Detroit Casinos Record Best November Revenue Since 2019

Detroit casinos achieved a significant milestone in November, recording $106.4 million in revenue, their strongest monthly performance since the pandemic began. The Michigan Gaming Control Board (MGCB) announced the figures, emphasizing the substantial recovery from the challenges of recent years. However, the November 2019 record of $124.2 million remains unbeaten, a figure that has stood for five years.

The city’s three commercial casinos have faced substantial hurdles since reaching their previous peak. The COVID-19 pandemic in 2020 caused widespread disruptions, while a 47-day strike late last year, spanning from October into early December, further impacted their operations. These setbacks in Michigan were reflected in declining revenue figures over the past few years.

A Promising November Boosts Industry Confidence

November’s robust revenue results indicate a potential turning point for Detroit casinos. The month saw a 39.9% increase compared to the same period last year, as well as a 2.5% rise from October 2024. This marked the city’s best revenue month since 2019, when the casinos hit $124.2 million.

While returning to 2019 levels may remain a challenging goal, crossing the $100 million monthly revenue threshold offers optimism for the industry. With consistent performance, Detroit casinos are proving their resilience despite recent obstacles.

The strong November figures have put Detroit’s casinos on pace to achieve a yearly revenue high not seen since 2019. With $1.17 billion already recorded through November, the city’s properties are projected to close 2024 at approximately $1.28 billion. This would sur the revenue totals of the past three years:

• 2021: $1.27 billion
• 2022: $1.26 billion
• 2023: $1.22 billion

Looking forward, an ambitious goal for 2025 would be to break the $1.3 billion mark.

Among the three properties, MGM Grand Detroit reported a minor month-over-month decline in revenue, down 0.4% to $49.2 million compared to October’s $49.4 million. Despite this dip, MGM Grand remains the city’s top-grossing casino.

MotorCity Casino and Hollywood Casino at Greektown offset MGM’s decline with solid gains:

• MotorCity Casino: $33.1 million, a 4.4% increase from October’s $31.7 million.
• Hollywood Casino at Greektown: $24.2 million, a 7.1% rise from $22.5 million in October.

Year-over-year figures show even more dramatic growth, largely attributed to last year’s strike, which had suppressed earnings. From November 2023 to November 2024, revenue increased:

• MGM Grand Detroit: 60.8%
• MotorCity Casino: 34.6%
• Hollywood Casino at Greektown: 17%

Retail Sports Betting: Mixed Results

Detroit’s retail sportsbooks experienced a mixed performance in November. The betting handle dropped by 5.4% to $21 million compared to October. However, revenue surged by 131%, reaching $1.9 million.

Hollywood Casino at Greektown led in sportsbook revenue with $897,163, despite having the second-highest handle of $7.5 million. MotorCity Casino posted the highest handle at $8.4 million, underscoring its dominant position in retail sports betting.

November’s revenue figures reflect the determination and adaptability of Detroit’s casino industry. With consistent recovery efforts and a promising trajectory, the city’s properties are poised to regain their pre-pandemic momentum and aim for even greater achievements in the coming years.

Source:

„Detroit casinos report $108.35M in November revenue“, michigan.gov, December 10, 2024.