View NFL Weekly Projections
May 9, 2023
May 9, 2023

Detroit Casinos Post $110 Million In April Revenue

Detroit’s three casinos reported under $110 million in revenue in April, down 8% from a year ago, partly due to a $2.6 million payout from a sports betting parlay win. The casinos paid $69,237 in taxes to the state and $84,624 in taxes to the city based on retail sports betting revenue. Table games and slots generated $109.6 million, while retail sports betting produced $120,350. MGM Grand Detroit led with a 46% market share, followed by MotorCity Casino’s 30% and Hollywood Casino at Greektown’s 24%. Revenue from table games and slots was down 6.2% YoY, but gaming revenue was up 6.3% YoY at Hollywood Casino at Greektown. The casinos paid $8.9 million in gaming taxes to the state and submitted $13 million in wagering taxes […]
May 9, 2023
May 9, 2023

MGM & Entain

MGM Resorts and Entain are in a proxy battle of competing M&A, with MGM Resorts looking to bolster its LeoVegas business and challenge Entain’s position in the online space. MGM Resorts CEO Bill Hornbuckle outlined three “pillars” of potential growth for LeoVegas, including getting into the content business, live dealer, and sports-betting technology. Hornbuckle also named MGM’s digital chief Gary Fritz as a “big part” of the strategy. Sources suggest Fritz’s background at IAC gives credence to this being a planned digital strategy away from BetMGM. Hornbuckle gave a timeline of two to three years to “build something meaningful”.
May 9, 2023
May 9, 2023

Ballys Making Changes

Bally’s has made a number of management changes, with Marcus Glover replacing Bobby Lavan as EVP and CFO and Charles Diao and Jaymin Patel joining as SVP of finance and corporate treasurer and vice-chairman of the board, respectively. The company also announced plans to file a draft registration to list its River West resort in Chicago and offer shares to city residents. Lavan stated that the resort was expected to generate $50m of EBITDA in 2024. Bally’s reported a 9% rise in total revenue to $599m, with adj. EBITDAR up 10% to $158m. The Kambi-powered OSB relaunch is set for the end of the year, with Bally’s switching financial terms from a fixed to a variable cost model. The UK grew 9.6%, and CEO Robeson […]
View NFL Weekly Projections
May 9, 2023
May 9, 2023

Detroit Casinos Post $110 Million In April Revenue

Detroit’s three casinos reported under $110 million in revenue in April, down 8% from a year ago, partly due to a $2.6 million payout from a sports betting parlay win. The casinos paid $69,237 in taxes to the state and $84,624 in taxes to the city based on retail sports betting revenue. Table games and slots generated $109.6 million, while retail sports betting produced $120,350. MGM Grand Detroit led with a 46% market share, followed by MotorCity Casino’s 30% and Hollywood Casino at Greektown’s 24%. Revenue from table games and slots was down 6.2% YoY, but gaming revenue was up 6.3% YoY at Hollywood Casino at Greektown. The casinos paid $8.9 million in gaming taxes to the state and submitted $13 million in wagering taxes […]
Do you like it?
Read more
May 9, 2023
May 9, 2023

MGM & Entain

MGM Resorts and Entain are in a proxy battle of competing M&A, with MGM Resorts looking to bolster its LeoVegas business and challenge Entain’s position in the online space. MGM Resorts CEO Bill Hornbuckle outlined three “pillars” of potential growth for LeoVegas, including getting into the content business, live dealer, and sports-betting technology. Hornbuckle also named MGM’s digital chief Gary Fritz as a “big part” of the strategy. Sources suggest Fritz’s background at IAC gives credence to this being a planned digital strategy away from BetMGM. Hornbuckle gave a timeline of two to three years to “build something meaningful”.
Do you like it?
Read more
May 9, 2023
May 9, 2023

Ballys Making Changes

Bally’s has made a number of management changes, with Marcus Glover replacing Bobby Lavan as EVP and CFO and Charles Diao and Jaymin Patel joining as SVP of finance and corporate treasurer and vice-chairman of the board, respectively. The company also announced plans to file a draft registration to list its River West resort in Chicago and offer shares to city residents. Lavan stated that the resort was expected to generate $50m of EBITDA in 2024. Bally’s reported a 9% rise in total revenue to $599m, with adj. EBITDAR up 10% to $158m. The Kambi-powered OSB relaunch is set for the end of the year, with Bally’s switching financial terms from a fixed to a variable cost model. The UK grew 9.6%, and CEO Robeson […]
Do you like it?
Read more