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Detroit casinos report $110.4 million in aggregate revenue for September12 October 2021(PRESS RELEASE) -- The three Detroit casinos reported $110.4 million in monthly aggregate revenue for September. Table games and slots generated $106.9 million in revenue, and retail sports betting produced $3.5 million in revenue. The September market shares were: - MGM Grand Detroit Casino, 45% - MotorCity Casino, 34% - Greektown Casino Hotel, 21% The Detroit casinos reported $87.9 million in monthly aggregate revenue during September 2020 while operating at 15 percent capacity due to COVID-19 health concerns. In September 2019, the casinos reported $112.3 million in monthly aggregate revenue. Table Games and Slot Revenue and Taxes Monthly table games and slot revenue rose 21.6% from revenue reported for September 2020. September monthly revenue fell 4.7% compared with August results. Compared with September 2020 results, monthly gaming revenue rose for all three casinos: - MGM, 34% to $48.4 million - MotorCity, 13.4% to $36.5 million - Greektown, 12.4% to $22 million Through 30 September, table games and slot gaming revenue rose 105.9% compared with results for the same nine months in 2020. The three casinos paid $8.7 million in gaming taxes to the State of Michigan during September compared with $7.1 million for the same month last year. The three Detroit casinos reported submitting $16.8 million in wagering taxes and development agreement payments to the City of Detroit during September. Third Quarter Table Games and Slot Revenue Aggregate revenue was up 112.9% during the third quarter compared with the same period last year. Quarterly gaming revenue rose at each casino compared with the third quarter of 2020: - MGM, $154.4 million, up 138.4% - MotorCity, $111.6 million, up 95% - Greektown, $68.8 million, up 95% During the third quarter, the three Detroit casinos paid $27.1 million in gaming taxes to the State of Michigan compared with $12.7 million for the same period last year. Retail Sports Betting Revenue and Taxes Retail sports betting qualified adjusted gross receipts (QAGR) for September dropped 20.9% compared with September 2020 results. QAGR rose 109.8% compared with August 2021. September QAGR results by casino were: - MGM, $1,341,262 - MotorCity, $1,237,488 - Greektown, $883,813 The casinos reported a total handle of $32,528,487, and total gross receipts were $3,459,841. The casinos paid $130,885 in retail sports betting taxes to the State of Michigan and reported submitting $159,970 in taxes to the City of Detroit. Through September 30, aggregate retail sports betting qualified adjusted gross receipts were: - MGM, $5,740,373 - MotorCity, $6,693,261 - Greektown, $6,433,442 Fantasy Contests During August, fantasy contest operators reported total adjusted revenues of $920,250 and paid taxes of $77,301 to the state. Fantasy contest operators reported $10.4 million in aggregate fantasy contest adjusted revenues and paid $869,543 in state taxes through Aug. 31. |