Trending...
- Outreaching.io Appoints Rameez Ghayas Usmani as CEO, Recognized as Best HARO Link Building Expert in the United States
- purelyIV Expands Wellness Services with Flu/COVID Testing and Menopause Coaching & Treatment
- UK Financial Ltd Confirms All 8 Mexican Gold Mines Exist — Audited and Backing UKFL's Ecosystem With Double the 2018 Gold Value
Contact: Mary Kay Bean 313-456-1344
Detroit, Jan. 12, 2021 - The three Detroit casinos reported nearly $639 million in aggregate revenue during 2020 compared with a record $1.454 billion yearly revenue in 2019. Table games and slots generated 97 percent of revenue at $620.4 million while retail sports betting provided 3 percent of revenue at $18.3 million during 2020. Year-over-year revenue fell 57.3 percent compared with 2019 results.
Because of public health concerns, the Detroit casinos were closed from 3 p.m. March 16 through August 4 and from Nov. 18 through Dec. 22. The casinos operated at limited capacity from early August to mid-November and reopened in late December at limited capacity under an epidemic order issued by the Michigan Department of Health and Human Services.
Table Games and Slot Revenue and Taxes - 2020
Year-over-year gaming revenue for MGM dropped 58.8 percent to $257.1 million. MotorCity's year-over-year revenue declined 54.9 percent to $222.7 million, and Greektown's year-over-year results were down 58.3 percent to $140.6 million. Slots provided 78 percent of revenue and table games contributed 19 percent.
The 2020 market shares were:
During 2020, the three Detroit casinos paid $50.3 million in wagering taxes to the State of Michigan compared with $117.8 million paid in 2019 on slots and table games revenue.
The three Detroit casinos reported making $73.8 million in wagering taxes and development agreement payments to the City of Detroit during 2020.
Retail Sports Betting and Taxes - 2020
More on Michimich.com
The three casinos reported aggregate retail sports betting qualified adjusted gross receipts of $18.3 million for 2020. The breakdown by casino was:
The casinos reported a total handle of $130.8 million during 2020.
Qualified adjusted gross receipts are gross sports betting receipts minus the monetary value of free play incentives provided to and wagered by bettors.
The three casinos paid $690,865 in taxes for retail sports betting to the State of Michigan in 2020 and reported submitting $844,391 in retail sports betting taxes to the City of Detroit.
December 2020 Results
The three Detroit casinos reported $23.93 million in monthly aggregate revenue in December while operating at limited capacity for nine days due to COVID-19 health concerns. Table games and slots generated $22.05 million in revenue while retail sports betting produced $1.88 million in revenue.
Table Games and Slot Revenue and Taxes
The casinos' revenue for table games and slots during December fell 82.8 percent compared with December 2019 results. Monthly revenue was down 54.1 percent compared with November results.
December revenue dropped 86 percent to $7.59 million for MGM compared with December 2019 numbers. MotorCity's December revenue declined 79 percent to $9.09 million, and Greektown revenue was down 82.1 percent to $5.37 million compared with December 2019.
During December, the three Detroit casinos paid $1.8 million in wagering taxes to the State of Michigan compared with $10.4 million paid in December 2019.
The three Detroit casinos reported making $2.6 million in wagering taxes and development agreement payments to the City of Detroit during December 2020.
More on Michimich.com
Retail Sports Betting Revenue and Taxes
The three casinos reported $1.88 million in retail sports betting qualified adjusted gross receipts for December. The breakdown by casino was:
The casinos reported a total handle of $9,720,393.
During December, the casinos paid $71,186 in retail sports betting taxes to the state of Michigan and reported submitting $87,006 in retail sports betting taxes to the City of Detroit.
Fourth Quarter Table Games and Slot Revenue and Taxes
The three Detroit casinos' fourth-quarter revenue of $163.9 million was 55.4 percent lower than fourth quarter 2019 results, and the state was paid $13.3 million in taxes compared with $29.8 million for the fourth quarter of 2019. The casinos reported making $19.5 million to the City of Detroit in wagering taxes and development agreement payments during the fourth quarter compared with $50.3 million during the fourth quarter of 2019.
