Detroit's three casinos report $1.2B in land-based revenue in 2021, below pre-pandemic
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According to numbers released Tuesday by the Michigan Gaming Control Board, Detroit’s three casinos have reported $1.294 billion in aggregate revenue in 2021, surpassing 2020 results, which were significantly impacted by the pandemic. However, they fell short of 2019’s record total.
2021’s revenue total exceeds the nearly $639 million in aggregate revenue the three casinos - MGM Grand Detroit, MotorCity Casino and Greektown Casino - generated in 2020. In 2019, the casinos generated a record $1.454 billion in revenue.
Slots generated $998.8 million and accounted for 77% of 2021 revenues.Table games, on the other hand, brought in $268 million and retail sports betting produced revenue of $26.95 million. The totals do not include revenue from online gambling, which is reported separately.
MGM Grand Detroit led with 43% market share last year. MotorCity Casino closed the year with 35% market share, while Greektown Casino had 22%.
Compared to the same period in the previous year, revenue tied to slots and table games rose 104.2% to $1.27 billion in 2021. All three casinos reported gaming revenues up nearly or more than 100% compared to 2020. MGM Grand Detroit reported $554 million in gaming revenue. MotorCity reported $438.3 million, and Greektown reported $274.5 million.
The three casinos paid $102.6 million in wagering taxes on slots and table games revenue to the state of Michigan last year, up more than 100% from 2020’s $50.3 million. They reported making $160.8 million in wagering taxes and development agreement payments on slots and table game revenue to the city in 2021.
When it comes to retail sports betting, the casinos collectively reported qualified adjusted gross receipts of $26.95 million last year. Greektown, home to the Barstool Sportsbook, led with $9.47 million. MGM brought in $8.79 million and MotorCity reported $8.69 million.
The Detroit casinos paid $1 million in taxes tied to retail sports betting to the state last year, up from $690,865 in 2020. They paid $1,26 million in retail sports betting taxes to the city.
For the fourth quarter of 2021, aggregate revenue at the casinos was up 99.3% year-over-year. In December, the three casinos reported $112.5 million in monthly aggregate revenue.
