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According to the Michigan Gaming Control Board’s latest data released on Tuesday, the three retail casinos in Detroit, Michigan experienced another drop in both revenue and sports betting handle in November.
November’s total of $18.1 million marked a 23% decrease from the promising growth observed in October, when the sports betting handle had increased from September.
In November, Detroit’s slot machines and table games generated a revenue of $99.9 million, experiencing a slight decrease compared to October’s $100.7 million.
Detroit casinos declining off in final months of 2022
Detroit’s retail casinos, namely MGM Grand Detroit, MotorCity Casino, and Hollywood Casino at Greektown, have experienced a decline in revenue for the fifth consecutive month.
The Detroit casinos’ revenue in November fell just short of $100 million, marking the first month since June that they failed to collectively reach this milestone.
Nevertheless, there has been only a slight decrease in the past few months.
- July: $105,942,852
- August: $104,481,457 (1.4% decline)
- September: $100,818,011 (3.5% decline)
- October: $100,722,864 (0.1% decline)
- November: $99,924,009 (0.8% decline)
Detroit’s three casinos generated a total revenue of $1.155 billion within the first 11 months of 2021. However, during the same period in 2022, their revenue decreased slightly to $1.149 billion, resulting in a decline of 0.6%.
It is important to mention that the COVID pandemic caused capacity limitations from January to June in 2021.
In April, the Detroit casinos exhibited a remarkable financial success, surpassing their revenue from the previous year by generating an impressive $116.9 million. This marked the final month of 2022 in which they achieved such exceptional performance.
Detroit retail sports betting takes a hit
Following a notable surge of 26.7% from September to October, the retail sportbooks in Detroit experienced a subsequent decline of 23% in handle from October to November.
In November, the retail books in Detroit accumulated a handle of $18.1 million, following a previous tally of $23.5 million in October.
The retail handle for Detroit sportsbooks in November 2022 is the second lowest of the year. It marks a significant decrease of almost 32% compared to November 2021.
The combined handle of the three Detroit books for the first 11 months of 2022 totals $247.7 million, which reflects a decrease of 11.7% compared to the $280.6 million accumulated during the same period in 2021.
Hollywood Casino still surpassing 2021 handle
Unlike MGM Grand Detroit and MotorCity Casino, Hollywood Casino at Greektown is anticipated to surpass its handle totals for 2021.
As of the first 11 months of 2022, Greektown has already exceeded its 2021 milestone of $110 million and currently stands at $127.2 million.
Even if it were to achieve its lowest monthly handle total of 2022, it would still exceed $130 million for the year. This would signify a growth of more than 18% compared to the previous year.
Online gambling still going strong
The numbers for online sports betting and online casinos in November have not yet been released. Nevertheless, both industries in Michigan had a successful month in October.
In October, Michigan’s online handle reached $480.8 million, making it the second-highest of the year. The largest handle was recorded in January at $496.8 million. Additionally, October 2021’s figure of $463.3 million saw a 3.8% increase.
The online casino revenue for October amounted to nearly $141 million, marking the fourth-highest month in the US iGaming market.
In comparison to September’s $128.7 million, there was a notable 9.5% surge, marking Michigan’s highest month by 6.4%. Previously, the record was held by April with $132.4 million.
