The Michigan Gaming Control Board has reported that revenue across Detroit’s three commercial casinos dropped 57.3 per cent year-on-year during 2020, with the state regulator reporting a final figure of $639m, compared with 2019’s record $1.45bn performance.
Noting the significant impact of COVID-19 upon operations, table games and slots generated 97 per cent of revenue at $620.4m, while retail sports betting, which got underway in March, provided three per cent at $18.3m.
Due to public health concerns, the casinos were closed from March 16 through to August 4 and from November 18 until December 22, and operate at limited capacity between those dates under an epidemic order issued by the Michigan Department of Health and Human Services.
Breaking down the figures by vertical, all three Detroit gaming establishments saw table games and slots revenue decline during the year, with MGM Grand Detroit leading the way with a 58.8 per cent reduction to $257.1m and a market share of 41 per cent.
MotorCity Casino’s $222.7m, a drop of 54.9 per cent, represents a 2020 market share of 36 per cent, with Greektown Casino claiming the remaining 23 per cent via a 58.3 per cent drop to $140.6m.
The trio paid $50.3m in wagering taxes to the state of Michigan compared with $117.8m a year earlier, as well as making $73.8m in wagering taxes and development agreement payments to the city of Detroit.
On a retail sports betting basis the three casinos reported aggregate adjusted gross receipts of $18.3m, as well as paying $690.865 in taxes to the state and $844,391 to the city.
The BetMGM sportsbook led the way with $8.2m, followed by MotorCity and its FanDuel sports betting partner with $6m, and Greektown Casino and Penn Sports Interactive with $4.1m.
The MGCB also provided a December performance update, with the three casinos reporting $23.93m in monthly aggregate revenue in December while operating at limited capacity for nine days due to COVID-19 health concerns. Table games and slots generated $22.05m, an 82.8 per cent drop, while retail sports betting produced $1.88m.
It has been widely reported in recent days that the debut of online casino gaming and sport betting is days away from launch within the state, following the MGCB approving provisional licenses for 15 platform providers in December.