HomePublicationsNewsletter ArchiveVolume 26Issue 40DETROIT CASINOS REPORT $87.9 MILLION AGGREGATE REVENUE DURING SEPTEMBER AT 15% CAPACITY

The Detroit casinos – MotorCity Casino, MGM Grand Detroit, and Greektown Casino – reported $87.9 million in aggregate revenue during the month of September, an increase of 26.8% from August’s reported revenue. The casinos remain operating at 15% capacity due to COVID-19 restrictions.  

Aggregate revenue for slots and table games was down 21.7% in year-over-year revenue in September, and has declined 58% year to date against 2019. Compared to September 2019, revenue fell 22.3% to $36.1 million at MGM Grand Detroit, 17.3% to $32.2 million at MotorCity, and 27.2% to $19.6 million at Greektown.

The market shares during September were:

  • MGM Grand Detroit – 41%
  • MotorCity Casino – 37%
  • Greektown Casino – 22%

Third quarter aggregate revenue of $157.3 million was a decrease of 55.2% compared with the third quarter of 2019. Quarterly revenue dropped 57.2% at MGM Grand Detroit, 52.2% at MotorCity Casino, and 56.1% at Greektown Casino.

Together the casinos paid $7.1 million in taxes to the State of Michigan during September, compared with $9.1 million in September 2019. The casinos reported $10.5 million in wagering taxes and development agreement payments to the City of Detroit during September.

The three casinos reported $4.4 million in qualified adjusted gross receipts for retail sports betting during the month of September. Qualified adjusted gross receipts are gross sports betting receipts minus the monetary value of free play incentives provided to and wagered by bettors. MGM Grand Detroit reported $2,096,337, MotorCity Casino reported $1,557,561, and Greektown Casino reported $722,509. The State of Michigan received $165,428 in retail sports betting taxes from the casinos in September, and the City of Detroit received $202,190.

Year to date through September 30 aggregate retail sports betting qualified adjusted gross receipts were:

  • MGM Grand Detroit – $3,113,634
  • MotorCity Casino – $2,055,785
  • Greektown Casino – $1,289,589

Fantasy contest operators reported total adjusted August revenues of $2.3 million and paid taxes of $189,875 to the State of Michigan. Year to date through August 31, fantasy contest operators reported $7.2 million in aggregate fantasy contest adjusted revenues, and paid $604,321 in taxes to the State of Michigan.

 

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