Detroit casinos produce $1.29 billion in aggregate revenue during 2021

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.