Detroit’s Three Casinos See Return To Pre-COVID Normalcy

Casino numbers look a lot like 2019, but retail sports betting took a predictable hit
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The COVID-19 era is — at least for now, and hopefully forever — in the rearview mirror for the Detroit casino industry, as the city’s three casinos reported $110.4 million in monthly aggregate revenue for September, with table games and slots coming in at $106.9 million and retail sports betting netting $3.5 million.

Going back to pre-COVID times in September 2019, the three casinosMGM Grand Detroit, Greektown Casino, and MotorCity Casino Hotel — combined for $112.3 million in monthly revenue. Last September, while the casinos were operating at 15% capacity limits, revenue was just shy of $88 million.

Clearly, while the numbers aren’t all the way back, they are certainly close enough, especially considering there were no online casinos to battle with at the time.

MGM paced the field in terms of total market share for the month at 45%, followed by MotorCity at 34% and Greektown at 21%. Predictably, table game and slot revenue matched market share numbers, with MGM taking in the most with $48.4 million, MotorCity with $36.5 million, and Greektown with $22 million.

The three casinos paid $8.7 million in taxes to the state and another $16.8 million to the city of Detroit for the month.

Through the first three quarters of the year, revenue is up nearly 113% from the first three quarters of 2020. Total revenue for the year to date breaks down in the following fashion: MGM, $154.4 million; MotorCity, $111.6 million; and Greektown, $68.8 million.

Retail sports betting took a predictable hit

The retail sports betting side took a bit of a hit — down 21% — compared to last September, which is unsurprising considering online sports betting was not yet available then.

For the month, MGM took in $1.3 million, MotorCity made $1.2 million, and Greektown came in third with $883,813. Total handle for the month was $32.5 million, and total gross receipts were $3.5 million for a more-than-healthy hold of 10.7%.

On the sports betting side, the casinos paid $130,885 in taxes to the state and $159,970 to the city of Detroit.

Photo: Shutterstock

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