Detroit Retail Casinos Record $108.1 Million in June Revenue

GreatLakesStakes.com

By Bryce Derouin

In the final month with COVID-19 restrictions in place, the three Detroit casinos reported $108.1 million in monthly aggregate revenue for June.

Table games and slots produced $105.8 million in revenue, while retail sports betting generated $2.3 million in revenue at the MI land-based casinos.

The retail MI sports betting handle came in at $24.4 million in June, up 20.8% from May’s $20.2 million. Michigan’s June handle nearly mirrored April’s $24.3 million.

CHECK OUT: Exclusive Report: Michigan's Favorite Casinos Ranked

MGM Grand Detroit, MotorCity Casino and Greektown Casino operated at limited capacity for 21 of 30 days due to COVID-19 health concerns. Capacity limitations for Michigan gambling at casinos were lifted on June 22, allowing the facilities to operate without restrictions for the first time since the start of the pandemic.

MGM, which has an MI BetMGM online casino, held the largest share of the market at 44%, with MotorCity second at 35% and Greektown taking in 21%.

Retail Sports Betting

Total, the three casinos reported retail sports betting gross receipts of $2.3 million to go along with the sports betting handle of $24.4 million.

Greektown reported the highest total of sports betting qualified adjusted gross receipts in June with $819,272. MotorCity was second at $796,206 and MGM was third at $680,434.

The state received $86,785 in retail sports betting taxes from the casinos, while the city of Detroit took in $106,071. Taxes on gambling income — whether from land-based Detroit casinos, tribal casinos or on the state’s online casino sites — should be reported on federal and state income tax returns.

Table Games, Slots Revenue

Overall table game and slots revenue fell 2% from May’s total. MGM recorded the highest gaming revenue at $46.3 million and was followed by MotorCity ($37.2 million) and Greektown ($22.3 million). For the second quarter, MGM reported the highest gaming revenue at $135.7 million. MotorCity took in $115.3 million during the second quarter, while Greektown had $70.2 million.

Casinos were shut down in June 2020 due to the pandemic, but revenue figures are nearing the pre-pandemic totals. In June 2019, the Detroit casinos reported $117.5 million in table games and slots revenue.

For this June, the three Detroit casinos paid $8.6 million in gaming taxes to the state and submitted $12.6 million in wagering taxes and development agreement payments to the city of Detroit.

MI real-money slots have also proven popular with online casino players.

Fantasy Contests

For May, fantasy contest operators in Michigan reported $1.3 million in total adjusted revenues and paid $105,859 in taxes.

Fantasy contest operators reported $7 million in aggregate fantasy contest adjusted revenues through May and paid $586,938 in taxes.

quote
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.
... Read More
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