Fantasy Contests
For November, fantasy contest operators reported total adjusted revenues of $2.2 million and paid taxes of $188,543.
Through November 30, fantasy contest operators reported $14.7 million in aggregate fantasy contest adjusted revenues and paid $1.2 million in taxes to the state.
"The Michigan Gaming Control Board shall ensure the conduct of fair and honest gaming to protect the interests of the citizens of the State of Michigan."
Detroit, Jan. 12, 2021 - The three Detroit casinos reported nearly $639 million in aggregate revenue during 2020 compared with a record $1.454 billion yearly revenue in 2019. Table games and slots generated 97 percent of revenue at $620.4 million while retail sports betting provided 3 percent of revenue at $18.3 million during 2020. Year-over-year revenue fell 57.3 percent compared with 2019 results.
Because of public health concerns, the Detroit casinos were closed from 3 p.m. March 16 through August 4 and from Nov. 18 through Dec. 22. The casinos operated at limited capacity from early August to mid-November and reopened in late December at limited capacity under an epidemic order issued by the Michigan Department of Health and Human Services.
Table Games and Slot Revenue and Taxes - 2020
Year-over-year gaming revenue for MGM dropped 58.8 percent to $257.1 million. MotorCity's year-over-year revenue declined 54.9 percent to $222.7 million, and Greektown's year-over-year results were down 58.3 percent to $140.6 million. Slots provided 78 percent of revenue and table games contributed 19 percent.
The 2020 market shares were:
- MGM, 41 percent
- MotorCity, 36 percent
- Greektown, 23 percent
During 2020, the three Detroit casinos paid $50.3 million in wagering taxes to the State of Michigan compared with $117.8 million paid in 2019 on slots and table games revenue.
The three Detroit casinos reported making $73.8 million in wagering taxes and development agreement payments to the City of Detroit during 2020.
Retail Sports Betting and Taxes - 2020
More on Michimich.com
- Luxury Mediterranean Estate in Gotha Sells for $1.52 Million, Closing $45,000 Over Asking
- Michigan Homeowners Encouraged to Take Action Against Winter Ice Dams
- Transforming Small Spaces: Ann Arbor Residential Contractors Share Smart Mudroom Storage Solutions
- JMAC Highlights the Benefits of Martial Arts Training Beyond Self-Defense
- CMR Mechanical Highlights Benefits of Boilers and Expert Boiler Repair Services
The three casinos reported aggregate retail sports betting qualified adjusted gross receipts of $18.3 million for 2020. The breakdown by casino was:
- MGM, $8.2 million
- MotorCity, $6.0 million
- Greektown, $4.1 million
The casinos reported a total handle of $130.8 million during 2020.
Qualified adjusted gross receipts are gross sports betting receipts minus the monetary value of free play incentives provided to and wagered by bettors.
The three casinos paid $690,865 in taxes for retail sports betting to the State of Michigan in 2020 and reported submitting $844,391 in retail sports betting taxes to the City of Detroit.
December 2020 Results
The three Detroit casinos reported $23.93 million in monthly aggregate revenue in December while operating at limited capacity for nine days due to COVID-19 health concerns. Table games and slots generated $22.05 million in revenue while retail sports betting produced $1.88 million in revenue.
Table Games and Slot Revenue and Taxes
The casinos' revenue for table games and slots during December fell 82.8 percent compared with December 2019 results. Monthly revenue was down 54.1 percent compared with November results.
December revenue dropped 86 percent to $7.59 million for MGM compared with December 2019 numbers. MotorCity's December revenue declined 79 percent to $9.09 million, and Greektown revenue was down 82.1 percent to $5.37 million compared with December 2019.
During December, the three Detroit casinos paid $1.8 million in wagering taxes to the State of Michigan compared with $10.4 million paid in December 2019.
The three Detroit casinos reported making $2.6 million in wagering taxes and development agreement payments to the City of Detroit during December 2020.
