Detroit casino revenue takes a small step backward in September

Detroit casino revenue takes a small step backward in September

The three commercial casinos slipped last month, but a strong finish to the year is expected

According to reports recently shared by the Michigan Gaming Control Board (MGCB), Detroit’s three casinos reported revenues of $110.4 million last month. While the sum appears to be quite positive, it is still a slight decline compared to previous months.

September was apparently not as productive compared to August, with revenues representing a small 3% drop. Even so, this is still positive, especially when compared to last year’s September (when COVID-19 had a greater influence). The comparison of the same periods rises to 25%, and this is also mainly due to the fact that the casinos were operating at only 15% of their capacity in that month of 2020.

As is usual to see in recent months. the MGM Grand in Detroit was the leader in monthly revenues, reporting $48.4 million. This was a year-over-year increase of 34%, but a monthly decline of 7.3%. Overall, MGM Grand Detroit captured the largest market share, 45%, while MotorCity Casino Hotel and Greektown Casino lagged behind with 34% and 21% shares, respectively.

For the month, table games and slots generated the most revenue, reporting $106.9 million, while retail sports betting generated $3.5 million. According to the MGCB, table games and slots revenues were up 21.6% from September 2020, but down 4.7% from August. Through the last day of last month, table games and slots revenue was up more than 100% overall compared to the same period in 2020.

Combined, the three casinos had to shell out a total of $8.7 million in gaming taxes to the state in September and submitted $16.8 million in wagering taxes and development agreement payments to the city last month.

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