Motorcity Casino Detroit

Detroit’s three casinos have reported monthly aggregate revenue of $69.3m during August after the properties reopened following a four and a half month shutdown due to the rapid spread of COVID-19.

The casinos’ aggregate revenue for slots and table games was down 42 percent compared with August 2019 results, and has declined 62 percent year to date against last year.

When compared to the performance in the comparative month in 2019, revenue fell 46 per cent to $28.6m at MGM Grand Detroit Casino, 37.5 per cent to $25m at MotorCity Casino and 41.5 per cent to $15.7m at Greektown Casino Hotel. Market shares during the month was 41 per cent, 36 per cent and 23 per cent, respectively.

This comes after Michigan Governor Gretchen Whitmer awarded the properties the green-light to reopen from Wednesday 5 August in adherence to strict health and safety guidelines. 

Subsequently, MotorCity Casino and Greektown Casino reopened on the first day permitted, while MGM Grand resumed action two days later on August 7.

During August, the three Detroit casinos also paid $5.6m in taxes to the state of Michigan compared with $9.7m for the same month last year.

Furthermore, the trio reported $1.97m in qualified adjusted gross receipts, led by the MGM Grand Detroit Casino’s $932,601, ahead of $551,176 from the Greektown Casino Hotel, and MotorCity Casino’s $493,275.

The state received $74,733 in retail sports betting taxes from the Detroit casinos during August, with the facilities submitting $91,340 in retail sports betting taxes to the city of Detroit.

On a year to date basis, aggregate retail sports betting qualified adjusted gross receipts are $1,017,297 from MGM, $498,224 at MotorCity and $567,080 from Greektown.

Fantasy contest operators reported total adjusted July revenues of $881,204 and paid taxes of $74,021 to the Wolverine State.