Detroit Casinos Report $113.8M in March Monthly Revenue

GreatLakesStakes.com

By Bryce Derouin

Detroit’s three commercial casinos saw a bump in revenue for March. The casinos reported $113.8 million in monthly aggregate revenue, up 28.2% compared to February’s $86.5 million.

Table and slots generated $110.8 million of the revenue, while retail sports betting came in at $2.9 million in revenue, according to figures released Tuesday by the Michigan Gaming Control Board.

MGM Grand Detroit led the market share with 39%, with MotorCity slightly behind at 38% and Greektown coming in with 23%. MGM’s revenue totaled $43.2 million, with MotorCity at $42 million and Greektown at $25.6 million. All three saw substantial increases from last March which marked the start of the coronavirus pandemic. Each of the three casinos was forced to close on March 16, 2020, due to health and safety concerns.

Taxes, Quarterly Revenue

For March, the three Detroit casinos paid $9 million in gaming taxes to the state and submitted $13.2 million in wagering taxes and development agreement payments to the city of Detroit.

Overall quarterly revenue from the first quarter was down 5.1% compared to the same time last year. Quarterly gaming revenue for MGM was $111.6 million, $106.5 million for MotorCity and $66.1 million for Greektown.

Retail Sports Betting

Retail sports betting bounced back in Michigan after the casinos reported a $77,627 loss in February. For March, retail sports betting produced $2.9 million in revenue.

MotorCity had the highest sports adjusted gross receipts in March at $1,276,470, beating out MGM ($868,206) and Greektown ($825,479).

The total sports betting handle for the three casinos came in at $24,241,730, up from February’s $23,711,983.

The state received $112,272 in taxes on the retail sports betting revenue from the three Detroit casinos, while the city of Detroit accepted $137,221 in retail sports betting taxes.

Through March 31, aggregate retail sports betting qualified adjusted gross receipts were at $6.96 million. MotorCity leads the way at $2,658,808, followed by Greektown ($2,573,952) and MGM ($1,722,884).

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WRITTEN BY
GreatLakesStakes.com
Bryce Derouin
Bryce joined GreatLakesStakes.com after spending the last nine years covering high school and college sports throughout Michigan. He’s served as the primary Division II beat writer for Grand Valley State and Michigan Tech. Along with his newspaper background, he's worked in marketing and has experience covering casinos and gambling.
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Bryce joined GreatLakesStakes.com after spending the last nine years covering high school and college sports throughout Michigan. He’s served as the primary Division II beat writer for Grand Valley State and Michigan Tech. Along with his newspaper background, he's worked in marketing and has experience covering casinos and gambling.
... Read More