Detroit’s three casinos and union leadership announced a tentative agreement Friday to end the strike after stopping work for more than a month.
The city has seen merchants, custodial staff, food and beverage staff, engineers, and other employees go out of work MGM Grand, Hollywood and Motor City Casinos on October 17. Real estate continued to operate, but in very limited capacities.
Union officials had indicated that the two parties were close to reaching an agreement in recent days after Las Vegas casino workers reached a similar decision to avoid a strike of their own. The new agreement will still need the approval of unionized workers.
“After months of negotiations and 32 days of strike action, the Detroit Casino Board has reached a tentative agreement for a new five-year contract with… MGM Grand Detroit, Hollywood Casino in Greektown, and MotorCity Casino for 3,700 casino workers,” Unite Here Local 24 posted on Twitter. “Best agreement in the history of the Detroit casino industry.”
After months of negotiations and a 32-day strike, the Detroit Casino Board has reached a tentative agreement for a new 5-year contract with…
mgmgranddetroit</a> <a href="https://twitter.com/HwoodGreektown?ref_src=twsrc%5Etfw">hoodgreektown @motorcitycasino For 3,700 casino workers. The best agreement in the history of the Detroit casino industry. pic.twitter.com/K485GUtQq6— Autism here Local 24 (@uhlocal24) November 17, 2023
Key segments in revenue
Despite remaining open during a month-long strike by the city’s casino workers, Detroit’s three casinos saw a significant drop in revenue for October, according to numbers released by the Michigan Gaming Control Board this week. In total, the casinos reported revenue of $82.8 million for the month. This represents a significant decline for all three casinos.
October table gaming and gambling revenue was $81.7 million, and retail sports betting was $1.1 million. MGM The three properties led with 46% of casino revenue, followed by MotorCity at 31% and Hollywood at 23%.
During the month, table gaming and gambling revenues were down 18.9% compared to October 2022. This was also a decline from September of 18.3%. The strike impacted the overall revenue landscape for the year with table gaming and gambling revenues down 1.3% for the period January 1 to September 30 compared to the same period in 2022.
Retail sports betting also saw a significant decline. The union leadership encouraged gamblers to avoid betting at the three casinos during the strike. The three casinos accounted for just $18.1 million in retail sports betting and total revenue of $1.1 million in October.
These numbers represent a significant decrease of 46.3% compared to October 2022. This was also a decrease of 28.6% compared to September. This was a significant drop, considering that the world of sports is somewhere in the middle NFL The season and his hometown Detroit Lions are off to one of the team’s best starts in years.
