Detroit Casinos Are Inching Back To Pre-COVID Revenue Numbers

Even with the Delta variant spreading, the three Detroit casinos have come nearly all the way back
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It seems fair to say the trio of Detroit casinos have bounced back from COVID-19. 

In August, the three casinos — MGM Grand Detroit, MotorCity Casino Hotel, and Greektown Casino Hotel — reported $113.82 million in monthly aggregate revenue, with over $112 million coming from slots and table games. Retail sports betting took in $1.65 million.

To compare: In August 2019 — the casinos were only allowed to be opened at minimal capacity in August 2020 — the three casinos brought in a little more than $119 million. This was before sports betting, but also before online casino play came to the state.

So while the three casinos saw about a 6% decrease in land-based revenue, that might just be the cost of doing business in the post-PASPA world.

Overall market shares broke down as follows: MGM, 47%; MotorCity, 32%; Greektown, 21%.

Monthly gaming revenue by property broke down with MGM at $52.2 million, MotorCity at $36.5 million, and Greektown at $23.4 million.

For the month of August, the three casinos paid $9.1 million in gaming taxes to the state of Michigan and another $13.3 million to the city of Detroit.

Retail sports betting

On the sports betting front, MGM paced the field with $851,920 in qualified adjusted gross receipts, Greektown had $565,432, and MotorCity pulled up the rear with $232,675.

The casinos reported total handle of $16,288,170. Total gross receipts were $1,648,581, for a healthy hold of over 10%.

The casinos paid $62,371 in state taxes on retail sports betting, and another $76,231 to the city of Detroit.

Year to date on the sports betting front, Greektown holds the lead at $5.5 million in qualified adjusted gross receipts, with MotorCity a hot second at $5.4 million. MGM is sitting in third at $4.4 million.

Photo: Shutterstock

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