More on Michimich.com
- ZEELOOL's Black Friday Sale Starts Early with Up to 80% Off Frames
- UV Weathering Test Chamber vs Xenon Arc Test Chamber: What's the Right Solution for Your Products
- Emeritus Addresses Hospital Bed Shortages with Smart Storage Solutions
- Fulton County & Grow Your World Amplify Atlanta Youth Through the Youth Audio Collective
- 2026 Oscars Betting Odds: One Battle After Another Favored for Best Picture
Retail Sports Betting Revenue and Taxes
The three casinos reported $1.88 million in retail sports betting qualified adjusted gross receipts for December. The breakdown by casino was:
- MGM, $776,788
- MotorCity, $646,003
- Greektown, $460,449
The casinos reported a total handle of $9,720,393.
During December, the casinos paid $71,186 in retail sports betting taxes to the state of Michigan and reported submitting $87,006 in retail sports betting taxes to the City of Detroit.
Fourth Quarter Table Games and Slot Revenue and Taxes
The three Detroit casinos' fourth-quarter revenue of $163.9 million was 55.4 percent lower than fourth quarter 2019 results, and the state was paid $13.3 million in taxes compared with $29.8 million for the fourth quarter of 2019. The casinos reported making $19.5 million to the City of Detroit in wagering taxes and development agreement payments during the fourth quarter compared with $50.3 million during the fourth quarter of 2019.
Casino | 4Q Revenue (in millions) | Q4 Percentage Decline 2020 vs. 2019 |
MGM Grand Detroit | $65.8 | 58.1 |
MotorCity Casino | $62.9 | 49.1 |
Greektown Casino | $35.2 | 59.5 |
Fantasy Contests
For November, fantasy contest operators reported total adjusted revenues of $2.2 million and paid taxes of $188,543.
Through November 30, fantasy contest operators reported $14.7 million in aggregate fantasy contest adjusted revenues and paid $1.2 million in taxes to the state.
"The Michigan Gaming Control Board shall ensure the conduct of fair and honest gaming to protect the interests of the citizens of the State of Michigan."
0 Comments
Latest on Michimich.com
- 'Tis the Season Weekend activities bringing holiday joy to Frankenmuth River Place Shops
- Wohler announces three SRT monitoring enhancements for its iVAM2-MPEG monitor and the addition of front panel PID selection of A/V/subtitle streams
- Schemawriter.ai launches WordPress plugin as industry leaders confirm - schema markup is critical
- 20 Million Financing to Accelerate Growth and Advance Digital Asset Strategy Secured for Super League (N A S D A Q: SLE)
- uCAR Trading Launches goldsilbermarkt.de, a New Online Shop for Precious Metals
- Webinar Announcement: Reputational Risk Management in Internal Investigations: Controlling the Narrative Before, During, and After a Crisis
- Taking on the Multi-Billion-Dollar Swipe Industry: AI Curates Who You Meet—IRL over brunch
- 5,000 Australians Call for Clarity: NaturismRE's Petition Reaches Major Milestone
- Cartwheel Signs Letter of Intent to License Clearsight Therapeutics' Novel Pink Eye Treatment for 2027 Portfolio Expansion
- CIMdata to Host Free Webinar on The State of the PLM Economy
- Vet Maps Launches National Platform to Spotlight Veteran-Owned Businesses and Causes
- Opticom Tech Releases New Made-in-USA CC02 Industrial Camera
- AAACF Partners with Rx Kids to Bring Innovative Family Support Program to Ypsilanti
- $114.6 Million in Revenues, Up 54%: Uni-Fuels Holdings (N A S D A Q: UFG) Accelerates Global Expansion Across Major Shipping Hubs as Demand Surges
- Detroit Executives Association to Honor Growth Trailblazer Hilary Doe as 2025 Executive of the Year
- Dental Care Solutions Unveils New Website for Enhanced Patient Engagement
- ArborMotion Releases 10 Essential Steps to Winterize Your European Vehicle Before the First Snowfall
- Raven Carbide Die Highlights Importance of Carbide Grade for Cold Forming and Extrusion Dies
- TradingHabits.com Launches to Support Day Trader Well-being
- $750 Million Market on Track to $3.35 Billion by 2034: $NRXP Launches First-in-Florida "One Day" Depression Treatment in Partnership with Ampa Health