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Detroit casinos report $86.38 million in revenue for February while operating at limited capacity
March 09, 2021
Detroit, March 9, 2021 - The three Detroit casinos reported $86.38 million in monthly aggregate revenue during February while operating at limited capacity due to COVID-19 health concerns. Table games and slots generated $86.46 million in revenue while retail sports betting produced a $77,627 loss.
The market shares were:
- MGM Grand Detroit, 40 percent
- MotorCity Casino, 36 percent
- Greektown Casino, 24 percent
Table Games and Slot Revenue and Taxes
The casinos’ February table games and slots revenue dropped 29 percent compared with February 2020 returns. Monthly revenue was down a fractional 0.4 percent from January results.
Compared with February 2020 results, MGM’s monthly gaming revenue declined 34.6 percent to $34.43 million. MotorCity’s monthly gaming revenue fell 22.9 percent to $31.24 million, and Greektown was down 27.3 percent to $20.79 million.
During February, the Detroit casinos paid the State of Michigan $7 million in gaming taxes compared with $9.9 million for the same month last year.
The three Detroit casinos reported submitting $10.3 million in wagering taxes and development agreement payments to the City of Detroit during February.
Retail Sports Betting Revenue and Taxes
Greektown Casino reported $114,814 in retail sports betting qualified adjusted gross receipts for February. MGM recorded a $8,761 loss, and MotorCity saw a $183,680 loss.
Qualified adjusted gross receipts are gross sports betting receipts minus the monetary value of free play incentives provided to and wagered by bettors.
The casinos reported a total handle of $23,711,983.
The Detroit casinos paid $4,340 in taxes to the state on retail sports betting during February. They also reported submitting $5,304 in retail sports betting taxes to the City of Detroit.
Fantasy contest operators reported total adjusted revenues of $2.2 million and paid taxes of $186,699 for January.
"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."