Detroit Casinos’ Q1 Revenues Fall by 18.5%

The three Detroit casinos reported $299.2 million in first-quarter 2020 aggregate revenue, falling 18.5 percent below first quarter 2019 results. March aggregate revenue at $57.4 million was off 59.1 percent compared with March 2019 results.
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Detroit’s casinos reported $299.2 million in revenue for the first quarter, an 18.5 percent decrease year-over-year. // Photo courtesy of MGM Grand Detroit

The three Detroit casinos reported $299.2 million in first-quarter 2020 aggregate revenue, falling 18.5 percent below first quarter 2019 results. March aggregate revenue at $57.4 million was off 59.1 percent compared with March 2019 results.

The casinos were ordered by the state of Michigan to reduce crowd sizes through social distancing on Friday, March 13, and to close completely at 3 p.m. on Monday, March 16, in response to the COVID-19 pandemic.

They will remain closed until 11:59 p.m. on Monday, April 13 unless Gov. Gretchen Whitmer changes her executive order.

MGM Grand Detroit reported $126.5 million in first quarter revenue, down 19.7 percent from the previous year. Its monthly revenue for March was $23.9 million, a 59.6 percent decrease year-over-year. It had 42 percent of the market share in March.

MotorCity Casino reported $102.6 million in first quarter revenue, an 18 percent drop from the year before. Its monthly revenue for March was $20.3 million, a 58.7 percent decrease from March 2019. It had 35 percent of the market share in March.

Greektown Casino reported $70.1 million in first quarter revenue, a 16.7 percent decrease year-over-year. Its monthly revenue was $13.2 million, a 58.7 percent decrease from March 2019. It had 23 percent of the market share in March.

For the month ended March 31, the three casinos paid $4.7 million in gaming taxes to the state, compared to $11.4 million paid in March 2019. They reported submitting $6.8 million in wagering taxes and development agreement payments to the city of Detroit during March.

The casinos reported retail sports betting qualified adjusted gross receipts of $105,548 between the March 11 launch date and March 16 when the casinos were ordered to close. Sports leagues began cancelling games and events on March 12 because of public health concerns caused by COVID-19.

Qualified adjusted gross receipts reported by location were:

  • MGM Grand Detroit, $84,695
  • MotorCity Casino, $4,949
  • Greektown Casino, $15,904.

The casinos paid $3,990 in state of Michigan retail sports betting taxes and reported submitting to the city of Detroit $4,876 in retail sports betting taxes.

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