{"id":256,"date":"2024-06-27T04:21:57","date_gmt":"2024-06-27T01:21:57","guid":{"rendered":"https:\/\/freespinsnodeposituk.icu\/2024\/06\/27\/detroit-casino-revenue-dips-despite-sports-betting-surge\/"},"modified":"2024-06-27T04:21:57","modified_gmt":"2024-06-27T01:21:57","slug":"detroit-casino-revenue-dips-despite-sports-betting-surge","status":"publish","type":"post","link":"https:\/\/freespinsnodeposituk.icu\/2024\/06\/27\/detroit-casino-revenue-dips-despite-sports-betting-surge\/","title":{"rendered":"Detroit Casino Revenue Dips Despite Sports Betting Surge"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/RAdSzUt_lyY\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The gambling income of Detroit&#8217;s casinos experienced a slight downturn in May, even though there was a substantial rise in revenue from sports betting, showcasing the potential influence of sports betting on casino earnings.<\/p>\n<p>The overall income of Detroit&#8217;s three commercial casinos saw a reduction of 1.2% in May compared to the same period last year, despite a notable increase in revenue from sports betting.<\/p>\n<p>Detroit&#8217;s casino income experienced a slight dip in May despite a significant increase in sports betting revenue.<br \/>\nMGM Grand Detroit, MotorCity Casino, and Penn National&#8217;s Greektown Casino Hollywood generated a combined revenue of $108.7 million (\u00a386.4 million\/\u20ac101.7 million) for the month, a decrease from $110 million in May 2021 and 8.4% lower than the $118.7 million recorded in April.<\/p>\n<p>MGM led the Detroit rankings with a 46% market share, ahead of MotorCity&#8217;s 32% and Hollywood&#8217;s 22%.<\/p>\n<p>Total revenue from table games and slots reached $106.3 million, a decrease of 1.5% year-on-year and 9.1% lower than April.<\/p>\n<p>MGM reported an 8.3% year-on-year increase in table games and slots revenue to $50 million, but MotorCity&#8217;s revenue fell 9.5% to $34.6 million and Hollywood&#8217;s revenue dropped 8.0% to $21.7 million.<\/p>\n<p>The casinos paid $8.6 million in gaming taxes during the month, along with $12.6 million in wagering taxes and payments related to development agreements with the city of Detroit.<\/p>\n<p>Focusing on retail sports betting, the Qualified Adjusted Gross Revenue (QAGR) increased by 36.6% year-on-year to $2.4 million, a figure that was also 27.7% higher than April. Consumers wagered a total of $22.8 million on sports betting during the month. <\/p>\n<p>The entertainment capital of the world, Hollywood, is a frontrunner in the realm of sports wagering, boasting a quarterly compound annual growth rate of $1.6 million, significantly surpassing MotorCity&#8217;s $575,469, with MGM trailing behind at $220,028.<\/p>\n<p>These three Detroit gambling establishments contributed $90,279 in gaming levies to the state in May, and an additional $110,341 in betting taxes and development agreement payments to the city of Detroit.<\/p>\n<p>Sign up for the iGaming newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The gambling income of Detroit&#8217;s casinos experienced a slight downturn in May, even though there was a substantial rise in revenue from sports betting, showcasing the potential influence of sports&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Detroit Casinos See Dip in Revenue Despite Sports Betting Boom<\/title>\n<meta name=\"description\" content=\"Detroit\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/freespinsnodeposituk.icu\/2024\/06\/27\/detroit-casino-revenue-dips-despite-sports-betting-surge\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Detroit Casino Revenue Dips Despite Sports Betting Surge\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Detroit\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/freespinsnodeposituk.icu\/2024\/06\/27\/detroit-casino-revenue-dips-despite-sports-betting-surge\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Enjoy Exceptional Casino Entertainment | Licensed &amp; Secure\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-27T01:21:57+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/freespinsnodeposituk.icu\/2024\/06\/27\/detroit-casino-revenue-dips-despite-sports-betting-surge\/\",\"url\":\"https:\/\/freespinsnodeposituk.icu\/2024\/06\/27\/detroit-casino-revenue-dips-despite-sports-betting-surge\/\",\"name\":\"Detroit Casinos See Dip in Revenue Despite Sports Betting Boom\",\"isPartOf\":{\"@id\":\"https:\/\/freespinsnodeposituk.icu\/#website\"},\"datePublished\":\"2024-06-27T01:21:57+00:00\",\"dateModified\":\"2024-06-27T01:21:57+00:00\",\"author\":{\"@id\":\"https:\/\/freespinsnodeposituk.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Detroit\",\"breadcrumb\":{\"@id\":\"https:\/\/freespinsnodeposituk.icu\/2024\/06\/27\/detroit-casino-revenue-dips-despite-sports-betting-surge\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/freespinsnodeposituk.icu\/2024\/06\/27\/detroit-casino-revenue-dips-despite-sports-betting-surge\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/freespinsnodeposituk.icu\/2024\/06\/27\/detroit-casino-revenue-dips-despite-sports-betting-surge\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/freespinsnodeposituk.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Detroit Casino Revenue Dips Despite Sports Betting Surge\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/freespinsnodeposituk.icu\/#website\",\"url\":\"https:\/\/freespinsnodeposituk.icu\/\",\"name\":\"Enjoy Exceptional Casino Entertainment | Licensed &amp; Secure\",\"description\":\"Discover the dynamic world of online gambling through our regularly updated news, honest game reviews, and informative articles. 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