HomePublicationsNewsletter ArchiveVolume 26Issue 47DETROIT CASINOS REPORT $50.4 MILLION IN NOVEMBER REVENUE

The three Detroit casinos - MGM Grand Detroit, MotorCity Casino, and Greektown Casino - reported $50.4 million in monthly aggregate revenue in November. The casinos operated at 15% capacity due to COVID-19 operating restrictions, and were ordered to close on November 17 under an order from the Michigan Department of Health and Human Services (MDHHS). 

November table games and slots revenue fell 61.3% when compared with November 2019, and fell 48.7% from October 2020. January through November 2020 table games and slots revenue declined 54.9% when compared with January through November 2019.

Year-over-year revenue declined 62.1% to $20.5 million for MGM Grand, 57.1% to $17.5 million for MotorCity, and 65.7% to $10.1 million for Greektown. The Detroit casinos paid $3.9 million in gaming taxes to the State of Michigan during November, compared with $10.1 million in November 2019. The casinos reported $5.7 million in wagering taxes and development agreement payments to the City of Detroit during November.

The casinos reported a total sports betting handle of $25,080,140 during November. Qualified adjusted gross receipts for the casinos were the following:

  • MGM Grand Detroit - $561,372
  • MotorCity Casino - $1,130,956
  • Greektown Casino - $645,310

Qualified adjusted gross receipts are gross sports betting receipts minus the monetary value of free play incentives.

The casinos reported paying $88,363 in State taxes and $107,999 in retail sports betting taxes to the City of Detroit.

Aggregate retail sports betting qualified adjusted gross receipts through November 30 were:

  • MGM Grand Detroit - $7.4 million
  • MotorCity Casino - $5.4 million
  • Greektown Casino - $3.6 million

The market shares based on aggregate revenue including table games, slots, and retail sports betting were:

  • MGM Grand Detroit - 42%
  • MotorCity Casino - 37%
  • Greektown Casino - 21%

Fantasy contest operators reported $12.4 million in aggregate adjusted revenues during October 2020, and paid $1 million in taxes year-to-date through October.

 

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