School. FireKeepers Casino then hosted a toy drive and food distribution at the Kellogg Arena on December 11. The event distributed over 2000 new toys, fresh food boxes and 300 turkeys to families in need.
“We are proud to be a part of the Battle Creek community, and these events are a small way for us to express our gratitude and spread holiday cheer,” said Frank Tecumseh, CEO at FireKeepers. “Especially during these challenging times, it’s important for us to come together and support one another. We hope these events bring smiles to the faces of our neighbors and create lasting memories for the entire community.”