January 12, 2021
Detroit, Jan. 12, 2021 - The three Detroit casinos reported nearly $639 million in aggregate revenue during 2020 compared with a record $1.454 billion yearly revenue in 2019. Table games and slots generated 97 percent of revenue at $620.4 million while retail sports betting provided 3 percent of revenue at $18.3 million during 2020. Year-over-year revenue fell 57.3 percent compared with 2019 results.
Because of public health concerns, the Detroit casinos were closed from 3 p.m. March 16 through August 4 and from Nov. 18 through Dec. 22. The casinos operated at limited capacity from early August to mid-November and reopened in late December at limited capacity under an epidemic order issued by the Michigan Department of Health and Human Services.
Table Games and Slot Revenue and Taxes - 2020
Year-over-year gaming revenue for MGM dropped 58.8 percent to $257.1 million. MotorCity's year-over-year revenue declined 54.9 percent to $222.7 million, and Greektown's year-over-year results were down 58.3 percent to $140.6 million. Slots provided 78 percent of revenue and table games contributed 19 percent.
The 2020 market shares were:
During 2020, the three Detroit casinos paid $50.3 million in wagering taxes to the State of Michigan compared with $117.8 million paid in 2019 on slots and table games revenue.
The three Detroit casinos reported making $73.8 million in wagering taxes and development agreement payments to the City of Detroit during 2020.
Retail Sports Betting and Taxes - 2020
The three casinos reported aggregate retail sports betting qualified adjusted gross receipts of $18.3 million for 2020. The breakdown by casino was:
The casinos reported a total handle of $130.8 million during 2020.
Qualified adjusted gross receipts are gross sports betting receipts minus the monetary value of free play incentives provided to and wagered by bettors.
The three casinos paid $690,865 in taxes for retail sports betting to the State of Michigan in 2020 and reported submitting $844,391 in retail sports betting taxes to the City of Detroit.
December 2020 Results
The three Detroit casinos reported $23.93 million in monthly aggregate revenue in December while operating at limited capacity for nine days due to COVID-19 health concerns. Table games and slots generated $22.05 million in revenue while retail sports betting produced $1.88 million in revenue.
Table Games and Slot Revenue and Taxes
The casinos’ revenue for table games and slots during December fell 82.8 percent compared with December 2019 results. Monthly revenue was down 54.1 percent compared with November results.
December revenue dropped 86 percent to $7.59 million for MGM compared with December 2019 numbers. MotorCity’s December revenue declined 79 percent to $9.09 million, and Greektown revenue was down 82.1 percent to $5.37 million compared with December 2019.
During December, the three Detroit casinos paid $1.8 million in wagering taxes to the State of Michigan compared with $10.4 million paid in December 2019.
The three Detroit casinos reported making $2.6 million in wagering taxes and development agreement payments to the City of Detroit during December 2020.
Retail Sports Betting Revenue and Taxes
The three casinos reported $1.88 million in retail sports betting qualified adjusted gross receipts for December. The breakdown by casino was:
The casinos reported a total handle of $9,720,393.
During December, the casinos paid $71,186 in retail sports betting taxes to the state of Michigan and reported submitting $87,006 in retail sports betting taxes to the City of Detroit.
Fourth Quarter Table Games and Slot Revenue and Taxes
The three Detroit casinos' fourth-quarter revenue of $163.9 million was 55.4 percent lower than fourth quarter 2019 results, and the state was paid $13.3 million in taxes compared with $29.8 million for the fourth quarter of 2019. The casinos reported making $19.5 million to the City of Detroit in wagering taxes and development agreement payments during the fourth quarter compared with $50.3 million during the fourth quarter of 2019.
|
Casino |
4Q Revenue (in millions) |
Q4 Percentage Decline 2020 vs. 2019 |
|
MGM Grand Detroit |
$65.8 |
58.1 |
|
MotorCity Casino |
$62.9 |
49.1 |
|
Greektown Casino |
$35.2 |
59.5 |
Fantasy Contests
For November, fantasy contest operators reported total adjusted revenues of $2.2 million and paid taxes of $188,543.
Through November 30, fantasy contest operators reported $14.7 million in aggregate fantasy contest adjusted revenues and paid $1.2 million in taxes to the state.
"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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