MGCB Cite Limited Casino Openings In Detroit For January Dip

In January, revenue from the three commercial casinos in Detroit came in at $90.84 m, with the venues operating at reduced capacity due to COVID-19, the Michigan Gaming Control Board (MGCB) announced.

This reflects a rise of 293.5 percent month-on-month, with the trio only reopening on December 23 due to continuing health issues after being closed for almost a month.

Table games and slots revenue

Market shares see MGM Grand Detroit and MotorCity Casino tied at 38 percent, 24 percent ahead of Greektown Casino, with January table games and slots revenue from casinos dropping 27.7 percent compared to the same month last year to finish at $86.78 million.

Gaming revenue at MGM plummeted 32 percent to $34 million during the month, compared to the same time a year ago, with MotorCity declining 20.7 percent to $33.2 million, and Greektown posting $19.6 million, reflecting a decline of 30.4 percent.

In January, the three casinos announced a combined $35.6 m retail sports betting handle, carrying revenue of $4.06 m. Eligible adjusted gross receipts for retail sports betting were $1.63m at Greektown, $1.56m at MotorCity and $863,439 for MGM.

Taxes in retail sport

The property paid $153,586 in taxes on retail sports betting sales to the state of Michigan, and also registered submitting $187,716 in taxes for the month to the city of Detroit.

The state regulator also issued an update on fantasy competitions, with contest operators posting gross adjusted sales of $1.9m and paying the state $158,726 in taxes in December 2020. Operators posted $16.7m in adjusted net fantasy contest sales for the full year and charged $1.4m in taxes.

Online gaming and sports betting ecosystem

This comes after the area last month unveiled its online gaming and sports betting ecosystem, with the ceremonial first wager being made by Michigan Senator Curtis Hertel.

Richard Kalm, MGCB executive director said: “Michigan now can offer legal, regulated online gaming and sports betting to residents and visitors.

“It’s an exciting and much-anticipated day and will bring revenue to support education, tribal communities and the city of Detroit.”