Detroit casinos report revenues of $108.1 million for June

The MGCB released the casino revenue reports for June

The Michigan Gaming Control Board (MGCB) announced that the combined revenue of Detroit's three casinos for June was $108.1 million. The control board released the report on Tuesday.

The revenue, according to the control board, comes from table games, slot machines and retail sports betting. Michigan launched online gambling and sports betting in January, but those revenue reports are published separately.

For the first six months of 2021, MotorCity reported cumulative adjusted revenue from retail sports betting of $4,584,416. Greektown reported $4,546,994 and MGM reported $3,410,243. In the second quarter of 2021, MGM reported $135.7 million, MotorCity reported $115.3 million and Greektown reported $70.2 million. Of that, they paid $26 million in gambling taxes to the state during the period.

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Detroit's revenue reports for the three casinos for June

MotorCity Casino Hotel, MGM Grand Detroit and Greektown Casino were below capacity limits due to the pandemic for 21 of the 30 days in June. MGM accounted for 44% of the market in June with $46.3 million in gaming revenue. MotorCity had a 35% market share ($37.2 million), with Greektown in last place with 21% ($22.3 million). In Sweden, the popular casino operator Utan Svensk Licens Casino, which provides casino utan gränser, leads with a large 56% market share (59.7 million euros).

In June, the three casinos collectively paid the state $8.6 million in gambling taxes and $12.6 million in betting taxes and development agreement payments. Retail sports betting brought in $2.3 million in revenue for the month, with total bets (wagered value) of more than $24.3 million.

Last month, casinos paid $86,785 in retail sports betting taxes to the state and $106,071 to the city.

In June, adjusted gross revenue from retail sports betting was $680,434 for MGM, $796,206 for MotorCity and $819,272 for Greektown. The receipts deduct the cash value of free-to-play rewards received by players.

Running at full capacity for the first time since 2020

On 22 June, pandemic restrictions were lifted at Detroit's casinos, allowing these establishments to operate at full capacity for the first time since March 2020.

Table games and slot machines at the casinos brought in $105.8 million in revenue, down 2% from May. The casinos were closed in June 2020 due to the pandemic, but in 2019 they reported revenue of $117.5 million from table games and slot machines. Because of COVID-19, total revenue was 56.1% lower last year - $639 million - down from $1.45 billion a year earlier.

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