Detroit Casino Revenue In June Dips 2% From May’s Number

With COVID restrictions still in place for much of the month, Detroit's casinos slumped a bit
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With COVID restrictions still in place for 21 of the 30 days of June, the trio of Detroit casinos — MGM Grand Detroit, MotorCity Casino, and Greektown Casino and Hotel — still managed to generate $105.8 million in revenue on the table and slots side and an additional $2.3 million in revenue from their sportsbooks.

The $105.8 million number, down 2% compared to May, wasn’t so far off the $117.5 number generated in June 2019 for the three casinos. Of course, the casinos were closed last June and, in 2019, they didn’t have online competition. 

The capacity restrictions were removed June 22, so July’s numbers will be meaningful as the first month since the pandemic started that Detroit’s casinos will be operating at full capacity.

Overall market share for June was as follows: MGM, 44%; MotorCity, 35%; Greektown, 21%.

On the retail sports betting side, the $2.3 million the casinos reported in gross revenue came from total handle of $24.4 million. Adjusted gross receipts for June broke down as follows: Greektown, $819,272; MotorCity, $796,206; MGM, $680,434.

Michigan received $86,785 in retail sports betting taxes from the three Detroit casinos, which also reported submitting $106,071 in retail sports betting taxes to the city of Detroit. 

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Gaming revenue from slots and tables by casino for the month was: MGM at $46.3 million, MotorCity at $37.2 million, and Greektown at $22.3 million. For the quarter ending June 30, overall revenue was as follows: MGM, $135.7 million; MotorCity, $115.3 million; and Greektown, $70.2 million

Overall for the month, the three casinos paid $8.6 million in gaming taxes to the state and another $12.6 million in wagering taxes and development agreement payments to Detroit. For the quarter, the three casinos doled out $26 million in gaming taxes to the state.

Photo: Shutterstock

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