Detroit Casinos Report $113.82M in Revenue During August

Detroit Casinos Report $113.82M in Revenue During August

Detroit’s three casinos have reported $113.82 million in monthly aggregate revenue in August, revealed on Tuesday the Michigan Gaming Control Board. Table games and slots generated $112.17 million in revenue, while retail sports betting posted $1.65 million in revenue.

All properties reported higher monthly revenue when compared to August 2020. MGM Grand Detroit saw $52.24 million in gaming revenue, up 82.4%, totaling 47% market share. MotorCity Casino Hotel posted $36.52 million, up 45.9%, and 32% share. Lastly, Greektown Casino-Hotel saw revenue of $23.41 million, up 49.2%, and 21% market share.

When compared to the prior-year period, August table games and slots revenue was 61.7% higher. The casinos reopened in early August 2020 at 15% capacity following more than four months of closure due to COVID-19 related restrictions. Year-to-date gaming revenue for table games and slots in Detroit rose 126% compared with the first eight months of 2020.

During August, the three casinos paid $9.1 million in gaming taxes to the State of Michigan, up when compared to $5.6 million during August 2020. Moreover, $13.3 million in wagering taxes and development agreement payments were reported to the City of Detroit during said month.

Retail sports betting qualified adjusted gross receipts (QAGR) for August fell 16.5% compared with the same month last year, but up 36.2% compared with July 2021. Total handle equaled $16,2 million, while total gross receipts were $1,6 million.

Source: YogoNet


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