The Michigan Gaming Control Board has released Detroit’s three casinos’ revenue report for June after they were allowed to open to full capacity on June 22.
MGCB released the casinos’ revenue reports for June
The Michigan Gaming Control Board (MGCB) has announced that Detroit’s three casinos have reported $108.1 million in aggregate revenue for June. The control board released the report on Tuesday.
The revenue, as reported by the control board, comes from table games, slots and retail sports betting. Michigan launched its online gambling and sports wagering in January, but these revenue reports come in separately.
For the first six months of 2021, MotorCity reported $4,585,416 in aggregate retail sports betting qualified adjusted gross receipts. Greektown reported $4,546,994 and MGM reported $3,410,243. For Q2 2021, MGM reported $135.7 million, MotorCity reported $115.3 million and Greektown reported $70.2 million. From that, they paid the state $26 million in gaming taxes for the period.
Detroit’s Three Casinos Revenue Reports for June
MotorCity Casino Hotel, MGM Grand Detroit and Greektown Casino were all under the capacity limits due to the pandemic for 21 of 30 days in June. MGM accounted for 44% of the market in June, $46.3 million in gaming revenue. MotorCity’s market share was 35% ($37.2 million) and Greektown came last with 21% ($22.3 million).
The three casinos paid the state collectively $8.6 million in gaming taxes and $12.6 million in wagering taxes and development agreement payments in June. Retail sports betting generated $2.3 million in revenue for the month and the total handle (amount wagered) was more than $24.3 million.
The casinos paid $86,785 in retail sports betting taxes to the state and $106,071 to the city last month.
For June, retail sports betting qualified adjusted gross receipts came in at $680,434 for MGM, $796,206 for MotorCity and $819,272 for Greektown. The receipts subtract the monetary value of free play incentives bettors got.
Working Full Capacity for the First Time since 2020
The Detroit casinos saw the restrictions from the pandemic lifted on June 22, and it was the first time then, since March 2020, that the venues were allowed to operate at full capacity.
Table games and slots at the casinos generated $105.8 million in revenue, which was a 2% decline compared to May. The casinos were closed in June 2020 due to the pandemic, but in 2019, they reported $117.5 million in revenue from table games and slots. Because of COVID-19, last year’s total revenue was 56.1% lower – at $639 million – than the $1.45 billion total a year earlier.