HomePublicationsNewsletter ArchiveVolume 26Issue 36DETROIT CASINOS REPORT $69.3 MILLION AGGREGATE REVENUE DURING AUGUST AT 15% CAPACITY

After having been closed for nearly five months, the Detroit casinos were permitted to reopen on August 5 at 15% capacity, along with other coronavirus restrictions. The three Detroit casinos – MGM Grand Detroit, MotorCity, and Greektown – reported $69.3 million in aggregate revenue in August for a 42% decrease in revenue from August 2019. Aggregate revenue has declined 62% year to date against 2019 revenue.

MGM Grand Detroit saw a 46% decrease in year-over-year revenue in August, reporting $28.6 million. MotorCity reported $25 million, which was a decrease of 37.5% from August 2019. Greektown revenue decreased 41.5% from August 2019 to $15.7 million.

The August market shares were:

  • MGM Grand Detroit – 41%
  • MotorCity Casino – 36%
  • Greektown Casino – 23%

The three Detroit casinos paid $5.6 million in gaming taxes to the State of Michigan in August, compared with $9.7 million in August 2019. During August, the three casinos reported $8.3 million in wagering taxes and development agreement payments to the City of Detroit.

Adjusted gross receipts for retail sports betting revenue was reported at $1.97 million for August. Adjusted gross receipts are gross sports betting receipts minus the monetary value of free play. MGM Grand Detroit reported $932,601, MotorCity reported $493,275, and Greektown reported $551,176. The State of Michigan received $74,733 in retail sports betting taxes during August, while the City of Detroit received $91,340.

Year to date aggregate retail sports betting adjusted gross receipts through August 31 were:

  • MGM Grand Detroit - $1,017,297
  • MotorCity - $498,224
  • Greektown - $567,080

Fantasy contest operators reported adjusted July revenues of $881,204 and paid taxes of $74,021 to the State of Michigan. Year to date through July 31, fantasy contest operators reported $4.9 million in adjusted revenues and paid $414,445 in taxes to the State of Michigan.

 

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