During August, three Detroit Casinos brought in $113.82 million in cumulative monthly revenue. This is according to reports by the Michigan Gaming Control Board on Tuesday 14th September 14th, 2021.
The casino industry amassed $112.17 million in revenue from the table and slots games at MotorCity Casino Hotel, Greektown Casino and MGM Grand Detroit. The Casinos also produced a revenue of $1.65 million from retail sports betting (non-gaming activities).
Comparison to the Net Revenue Detroit Casinos Brought in July
In July, three Detroit casinos generated total revenue of $116.9 million and had an average daily gaming handle of $2.4 million per day. The casino industry generated total revenues of $119 million during July 2019, which is incomparable to the revenue during July 2020 when all the casinos were shut down due to COVID-19 health restrictions.
Based on the Michigan Gaming Control Board, table games and slot machine-amassed revenues at $115.7 million. During that same period, non-gaming activities produced $1.2 million in net income for Detroit state.
August 20201 Market Shares for the Three Detroit Casinos
MGM Grand Detroit Casino is a large resort and entertainment complex located in Detroit, Michigan. It opened on 26th May 1999, as MGM Grand Detroit. The $1 billion project was developed by MGC Enterprises, with construction beginning in 1998. In addition to its gaming operations, it also contains several restaurants, shops, bars, nightclubs, an ice rink, and other attractions. The MGM Grand Detroit casino had a 47 percent market share in August.
The Motor City Casino Hotel is a full-service casino located in downtown Detroit Michigan with over 1,000 slot machines, 100 table games, live entertainment, restaurants, bars, nightclubs, shopping, spa services, and more! It’s one of the largest casinos in America. The Motor City casino had a 32 percent market share in August.
The Greektown Casino & Brewery is an upscale gaming resort that offers guests a variety of exciting amenities, including two dining options, three lounges, four pools, a fitness center, a golf course, an arcade room, sports bar, and much more. Guests can enjoy all this in their free time while playing some of the most popular slots and video poker titles available on the bookmaker. The Greektown Casino & Brewer casino had a 21 percent market share in August.
Detroit Casino’s Table Games & Slots Revenue and Taxes
The Michigan Gaming Control Board reported a revenue of 61.7% higher than that in August 2020. That is because the three casinos re-opened at a 15 percent capacity in early August 2020 as the state tried to combat the covid-19 pandemic. However, as of 2021, the casinos have resumed entire capacity operations.
The three Detroit Casinos increased their gaming revenue for table games and slots by 126 percent. That is higher when compared with the revenue in the first eight months of 2020.
The monthly gaming revenue for MGM Grand Detroit Casino was $52.24 million, which is an 82.4 percent increase to that in August 2020. The Motor City Casino Hotel gaming revenue rose by $36.52 million, a 45.9 percent increase. Lastly, the Greektown Casino & Brewery revenue was $23.41 million, a 49.2% increase.
Detroit Casino’s Retail Sports Betting Gross Income and Taxes
The last month’s retail sports betting gross receipts (QAGR) fell by 16.5% compared to August 2020. The gross income was up to 36.2% compared with July 2021.
The three Detroit Casinos’ QAGR fo the last month totaled:
- MGM Grand Detroit Casino was $851,920
- Motor City Casino Hotel gaming was $232,675
- Greektown Casino & Brewery was $565,432
The Michigan Gaming Control Board reported that the casinos had a handle of $16,288,170 with total gross receipts of $1,648,581.
The Detroit Casinos paid state taxes of $62,371 on non-gaming activities (retail sports betting). The casinos also submitted taxes amounting to $76,231 in retail sports betting to the City of Detroit.
The aggregate QAGR for August totaled:
- MGM Grand Detroit Casino was $4,399,111,
- Motor City Casino Hotel gaming $5,455,773,
- Greektown Casino & Brewery was $5,549,629
The three Detroit Casinos announced total revenues of $1,124,275, with paid taxes amounting to $94,439 in July. As of 31st July, the revenues adjusted to $9.4 million, and $792,242 in taxes were paid.