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Detroit casinos see revenue drop

8 June 2020

(PRESS RELEASE) -- The three Detroit casinos’ year-to-date aggregate revenue of $299.2 million was down by 51.6 percent through May compared with $617.9 million in aggregate revenue reported for the same five-month period last year.

The casinos did not produce revenue in May because they were ordered to remain closed due to COVID-19 health concerns. Gov. Gretchen Whitmer’s Executive Order 2020-110 continues the closure of the casinos until further notice.

Casino/ YTD 2020 Revenue (in millions)/ YTD 2019 Revenue (in millions)/ YTD Change in Revenue from Previous Year (in millions)/YTD Percentage Comparison (+ or -)

MGM Grand Detroit Casino/$126.5/$264.4/- $137.9/- 52.1%

MotorCity Casino/$102.6/$210.6/- $108.0/- 51.3%

Greektown Casino Hotel/$70.1/$142.9/- $72.8/- 50.9%

Total/$299.2/$617.9/- $318.7/- 51.6%

Taxes and Other Payments

Through May 31, the three Detroit casinos paid $24.2 million in state gaming taxes compared with $50 million for the same period last year. The result is a $25.8 million decrease in tax payments.

The three Detroit casinos reported submitting $35.6 million in wagering taxes and development agreement payments to the City of Detroit through May compared with $73.5 million for the same period last year. The result is a $37.9 million decrease in payments to the city.

Fantasy Contests

For the month ended April 30, fantasy contest operators reported total adjusted revenues of $184,289 and paid the state $15,480 in taxes.

Year-to-date through April, fantasy contest operators reported aggregate adjusted revenues of $3.1 million and paid $263,643 in taxes.

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