MGCB (Michigan Gaming Control Board) shared fresh financial results of the market as part of their monthly earnings report. The state’s three gambling establishments earned a combined $104.9 million ($10.094 billion). Of that, 104.6 million (10.065 billion rubles) was revenue from slot machines and table entertainment. Sports betting brought in about $322,000 (almost 30.99 million rubles).
Although Michigan’s overall gambling revenue remained stable compared to 2022, the bottom line was 1.7% lower than last month. Of the state’s three casinos, Hollywood Casino in Greektown performed best, despite traditionally having the smallest market share. The establishment managed to earn $24.4 million (2.35 billion rubles) in August, down 3.6% from July, but 11.7% above the result for the same month in 2022.
Two other commercial casinos – MGM and MotorCity – earned revenues of $50.1 million (4.8 billion rubles) and $31.4 million dollars (more than 3 billion rubles) respectively. The indicators of both establishments show a slight decline compared to both August last year and July 2023.
If we take a closer look at Hollywood Casino’s statistics, it turns out that from January to August, the establishment’s revenues were regularly higher than in the same months of 2022. And from June through August, annual growth always reached double digits. The record was June with a 36.8% year-over-year increase in revenue.
Hollywood Casino’s results thus helped stabilize the performance of the overall market. According to the regulator’s report, total slot machine and table games revenue was up 0.8% YTD.
Meanwhile, Morgan Stanley analysts have adjusted by 5% their forecast for Macau’s gaming revenue for 2023.