MGM Grand Detroit has maintained its position at the top of the gaming charts in July, as the Michigan Gaming Control Board documents the performance of the three Detroit-based casinos through the month.
This saw the trio record $116.9m in monthly aggregate revenue through the 31 days, with table games and slots coming in at $115.7m and retail sports betting generating $1.2m.
Revenue through July came in at 9.3 per cent higher than the $108.1m detailed one month earlier, however, a slight drop has been felt from 2019’s $119m performance. The three Detroit casinos were closed during July 2020 due to COVID-19 restrictions.
During the month, MGM Grand Detroit recorded $53.8m (May: $46.3m) in revenue, with MotorCity Casino someway behind with $38.5m (May: $37.2m), and Greektown Casino closing the month with $23.4m (May: $22.3m). Market shares for the three closed at 46 per cent, 34 per cent, and 20 per cent, respectively.
The casinos paid $9.4m in gaming taxes to the state of Michigan during July, and reported submitting $13.8m in wagering taxes and development agreement payments to the city of Detroit.
Total sports betting handle came in at $18.2m (May: $24.3m), with the casinos also reporting total gross receipts of $1.21m, which is down from the $2.29m felt through May.
Retail sports betting qualified adjusted gross receipts by casino were MotorCity’s $637,681, Greektown’s $437,203, and MGM’s $136,948.
The casinos paid $45,807 in state taxes on retail sports betting during July, and also reported submitting $55,987 in retail sports betting taxes to Detroit.
Furthermore, the MGCB also detailed that fantasy content operators reported total adjusted revenues of $1.31m and paid $110,245 in taxes.
Through July 31, fantasy contest operators reported $8.3m in total aggregate fantasy contest adjusted revenues, and paid $697,183 in taxes this year.