Detroit casinos produce $1.29 billion in aggregate revenue during 2021
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Gaming News
11 January 2022
(PRESS RELEASE) -- The three Detroit casinos reported $1.294 billion yearly revenue in 2021. Slots generated 77% of revenue at $998.8 million, table games provided 21% of revenue at $268 million and retail sports betting added 2% of revenue at $26.95 million.By comparison, the casinos produced nearly $639 million in aggregate revenue in 2020 and a record $1.454 billion in 2019.The 2021 market shares were:
- MotorCity Casino, 35%
- Greektown Casino Hotel, 22%
Table Games and Slot Revenue and Taxes - 2021
Year-over-year gaming revenue for slots and table games rose 104.2% to $1.27 billion. MGM Grand Detroit's revenue rose 115.5% to $554 million. MotorCity Casino's revenue was up 96.8% to $438.3 million. At Greektown Casino, revenue was up 95.2% to $274.5 million.During 2021, the three Detroit casinos paid $102.6 million in wagering taxes to the State of Michigan compared with $50.3 million in 2020 on slots and table games revenue.The three Detroit casinos reported making $160.8 million in wagering taxes and development agreement payments on slots and table games revenue to the City of Detroit in 2021.Retail Sports Betting and Taxes - 2021
The three casinos reported aggregate retail sports betting qualified adjusted gross receipts of $26.95 million. The breakdown by casino was:- MGM, $8.79 million- MotorCity, $8.69 million- Greektown, $9.47 millionQualified adjusted gross receipts are gross sports betting receipts minus the monetary value of free play incentives provided to and wagered by bettors.The three Detroit casinos in 2021 paid $1 million in taxes for retail sports betting to the State of Michigan compared with $690,865 in 2020. They reported submitting $1.26 million in retail sports betting taxes to the City of Detroit.December 2021 results
The three casinos reported $112.5 million in monthly aggregate revenue in December. Table games and slots generated $111.4 million in revenue while retail sports betting produced $1.1 million in revenue.December 2021 table games and slots revenue was 405% higher than revenue produced in December 2020 when the casinos were closed from Dec. 1 through Dec. 23 because of an epidemic order. Revenue for table games and slots also was up 7.2% compared with November numbers.December revenue rose 576.5% to $51.4 million for MGM compared with December 2020 results. MotorCity's December revenue was up 284.9% to $35 million, and Greektown monthly revenue was up 365.9% to $25 million compared with December 2020.During December, the three Detroit casinos paid $9 million in wagering taxes to the State of Michigan compared with $1.8 million paid in December 2020. The three Detroit casinos reported making $18.1 million in wagering taxes and development agreement payments to the City of Detroit in December.Retail Sports Betting Revenue and Taxes - December
Retail sports betting qualified adjusted gross receipts (QAGR) $1.1 million fell 41.3% in December compared with December 2020 results. The breakdown by casino was:- MGM, $631,703- MotorCity, -$150,664- Greektown, $624,849Total handle was $30,071,942, and total gross receipts were $1,155,678.The State of Michigan received $47,498 in taxes, and the three Detroit casinos reported submitting $58,053 in retail sports betting taxes to the City of Detroit.Fourth Quarter Table Games and Slot Revenue and Taxes
The three Detroit casinos' fourth quarter aggregate revenue was up 99.3% compared to the fourth quarter of 2020 when the casinos were closed from Nov. 18 through Dec. 23. Quarterly gaming revenue for MGM was up 131.4% to $152.3 million, MotorCity saw a 67% increase to $105 million and Greektown reported a 97% increase to $69.4 million.For the quarter ended December 2021, the three Detroit casinos paid $26.5 million in gaming taxes to the state compared with $13.3 million for the same period last year.Fantasy Contests
During November, fantasy contest operators reported total adjusted revenues of $1.5 million and paid taxes of $127,348.Through November 30, fantasy contest operators reported $15.4 million in aggregate fantasy contest adjusted revenues and paid $1.3 million in taxes to the state in 2021.
