Detroit Casinos Report $86.4M in February Revenue Operating at Limited Capacity

The three Detroit casinos reported $86.4 million in monthly aggregate revenue during February while operating at limited capacity due to continuing COVID-19 health concerns.
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casino stock photo
The three Detroit casinos reported $86.38 million in revenue during February. // Stock photo

The three Detroit casinos reported $86.4 million in monthly aggregate revenue during February while operating at limited capacity due to continuing COVID-19 health concerns.

MGM Grand Detroit led the way with 40 percent of the market, followed by MotorCity Casino (36 percent), and Greektown Casino (24 percent).

Table games and slot machines generated $86.5 million in revenue at the three casinos, while retail sports betting produced a $77,627 loss.

The casinos’ February table games and slots revenue dropped 29 percent compared with February 2020 returns. Monthly revenue was down 0.4 percent from January.

Compared with February 2020 results, MGM’s monthly gaming revenue declined 34.6 percent to $34.4 million. MotorCity’s monthly gaming revenue fell 22.9 percent to $31.2 million, and Greektown was down 27.3 percent to $20.8 million.

During February, the Detroit casinos paid the state of Michigan $7 million in gaming taxes compared to $9.9 million for the same month last year.

The three Detroit casinos reported submitting $10.3 million in wagering taxes and development agreement payments to the city of Detroit last month.

Greektown Casino reported $114,814 in retail sports betting qualified adjusted gross receipts for February. MGM recorded a $8,761 loss, and MotorCity saw a $183,680 loss.

Qualified adjusted gross receipts are gross sports betting receipts minus the monetary value of free play incentives provided to and wagered by bettors.

The casinos reported a total handle, or total amount wagered, of $23,711,983 during the month. They paid $4,340 in taxes to the state on retail sports betting during February. They also reported submitting $5,304 in retail sports betting taxes to the city of Detroit.

Fantasy contest operators reported total adjusted revenues of $2.2 million and paid taxes of $186,699 for January.

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