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US – Detroit’s casinos down 29 per cent from before the pandemic

By - 10 March 2021

The three Detroit casinos reported $86.38m in monthly aggregate revenue during February while operating at limited capacity due to COVID-19 health concerns.

Table games and slots generated $86.46m in revenue while retail sports betting produced a $77,627 loss.

MGM Grand Detroit Casino had 40 per cent of the market, MotorCity Casino had 36 per cent and Greektown Casino Hotel had 24 per cent

The casinos’ February table games and slots revenue dropped 29 per cent compared with February 2020 returns. Monthly revenue was down a fractional 0.4 per cent from January results. Compared with February 2020 results, MGM’s monthly gaming revenue declined 34.6 per cent to $34.43m. MotorCity’s monthly gaming revenue fell 22.9 per cent to $31.24m, and Greektown was down 27.3 per cent to $20.79m. During February, the Detroit casinos paid the State of Michigan $7m in gaming taxes compared with $9.9m for the same month last year.

The three Detroit casinos reported submitting $10.3m in wagering taxes and development agreement payments to the City of Detroit during February. 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.

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