{"id":8198,"date":"2024-11-14T08:11:30","date_gmt":"2024-11-14T08:11:30","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/11\/14\/detroit-casinos-see-solid-october-growth-despite-sports-betting-losses\/"},"modified":"2024-11-14T08:11:30","modified_gmt":"2024-11-14T08:11:30","slug":"detroit-casinos-see-solid-october-growth-despite-sports-betting-losses","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/11\/14\/detroit-casinos-see-solid-october-growth-despite-sports-betting-losses\/","title":{"rendered":"Detroit Casinos See Solid October Growth, Despite Sports Betting Losses"},"content":{"rendered":"<div>\n<p>The most recent income statistics for Detroit\u2019s casinos were made public by the Michigan Gaming Control Board, and they show a healthy increase in gaming and betting activity. The cumulative revenue for October at the city\u2019s three casinos\u2014MGM, MotorCity, and Hollywood Casino at Greektown\u2014was $102.9 million. This amount represents a notable increase in profits from slot machines and table games, which brought in over $103.7 million. However, there was a minor drop in retail sports betting, with the casinos as a whole reporting a loss of more than $0.8 million in this area.<\/p>\n<h2><strong>Casino Revenue Highlights<\/strong><\/h2>\n<p>The overall revenue for October represents a 2.6% increase compared to September, with table games and slots showing the strongest performance. The revenue from these games rose by 26.9% year-over-year, indicating growing interest and engagement in traditional casino offerings.<\/p>\n<p>MGM Casino led the market once again, claiming 48% of the city\u2019s total market share. The casino saw a notable 32.4% increase in revenue, reaching $49.4 million for the month. MotorCity Casino followed with a strong performance, posting nearly $31.7 million in revenue\u2014a 26.7% rise from the previous month. Hollywood Casino at Greektown rounded out the top three, with a revenue of approximately $22.6 million, up 16.5% from <a href=\"https:\/\/igaming.org\/casino-news\/detroit-casinos-generate-101-98m-in-september-2024\/\">September.<\/a><\/p>\n<p>While the overall performance in traditional gaming was robust, retail sports betting struggled. The three casinos collectively recorded a total handle of $22.2 million, but this resulted in a loss of over $0.8 million in gross receipts. Qualified adjusted gross receipts (QAGR) for sports betting fell by $2 million year-over-year, highlighting the volatility in this segment. Hollywood Casino at Greektown led in sports betting activity for the month, with a QAGR of $175,905.<\/p>\n<p>Detroit\u2019s casinos continued to contribute significantly to local and state revenue, paying nearly $8.4 million in gaming taxes. Additionally, the city received $12.8 million in wagering taxes and development agreement payments, further demonstrating the economic impact of the gaming industry.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/katsubet-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\"><br \/>\n\t\t<amp-img alt=\"Katsubet\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Katsubet.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/katsubet-casino\/\" title=\"Katsubet\" target=\"_blank\" rel=\"nofollow\">Katsubet<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>5BTC or 111% + 111 Free Spins!<\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive 111% Welcome Bonus  + 111 Free Spins<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/katsubet-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Despite the challenges in sports betting, October was a strong month for Detroit\u2019s casinos, with continued growth in traditional gaming revenues and substantial contributions to local and state finances.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/detroit-casinos-see-solid-october-growth-despite-sports-betting-losses\/\">Detroit Casinos See Solid October Growth, Despite Sports Betting Losses<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The most recent income statistics for Detroit\u2019s casinos were made public by the Michigan Gaming Control Board, and they show a healthy increase in gaming and betting activity. The cumulative revenue for October at the city\u2019s three casinos\u2014MGM, MotorCity, and Hollywood Casino at Greektown\u2014was $102.9 million. This amount represents a notable increase in profits from [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-8198","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=8198"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8198\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=8198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=8198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=8198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}