Detroit Casinos Report Revenue of $ 113.82 Million for August

The monthly combined revenue of the three Detroit casinos in August amounted to $ 113.82 million, the Michigan Gaming Control Board reported on Tuesday. Revenue from table games and slot machines amounted to $ 112.17 million, and from retail sports betting – $ 1.65 million.

All properties reported higher monthly income compared to August 2020 . MGM Grand Detroit’s revenue from games amounted to $ 52.24 million, an increase of 82.4%, which is 47% of the market share. MotorCity Casino Hotel invested $ 36.52 million, which is 45.9% more, and its share was 32%. Finally, the revenue of the Greektown hotel-Casino was $ 23.41 million, which is 49.2% more, and the market share is 21%.

Compared to the previous year, revenue from table games and slot machines was 61.7% higher in August . The casinos reopened in early August 2020 with a 15% load after more than four months of closure due to restrictions related to COVID-19. Annual revenue from table games and slot machines in Detroit increased by 126% compared to the first eight months of 2020.

During August, three casinos paid the state of Michigan $ 9.1 million in gambling taxes, which is more than $ 5.6 million in August 2020. In addition, during the specified month, the City of Detroit was informed about $ 13.3 million in taxes on rates and payments under construction agreements.

The adjusted gross revenue (QAGR) of retail sports betting in August fell by 16.5% compared to the same month last year , but increased by 36.2% compared to July 2021. The total processing amount was US $ 16.2 million, and the total gross revenue was US $ 1.6 million.

Source: YogoNet

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