Detroit Casinos Revenue See 9% Increase in July to $116.9M
The three Detroit casinos have reported $116.9 million in aggregate revenue in July, with MGM Grand Detroit witnessing nearly half of it.
According to numbers released Tuesday by the Michigan Gaming Control Board (MGCB), the last month’s result represents a 9.3% increase from June’s $108.1 million.
There’s no year-over-year comparison available as Michigan casinos were shuttered the whole month due to the pandemic-led restrictions in July 2020. But the aggregate total of $116.9 million reported this July was slightly lower than July 2019’s $119 million.
Detroit is home to three world-class casinos – the MGM Grand Detroit, MotorCity Casino, and Greektown Casino.
Of the total, table games and slots took in $115.7 million in revenue, while retail sports betting drew $1.2 million, according to the MGCB report.
Revenue By Casino
In July, MGM Grand Detroit reported nearly half of the revenue of $53.8 million, with a market share of 46%.
MotorCity recorded $38.5 million in revenue, with a market share of 34%, followed by Greektown which posted a revenue of $23.4 million with a market share of 20%.
The three casinos in the largest city of Wolverine State paid $9.4 million in gaming taxes to the state during the month of July and submitted $13.8 million in wagering taxes and development agreement payments to the city.
In June, the casinos had paid an aggregate gaming tax of $8.6 million and a development tax to the city of $12.6 million to the city.
Casinos Paid $1.2M in Retail Sports Betting
The casinos recorded total gross sports betting receipts of $1.21 and the $18.27 million in July handle.
MGM reported $136,948 in AGR, while MotorCity took in $637,681, and Greektown saw $437,203. The three brick-and-mortar establishments gave $45,807 to the state, and $55,987 to the city in retail sports betting taxes.
Fantasy contest operators in Michigan reported adjusted revenues of $1.31 million for June 2021. The state generated $110,245 from that. June is the most recent month with complete data for DFS.
Aggregate fantasy contest adjusted revenues for June were $8.3 million. During the first six months, fantasy operators have paid $697,183 to the state.
The numbers were released as the American Gaming Association reported a new quarterly revenue record this week. According to the AGA report, US commercial gaming revenue totaled $13.6 billion during the second quarter of this year, ending June 30. The previous record of $11.1 billion was shared by Q3 2019 and Q1 2021.
AGA, a national trade group resenting the casino industry, said 2021’s nearly $25 billion in revenue is on track to outshine 2019 as the highest-grossing year ever for commercial gaming revenue in the history of the US.