Detroit Casinos Rebound Following Workers Strike
LISTEN TO THIS ARTICLE:Detroit's three casinos bounced back from a workers' strike in November to post impressive gaming revenue figures in December. The results were an improvement over the previous month, as well as a slight increase from a year earlier.
Detroit Casinos Back on Track
The three casinos, MGM Grand Detroit, MotorCity Casino and Hollywood Casino at Greektown, combined for $111.4 million in revenue from slots and table games last month, marking the second-highest monthly gaming revenue total for the year. This represents a significant increase of 46.6% from November's revenue, which was significantly impacted by the strike.
December's revenue was also up slightly from December 2022's $108.3 million, indicating that the casinos are on track to recover from the strike and surpass their 2022 revenue figures. The casinos' overall revenue from slots and table games in 2023 was $1.22 billion, a slight decline of 2.7% from 2022's total of $1.26 billion.
The three casinos all experienced their second-best monthly revenue from slots and table games in December. MotorCity Casino's revenue of $34.7 million was second only to its March 2023 total of $35.8 million. Hollywood Casino at Greektown's $26.1 million in revenue was second only to its March 2023 total of $27.6 million. And MGM Grand Detroit's $50.6 million in revenue was second only to its March 2023 total of $54.4 million.
Sports Betting Handle Sees Huge Gain
The Detroit casinos also experienced a surge in retail sports betting in December. The three casinos combined for $30.4 million in handle, the highest retail handle Detroit has seen since January 2022. This represents an 88.8% increase from December 2022's handle of $16.1 million.
The casinos also combined for $4.8 million in sports betting revenue in December, the highest mark the three casinos have had since October 2020. MotorCity Casino led the way with $16.8 million in handle, while Hollywood Casino at Greektown followed with $10 million in handle. MGM Grand Detroit's $3.6 million in handle was lower than its two counterparts, but it was still its eighth-highest total of the year.
Throughout 2023, MotorCity Casino's retail sports betting handle was the only one of the three casinos to improve on its 2022 total, reaching $65 million. Collectively, the three casinos' retail sports betting handle of $181.7 million was down 31.1% from last year's $263.7 million.
Overall, the Detroit casinos' December results are a sign of positive momentum following the workers' strike. The strong performance in both slots and table games, along with the surge in retail sports betting, suggests that the casinos are well-positioned for a successful 2024.
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