Trending...
- Michigan: Home Help Provider Charged with Medicaid Fraud
- MDARD, DNR stress biosecurity to help protect Michigan's rabbits and hares from fatal disease
- Michigan: Consumer Advisory: Rashi Al-Ref Tahini tests positive for Salmonella
Contact: Mary Kay Bean 313-456-1344
Detroit, April 13, 2021 - The three Detroit casinos reported $113.84 million in monthly aggregate revenue during March while continuing to operate at limited capacity due to COVID-19 health concerns. Table games and slots generated $110.87 million in revenue while retail sports betting produced $2.97 million in revenue.
March market shares were:
Table games and slots revenue and taxes
Table games and slots revenue rose 93 percent in March compared with March 2020 results.
All three casinos recorded significant revenue increases in March compared with monthly results from a year earlier when they were ordered to close on March 16, 2020, due to public health concerns.
MGM earned $43.21 million in monthly revenue, an 80.6 percent increase. MotorCity revenue rose 107.2 percent to $42.04 million. Greektown saw a 93.7 percent increase in monthly revenue, posting $25.62 million.
More on Michimich.com
March revenue also was up 28.2 percent when compared with February numbers.
During March, the three Detroit casinos paid $9 million in gaming taxes to the State of Michigan compared with $4.7 million in March 2020.
The three Detroit casinos reported submitting to the City of Detroit $13.2 million in wagering taxes and development agreement payments during March.
First Quarter Table Games and Slots Revenue
The three Detroit casinos' aggregate revenue for the first quarter was down 5.1 percent from the first quarter of 2020. Quarterly gaming revenue for MGM was $111.6 million, for MotorCity, $106.5 million, and for Greektown, $66.1 million.
Comparing first quarter numbers with the same period last year, MotorCity Casino's revenue was up by 3.7 percent while MGM was down 11.8 percent and Greektown results fell 5.7 percent.
Retail Sports Betting Revenue and Taxes
Retail sports betting qualified adjusted gross receipts for March totaled $2.97 million. Results by casino were:
Qualified adjusted gross receipts are gross sports betting receipts minus the monetary value of free play incentives provided to and wagered by bettors.
More on Michimich.com
The three Detroit casinos reported total handle of $24,241,730. The casinos recorded total gross receipts of $2,968,064.
The state received $112,272 in taxes on retail sports betting revenue from the Detroit casinos. The three casinos also reported submitting $137,221 in retail sports betting taxes to the City of Detroit.
Through March 31, aggregate retail sports betting qualified adjusted gross receipts were $6.96 million. The results by casino were:
Fantasy Contests
During February, fantasy contest operators reported $1 million in total adjusted revenues and paid $87,004 in taxes.
"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, April 13, 2021 - The three Detroit casinos reported $113.84 million in monthly aggregate revenue during March while continuing to operate at limited capacity due to COVID-19 health concerns. Table games and slots generated $110.87 million in revenue while retail sports betting produced $2.97 million in revenue.
March market shares were:
- MGM, 39 percent
- MotorCity, 38 percent
- Greektown, 23 percent
Table games and slots revenue and taxes
Table games and slots revenue rose 93 percent in March compared with March 2020 results.
All three casinos recorded significant revenue increases in March compared with monthly results from a year earlier when they were ordered to close on March 16, 2020, due to public health concerns.
MGM earned $43.21 million in monthly revenue, an 80.6 percent increase. MotorCity revenue rose 107.2 percent to $42.04 million. Greektown saw a 93.7 percent increase in monthly revenue, posting $25.62 million.
More on Michimich.com
- Michigan Attorney General, EGLE call out 3M attempt to gut PFAS in drinking water rules
- Michigan: AG Nessel Announces Genesee County Expungement Event
- Michigan: MDHHS updates testing requirements for long-term care facilitiesRoutine testing no longer required for fully vaccinated staff members
- Michigan: Attorney General Nessel Joins Series of Multistate Efforts
- Priority Health Allowing Deductible Transfers for Individuals Switching Insurers During Special Enrollment Period
March revenue also was up 28.2 percent when compared with February numbers.
