HomePublicationsNewsletter ArchiveVolume 26Issue 28Detroit Casino Aggregate Revenue Falls 59.3 Percent Through June as COVID-19 Health Concerns Kept the Doors Closed

Since the COVID-19 pandemic, Detroit casinos have had to keep their doors closed since March 16, leaving their year-to-date aggregate revenue to fall 59.3 percent through June 30. In the first six months of 2019, Detroit casinos reported $735.4 million in aggregate revenue, roughly $436.2 million more than year-to-date for 2020.

YTD 2020 Detroit casino results compared with 2019 (through June 30)

Casino

YTD 2020  Revenue

(in millions)

YTD 2019

Revenue

(in millions)

YTD Revenue Change from

Previous Year

 (in millions)

YTD Percentage

Comparison

(+ or - )

MGM Grand

Detroit

$126.5

$315.1

-$188.6

-59.8%

MotorCity Casino

$102.6

$250.5

-$147.9

-59.0%

Greektown

Casino

$70.1

$169.8

-$99.7

-58.7%

Total

$299.2

$735.4

-$436.2

-59.3%

Detroit casinos have also seen a $35.3 million decrease in state gaming taxes through June 30. Of the three Detroit casinos that are reporting, they submitted $35.6 million year-to-date in wagering taxes and development agreement payments to the city of Detroit compared to $87.5 million for the same six-month period in 2019.

Fantasy Contests

For the month of May, fantasy contest operators reported total adjusted revenue of $329,173 and paid $27,650.27 in taxes. For June, fantasy contest operators reported $329,173.37 in aggregate adjusted revenue and paid $27650.57 in taxes.

 

April

May

Fanduel

 

 

Fantasy Contest Adjusted

Revenue

$23,596.70

$62,673.23

Fantasy Contest Tax (8.4%)

$1,982.12

$5,264.55

DraftKings

 

 

Fantasy Contest Adjusted

Revenue

$145,057.86

$236,525.16

Fantasy Contest Tax (8.4%)

$12,184.86

$19,868.10

SportsHub

 

 

Fantasy Contest Adjusted

Revenue

$0.00

$454.72

Fantasy Contest Tax (8.4%)

$0.00

$38.20

FFPC, LLC

 

 

Fantasy Contest Adjusted

Revenue

$12,269.99

$21,115.92

Fantasy Contest Tax (8.4%)

$1,030.68

$1,773.74

FullTime

 

 

Fantasy Contest Adjusted

Revenue

$3,364.44

$2,160.32

Fantasy Contest Tax (8.4%)

$282.61

$181.47

Yahoo

 

 

Fantasy Contest Adjusted

Revenue

$0.00

$0.00

Fantasy Contest Tax (8.4%)

$0.00

$0.00

Shark

 

 

Fantasy Contest Adjusted

Revenue

$1,215.77

$6,244.12

Fantasy Contest Tax (8.4%)

$102.12

$524.51

All Fantasy Operators

 

 

Fantasy Contest Adjusted

Revenue

$185,504.76

$329,173.37

Fantasy Contest Tax (8.4%)

$15,582.39

$27,650.57

 

 

 

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