Detroit’s three casinos generate June revenue of $106m

Detroit’s three casinos generate June revenue of $106m

Detroit’s three commercial casinos reported $106m in June adjusted gaming revenue, a 2% drop from May.

MGM Grand Detroit, MotorCity Casino Hotel and Greektown Casino operated under COVID capacity limited for the first 21 days of June. On June 22 the state lifted capacity restrictions for the first time since the pandemic initially closed casinos last March.

MGM led the state with $46.4m in adjusted revenue, its most since February 2020, the last full month of operations before the pandemic. MGM saw a slight increase in revenue from May.

MotorCity took in $37.2m in June, which down 2.6% from the prior month. MotorCity has seen steadily decreasing revenue totals since March, when the casino generated $42m.

Greektown rounded out the group with $22.3m in revenue, down 5.5% from May. Like MotorCity, revenue at Greektown has declined each month since March, when it reported $25.6m.

Detroit’s casinos pay a total 19% tax on net win to the state and city. In June the state of Michigan collected $8.6m, while the city of Detroit earned $12.6m.

The Michigan Gaming Control Board reports land-based figures separate for online, including sports betting.

June retail sports wagering handle at the three casinos was $24.4m, a 20.8% improvement from May and the state’s highest retail handle since January, when the casinos took in $35.7m.

Total adjusted revenue was $2.3m, up 31.4% from May.

MotorCity/FanDuel led the state with $8.5m in handle while placing second in adjusted revenue with $796,000. MGM/BetMGM generated $8.1m in handle with adjusted revenue of $680,000, while Greektown/Barstool placed last in handle with $7.8m but first in adjusted revenue at $819,000.

Source: Gaming America


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