During March, the three Detroit casinos paid $9 million in gaming taxes to the State of Michigan compared with $4.7 million in March 2020.
The three Detroit casinos reported submitting to the City of Detroit $13.2 million in wagering taxes and development agreement payments during March.
First Quarter Table Games and Slots Revenue
The three Detroit casinos' aggregate revenue for the first quarter was down 5.1 percent from the first quarter of 2020. Quarterly gaming revenue for MGM was $111.6 million, for MotorCity, $106.5 million, and for Greektown, $66.1 million.
Comparing first quarter numbers with the same period last year, MotorCity Casino's revenue was up by 3.7 percent while MGM was down 11.8 percent and Greektown results fell 5.7 percent.
Retail Sports Betting Revenue and Taxes
Retail sports betting qualified adjusted gross receipts for March totaled $2.97 million. Results by casino were:
- MGM, $868,206
- MotorCity, $1,276,470
- Greektown, $825,479
Qualified adjusted gross receipts are gross sports betting receipts minus the monetary value of free play incentives provided to and wagered by bettors.
More on Michimich.com
- Chapter 23-The Age of Healing for Black Women
- Michigan: White House, EPA leaders to join Gov. Whitmer and Lt. Gov. Gilchrist for state's first environmental justice conference May 18-20
- Gov. Whitmer Signs Bipartisan Bill Providing Reimbursements to Michigan National Guard Soldiers who were deployed at the U.S. Capitol
- Four New Lawsuits Filed in Federal District Courts to Curb Illegal Wine Shipments into Michigan
- Michigan: Sign up for free mass timber webinars May 11 and June 3
The three Detroit casinos reported total handle of $24,241,730. The casinos recorded total gross receipts of $2,968,064.
The state received $112,272 in taxes on retail sports betting revenue from the Detroit casinos. The three casinos also reported submitting $137,221 in retail sports betting taxes to the City of Detroit.
Through March 31, aggregate retail sports betting qualified adjusted gross receipts were $6.96 million. The results by casino were:
- MGM, $1,722,884
- MotorCity, $2,658,808
- Greektown, $2,573,952
Fantasy Contests
During February, fantasy contest operators reported $1 million in total adjusted revenues and paid $87,004 in taxes.
"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
- Gene Silvers Guest Stars In Apple TV Plus Drama 'The Mosquito Coast'
- The Benefits of a Collection Agency
- Major Broadcasters Launch NEXTGEN TV on Six Local Television Stations in Grand Rapids, MI
- Better Yourself With Japanese Iaido
- You Are The Brand: Sustainability From The Inside Out
- Michigan: DNR to begin repair work on Houghton to Chassell rail-trail in Houghton County
- Michigan: Moderation in Alcohol Consumption Urged Among Older People
- Michigan: Secretary of State Jocelyn Benson recognizes May as Motorcycle Safety Awareness Month
- Peachtree Immediate Care Expands its Network by Adding Four Locations in last Three Weeks
- Michigan: Attorney General Nessel Reissues Consumer Alert as Scammers Threaten Service
- TrueDialog Higher Education Texting Solution Named EdTech Award Finalist
- Make the Most of Your Painting Investment with Help from Mussio Painting
- Geherin Law Group Helps Habitual Offenders File License Appeals in Michigan
- Michigan Department of Insurance and Financial Services Reminds Consumers that Mental Health Care is Covered by Most Health Insurance Plans
- Everyone Can Have Their "15 Minutes" With Former Google PPC Expert, Savio Marian
- Nanometrics wins Government of Canada Contract to Provide the Infrastructure for Canada's Early Earthquake Warning System
- Michigan: Snow Road bridge over I-496 closed May 11-12 for preventive maintenance
- Michigan: A public hearing to consider the possible parole of Raymond Richardson, #165558
- Michigan: A public hearing to consider the possible parole of Andre Collier, #188284
- Michigan Independent Citizens Redistricting Commission launches online portal for public comment