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US – Detroit casinos generate $69.3m aggregate revenue in August

By - 15 September 2020

The three Detroit casinos reported $69.3m in monthly aggregate revenue in August after reopening at 15 per cent capacity following a 4.5-month shutdown due to COVID-19 health concerns. The casinos’ aggregate revenue for slots and table games was down 42 per cent compared with August 2019 results and has declined 62 per cent year to date against last year.

Compared with August 2019 results, revenue fell 46 percent to $28.6 million at MGM Grand Detroit Casino, 37.5 percent to $25 million at MotorCity Casino and 41.5 percent to $15.7m at Greektown Casino Hotel.

Governor Gretchen Whitmer issued an executive order on 29 July allowing the casinos to reopen under strict health and safety guidelines. MotorCity Casino and Greektown Casino reopened August 5. MGM Grand reopened to the general public 7 August.

The market shares during August were MGM with 41 per cent, MotorCity with 36 per cent and Greektown with 23 per cent. During August, the three Detroit casinos paid $5.6m in taxes to the State of Michigan compared with $9.7m for the same month last year.

The three Detroit casinos reported submitting $8.3m in wagering taxes and development agreement payments to the City of Detroit during August.

Retail Sports Betting Revenue and Taxes

The three casinos reported $1.97m in sports betting gross receipts during August with the state receiving $74,733 in retail sports betting taxes from the Detroit casinos during August. The casinos reported submitting $91,340 in retail sports betting taxes to the City of Detroit. Fantasy contest operators reported total adjusted July revenues of $881,204 and paid taxes of $74,021 to the State of Michigan (see full report here).

Year to date through 31 July, fantasy contest operators reported $4.9m in aggregate fantasy contest adjusted revenues and paid the State of Michigan $414,445 in taxes.

Two of Detroit’s casinos are now planning to reopen their poker rooms. MotorCity Casino sent out an email saying ‘Detroit’s best Poker Room reopens next week.’ Greektown Casino said its poker room will be ‘back up in a few weeks.’

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