Detroit casinos earn $110.4m in aggregate revenue for September
$6,000 Welcome Bonus
Detroit’s three casinos reported $110.4m in monthly aggregate revenue for September. Table games and slots generated $106.9m in revenue, and retail sports betting produced $3.5m in revenue.
September’s $110.4m is up on the previous year’s $87.9m monthly aggregate revenue, achieved while operating at 15% capacity due to COVID-19 health concerns. The casinos reported $112.3m in monthly aggregate revenue in September 2019.
In terms of market share, MGM had the most with 45%, followed by MotorCity with 34%, and Greektown with 21%. Compared with September 2020 results, monthly gaming revenue rose for all three casinos. MGM grew by 34% to $48.4m, MotorCity jumped by 13.4% to $36.5m, and Greektown improved by 12.4% to $22m.
Monthly table games and slot revenue rose 21.6% year-over-year, while September monthly revenue fell 4.7% compared with August results. Through September 30, table games and slot gaming revenue rose 105.9% compared with results for the same nine months in 2020.
The three casinos paid $8.7m in gaming taxes to the State of Michigan during September compared with $7.1m for the same month last year.
The Detroit trio of casinos reported submitting $16.8m in wagering taxes and development agreement payments to the City of Detroit during September.
Retail sports betting qualified adjusted gross receipts (QAGR) for September dropped 20.9% compared with September 2020 results. QAGR rose 109.8% compared with August 2021.
By casino, MGM recorded $1,341,262 in September QAGR, followed by MotorCity with $1,237,488, and Greektown with $883,813. The casinos reported a total handle of $32,528,487, and total gross receipts were $3,459,841, paying $130,885 in retail sports betting taxes to the State of Michigan and submitting $159,970 in taxes to the City of Detroit.
For the third quarter, aggregate revenue for the three casinos was up 112.9% compared to Q3 2020.
Quarterly gaming revenue rose at each casino compared to the same period last year. MGM reported $154.4m in gaming revenue (up 138.4%), MotorCity reported $111.6m (up 95%), while Greektown announced $68.8m (up 95%). The three casinos paid $27.1m in gaming taxes to the State of Michigan (Q3 2020: $12.7m).
Aggregate retail sports betting qualified adjusted gross receipts on the year so far were $5,740,373 for MGM, $6,693,261 for Motor City, and $6,433,442 for Greektown.
During August, fantasy contest operators reported total adjusted revenues of $920,250 and paid taxes of $77,301 to the state. Operators reported $10.4m in aggregate fantasy contest adjusted revenues and paid $869,543 in state taxes through August 31.
