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
open business

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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