Detroit Casinos Report $101.4 Million Revenue in October, 18.9% Drop Year-on-Year

Aggregated revenue from Detroit’s three casinos totaled $101.4 million while operating at 15% since reopening this summer.

October Results Better Than September

Detroit’s three casinos reported $101.4 million in revenue in October. Compared with September’s results, revenue increased by 6.7%. Casinos still operate at 15% capacity to limit the spread of Covid-19.

Slot machines and table games generated $93.8 million in turnover, while retail sports betting brought $7.6 million profit. This is an 18.9% drop year-on-year slots and table games in October.

Detroit casinos reported an aggregated revenue of $1.2 billion from January to October 2019 for table games and slots. This year, operators reported a 54.2% drop to $550 million.

For September, Detroit’s casinos reported $87.9 million in gambling revenues, and $4.4 million in sports betting adjusted gross receipts.

According to October 2020’s results, MGM Grand Detroit’s gaming revenue fell by 22.7% to $37.8 million year-on-year, amid rumors that a second closure may be on the cards. MotorCity Casino Hotel reported a 7.7% decrease to $36.3 million. Greektown Casino-Hotel’s revenue also dropped by 28.2% to $19.7 million.

MGM Grand Detroit is Still The City’s Top Casino

Adjusted gross receipts for sports betting in October totaled $7.6 million: $3.7 million for MGM, $2.2 million for MotorCity, and $1.7 million for Greektown. The three casinos paid $7.6 million in state taxes for October, against $9.4 million last year. They also paid $11.2 million to the city of Detroit for taxes, development, and agreement payments.

MGM holds the most market shares for table games, slots, and retail sports betting in October, with 41%. MotorCity and Greektown stand at 38% and 21%, respectively.

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