Detroit casinos report $108.98 million in April monthly revenue while operating at limited capacity

Michigan Gaming Control Board sent this bulletin at 05/11/2021 09:30 AM EDT

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Michigan Gaming Control Board

PRESS RELEASE

Contact: Mary Kay Bean, beanm1@michigan.gov

For Immediate Release:

Detroit casinos report $108.98 million in April monthly revenue while operating at limited capacity

Detroit, May 11, 2021 - The three Detroit casinos reported $108.98 million in monthly aggregate revenue in April while continuing to operate at limited capacity due to COVID-19 health concerns. Table games and slots generated $107.44 million in revenue, and retail sports betting produced revenue of $1.54 million.

Monthly revenue fell 3.1 percent when compared with March results. Through April 30, gaming revenue for table games and slots for the three Detroit casinos was up by 30.9 percent compared with the same period last year. The three Detroit casinos closed on March 16, 2020, and remained closed during April 2020 because of coronavirus-related concerns.

In April 2019, the Detroit casinos reported monthly aggregate revenue of $125.1 million for table games and slots while operating at full capacity.

 The market shares for April were:

  • MGM, 40 percent
  • MotorCity, 37 percent
  • Greektown, 23 percent

Table Games and Slot Revenue and Taxes

Monthly table games and slot revenue earned by casino was:

  • MGM, $43.20 million
  • MotorCity, $39.92 million
  • Greektown, $24.32 million

During April, the three Detroit casinos paid $8.7 million in gaming taxes to the State of Michigan. The casinos also reported submitting $12.8 million in wagering taxes and development agreement payments to the City of Detroit during April.

Retail Sports Betting Revenue and Taxes

The Detroit casinos reported retail sports betting total handle of $24,337,682 during April. Total gross receipts were $1,542,530. Retail sports betting qualified adjusted gross receipts by casino were:

  • MGM, $604,701,
  • MotorCity, $420,605,
  • Greektown, $517,224

Qualified adjusted gross receipts are gross sports betting receipts minus the monetary value of free play incentives provided to and wagered by bettors.

The casinos paid $58,308 in retail sports betting taxes to the state and reported submitting $71,265 in retail sports betting taxes to the City of Detroit.

Fantasy Contests

For March, fantasy contest operators reported total adjusted revenues of $889,532 and paid $74,721 in taxes. Through March 31, fantasy contest operators reported total aggregate adjusted revenues of $4.2 million and paid $355,472 in taxes.

 "The Michigan Gaming Control Board shall ensure the conduct of fair and honest gaming to protect the interests of the citizens of the State of Michigan."

 

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