written and last updated by
Sam Smith at
16 Aug 2023
Journalist, Editorial Department
The Michigan Gaming Control Board has released its latest report detailing the performance of Detroit's three casinos for July. Excluding sports betting, the total revenue reached $106.7 million (10.34 billion rubles), indicating a gradual recovery of the market's financial metrics to pre-pandemic levels.
Over the first seven months of 2023, the three casinos generated more than $749 million (72.6 billion rubles at current exchange rates) in revenue. This figure is over $6 million (581.6 million rubles) higher than the same period last year. In 2021, when strict COVID-19 restrictions were in place, total revenue was down by $28 million (2.7 billion rubles).
Hollywood Casino at Greektown was the only venue to report a year-over-year increase in monthly revenue, rising by 27.5% to $25.3 million (2.45 billion rubles). This growth offset the more modest results from its competitors, whose combined revenue increased by less than $1 million (almost 97 million rubles).
In terms of market share, MGM Grand Detroit led the month with 47%, generating $50 million (4.85 billion rubles) in revenue. It was followed by MotorCity Casino, which held 29% of the market and reported $31.4 million (3.04 billion rubles). Year-over-year, revenue for MGM and MotorCity declined by 2.4% and 10%, respectively.
The total revenue for Detroit's casinos in 2023 is projected to reach $1.28 billion (124.07 billion rubles). While this is lower than the $1.45 billion (140.5 billion rubles at today’s rates) earned in 2019, it represents a significant improvement over the results of the past three years.
The positive financial results for July were driven by slot machines and table games. Total revenue from sports betting amounted to $485,763 (over 47 million rubles), which is higher than June's figures, largely due to a $972,000 (over 94 million rubles) win by a patron at MotorCity last month.
Meanwhile, Turning Stone Resort Casino has been named the best in New York for the eighth consecutive year.
