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Big numbers in September for Detroit casinos

14 Oct 2020

(PRESS RELEASE) -- The three Detroit casinos reported $87.9 million in monthly aggregate revenue in September while continuing to operate at 15% capacity due to COVID-19 health concerns. The casinos’ aggregate revenue for slots and table games was down 21.7 percent compared with September 2019 results and has declined 58 percent year to date against last year.

Compared with September 2019 results, revenue fell by 22.3 percent to $36.1 million at MGM Grand Detroit, 17.3 percent to $32.2 million at MotorCity and 27.2 percent to $19.6 million at Greektown.

Month-over-month revenue for September was up 26.8 percent compared with August numbers for the three casinos.

The market shares during September were:

- MGM, 41 percent

- MotorCity, 37 percent

- Greektown, 22 percent

For the third quarter, the three casinos’ aggregate revenue of $157.3 million was down 55.2 percent compared with the same period last year. Quarterly revenue dropped 57.2 percent at MGM Grand Detroit, 52.2 percent at MotorCity Casino and 56.1 percent at Greektown Casino.

The casinos were closed throughout July. MotorCity Casino and Greektown Casino reopened Aug. 5. MGM Grand reopened to the general public 7 August.

Gaming Taxes

During September, the three Detroit casinos paid $7.1 million in taxes to the State of Michigan compared with $9.1 million for the same month last year.

The three Detroit casinos reported submitting $10.5 million in wagering taxes and development agreement payments to the City of Detroit during September.

Retail Sports Betting Revenue and Taxes

The three casinos reported $4.4 million in qualified adjusted gross receipts during September:

- MGM, $2,096,337

- MotorCity, $1,557,561

- Greektown, $722,509

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

The state received $165,428 in retail sports betting taxes from the Detroit casinos during September. The casinos reported submitting $202,190 in retail sports betting taxes to the City of Detroit.

Year to date through September 30, aggregate retail sports betting qualified adjusted gross receipts were:

- MGM Grand Detroit Casino, $3,113,634

- MotorCity Casino, $2,055,785

- Greektown Casino Hotel, $1,289,589

Fantasy contest operators reported total adjusted August revenues of $2.3 million and paid taxes of $189,875 to the State of Michigan (see full report here).

Year to date through August 31, fantasy contest operators reported $7.2 million in aggregate fantasy contest adjusted revenues and paid the State of Michigan $604,321 in taxes.
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