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Detroit casinos report nearly $109.7 million in revenue during May

detroit-casinos-report-nearly-$109.7-million-in-revenue-during-may

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etroit’s casinos brought in nearly $109.7 million in aggregate revenue while operating at limited capacity in May, according to the Michigan Gaming Control Board.

That’s about even with April’s results, when the three venues netted nearly $109 million in revenue. Last May, the casinos were closed under health restrictions tied to the coronavirus pandemic and thus did not generate any revenue.

May market shares were:

  1. MGM, 42 percent
  2. MotorCity, 36 percent
  3. Greektown, 22 percent 

Table Games and Slot Revenue and Taxes

During May, table games and slot revenue was up a fractional 0.5 percent when compared with April results.

Monthly gaming revenue earned by casino was:

  1. MGM, $46.15 million
  2. MotorCity, $38.19 million
  3. Greektown, $23.60 million

During May, the three Detroit casinos paid $8.7 million in gaming taxes to the state of Michigan.

The three Detroit casinos reported submitting $12.8 million in wagering taxes and development agreement payments to the City of Detroit during May.

Retail Sports Betting Revenue and Taxes

The Detroit casinos reported a total retail sports betting handle of $20,196,877.  Total gross receipts were $1,769,271. Retail sports betting qualified adjusted gross receipts by casino were:

  1. MGM, $402,223
  2. MotorCity, $709,796
  3. Greektown, $636,547

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 paid $66,096 in retail sports betting taxes to the state in May and reported submitting $80,784 in retail sports betting taxes to the City of Detroit.

Through May 31, aggregate retail sports betting qualified adjusted gross receipts in 2021 have totaled:

  1. MGM, $2,729,808
  2. MotorCity, $3,789,210
  3. Greektown, $3,727,723

Fantasy Contests

During April, fantasy contest operators reported total adjusted revenues of $1,484,842 and paid $124,727 in taxes.

Through April 30, fantasy contest operators reported $5.7 million in total aggregate fantasy contest adjusted revenues and paid $480,199 in taxes this year.

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