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Detroit casinos report February revenue numbers9 March 2021(PRESS RELEASE) -- The three Detroit casinos reported $86.38 million in monthly aggregate revenue during February while operating at limited capacity due to COVID-19 health concerns. Table games and slots generated $86.46 million in revenue while retail sports betting produced a $77,627 loss. The market shares were: - MGM Grand Detroit Casino, 40% - MotorCity Casino, 36% - Greektown Casino Hotel, 24% Table Games and Slot Revenue and Taxes The casinos’ February table games and slots revenue dropped 29% compared with February 2020 returns. Monthly revenue was down a fractional 0.4% from January results. Compared with February 2020 results, MGM’s monthly gaming revenue declined 34.6 percent to $34.43 million. MotorCity’s monthly gaming revenue fell 22.9% to $31.24 million, and Greektown was down 27.3% to $20.79 million. During February, the Detroit casinos paid the State of Michigan $7 million in gaming taxes compared with $9.9 million for the same month last year. The three Detroit casinos reported submitting $10.3 million in wagering taxes and development agreement payments to the City of Detroit during February. Retail Sports Betting Revenue and Taxes Greektown Casino reported $114,814 in retail sports betting qualified adjusted gross receipts for February. MGM recorded a $8,761 loss, and MotorCity saw a $183,680 loss. Qualified adjusted gross receipts are gross sports betting receipts minus the monetary value of free play incentives provided to and wagered by bettors. The casinos reported a total handle of $23,711,983. The Detroit casinos paid $4,340 in taxes to the state on retail sports betting during February. They also reported submitting $5,304 in retail sports betting taxes to the City of Detroit. Fantasy Contests Fantasy contest operators reported total adjusted revenues of $2.2 million and paid taxes of $186,699 for January. |