Motorcity Casino Detroit

MGM Grand Detroit has maintained its position at the top of the gaming charts in July, as the Michigan Gaming Control Board documents the performance of the three Detroit-based casinos through the month. 

This saw the trio record $116.9m in monthly aggregate revenue through the 31 days, with table games and slots coming in at $115.7m and retail sports betting generating $1.2m.

Revenue through July came in at 9.3 per cent higher than the $108.1m detailed one month earlier, however, a slight drop has been felt from 2019’s $119m performance. The three Detroit casinos were closed during July 2020 due to COVID-19 restrictions. 

During the month, MGM Grand Detroit recorded $53.8m (May: $46.3m) in revenue, with MotorCity Casino someway behind with $38.5m (May: $37.2m), and Greektown Casino closing the month with $23.4m (May: $22.3m). Market shares for the three closed at 46 per cent, 34 per cent, and 20 per cent, respectively.

The casinos paid $9.4m in gaming taxes to the state of Michigan during July, and reported submitting $13.8m in wagering taxes and development agreement payments to the city of Detroit.

Total sports betting handle came in at $18.2m (May: $24.3m), with the casinos also reporting total gross receipts of $1.21m, which is down from the $2.29m felt through May. 

Retail sports betting qualified adjusted gross receipts by casino were MotorCity’s $637,681, Greektown’s $437,203, and MGM’s $136,948.

The casinos paid $45,807 in state taxes on retail sports betting during July, and also reported submitting $55,987 in retail sports betting taxes to Detroit.

Furthermore, the MGCB also detailed that fantasy content operators reported total adjusted revenues of $1.31m and paid $110,245 in taxes.

Through July 31, fantasy contest operators reported $8.3m in total aggregate fantasy contest adjusted revenues, and paid $697,183 in taxes this year.