Detroit’s Casino Industry Suffers 56.1% Revenue Drop in 2020
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The Michigan Gaming Control Board reports a 56.1% year-on-year casino revenue drop in 2020 as a consequence of the pandemic.
Michigan Casino Industry Suffers Losses. Revenue in Detroit's three casinos for 2020 dropped 56.1% year-on-year. Majority of the profits were generated by table games and slots. Retail sports betting brought in $18.3 million. The market was launched on 11 March last year but was shut down only a few days later.
Detroit's casinos suffered a 56.1% revenue drop in 2020. MGM saw the biggest drop with 58.8% and Greektown and Motorcity had the second and third biggest losses. The casinos paid substantially lower wagering taxes to the state and the City of Detroit. BetMGM sportsbook was 2020’s state market leader. Online offerings will likely launch on 19 January.
