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Detroit casinos’ year-to-date aggregate revenue falls 65 percent through July

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Detroit casinos' year-to-date aggregate revenue falls 65 percent through July

 

The three Detroit commercial casinos’ aggregate revenue fell 65 percent year-over-year through July as the casinos were ordered to close March 16 and remained closed through July because of COVID-19-related public health concerns.

The casinos were allowed to reopen beginning at 10 a.m. Aug. 5 under Gov. Gretchen Whitmer’s Executive Order 2020-160.

In July 2019, the casinos recorded $119 million in aggregate revenue.

YTD Detroit casino results compared with 2019 (through July 31)

Casino YTD 2020 Revenue

(in millions)

YTD 2019 Revenue

(in millions)

YTD Change in Revenue from Previous Year (in millions) YTD Percentage Comparison (+ or -)
MGM Grand Detroit $126.5 $366.8 – $240.3 – 65.5%
MotorCity Casino $102.6 $291.2 – $188.6 – 64.8%
Greektown Casino $70.1 $196.4 – $126.3 – 64.3%
Total $299.2 $854.4 – $555.2 – 65.0%

Through July 31, the three casinos paid $24.2 million in gaming taxes to the State of Michigan compared with $69.2 million for the same period last year. The state received $45 million less in taxes compared with 2019.

The three Detroit casinos reported submitting $35.6 million to the City of Detroit in wagering taxes and development agreement payments through July 31. They paid $101.7 million to the city during the same seven-month period last year. Payments to the city this year have decreased $66.1 million compared with 2019.

Fantasy Contests

For the month ended June 30, fantasy contest operators reported total adjusted revenues of $488,050 and paid taxes of $40,996 to the State of Michigan.

Year-to-date through June 30, fantasy contest operators reported aggregate adjusted revenues of $4,052,669 and paid $340,424 in taxes to the State of Michigan.

Gambling in the USA

Games Global Launches Custom Slot Game Caesars Palace Frenzy with Caesars Digital

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Launch marks the first bespoke game launch in the partnership between gaming operator and premier gaming provider

Games Global today announced the exclusive launch of Caesars Palace Frenzy, a Caesars-branded slot title that marks the first bespoke game launch on behalf of Games Global’s partnership with premier gaming operator Caesars Digital. Caesars Palace Frenzy is now exclusively live on Caesars Palace Online Casino in New Jersey with plans to expand to Michigan and Pennsylvania, offering players another highly engaging, operator-specific gaming experience with iconic Caesars Palace branding.

Caesars Palace Frenzy combines the excitement of the Las Vegas Strip’s iconic casino with innovative gaming dynamics crafted by Games Global. Designed exclusively for Caesars Digital online casino players, this game delivers an online slot experience with engaging gameplay, sophisticated graphics and dynamic features like scatter pays, multiplied free spins selected by a concentric wheel and a seven-tier jackpot line-up.

This launch demonstrates Games Global’s continued emphasis on partnering with top iGaming operators to deliver exclusive and custom gaming products to players.

“Working closely with Caesars Digital to create Caesars Palace Frenzy has been an exciting journey,” the Chief Executive Officer for Games Global, Walter Bugno, said. “This game is more than just an online slot experience, it is an adventure that mirrors the thrill and grandeur of one of the world’s most iconic destinations. We’re thrilled to see it come to life and deliver a unique blend of entertainment and gaming.”

“We’re committed to collaborating with top gaming providers to launch custom online casino experiences for our players that can’t be found anywhere else,” the Senior Vice-President and Chief iGaming Officer for Caesars Digital, Matt Sunderland, said. “Caesars Palace Frenzy delivers on that commitment by providing an elevated gaming experience that we’re certain our players will enjoy.”

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Gambling in the USA

Alabama-Coushatta Tribe of Texas Announces Plans to Build New Casino Resort

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The Alabama-Coushatta Tribe of Texas has announced the plans to build a brand-new casino resort on its Tribal lands in Polk County.

“We are incredibly excited to embark on this new chapter. This new casino resort will not only provide significant economic benefits for those living and working in the region, but it will also become a vibrant destination for visitors,” Ricky Sylestine, Chairman of the Tribal Council, said.

While specific details are still being finalized, the new resort may offer a variety of amenities including a state-of-the-art casino floor, hotel accommodations, and diverse dining and entertainment options.

The Tribe has engaged the architectural firm FFKR to design the new resort. FFKR is known for its innovative and creative designs. The Tribe is confident the firm will create a truly exceptional destination.

In addition to the new casino resort, the Tribe is planning an extensive remodel to its existing Ischoopa/One Stop Convenience Store and Truck Stop. The remodel will include adding electronic bingo machines.

The Alabama-Coushatta Tribe of Texas will be releasing news related to the new resort and any additional developments in the coming months.

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Gambling in the USA

BetConstruct to Display Its Products and Services at Sigma Americas

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BetConstruct, a leading company in iGaming technology and services, is heading to Sigma Americas in Sao Paulo, Brazil from April 23-25, 2024.

Sigma Americas is a major event focusing on iGaming with 10,000 delegations and more than 200 professional speakers. This event serves as an exceptional platform for participants to present their innovative offerings, engage with fellow industry leaders, and establish new business relationships.

BetConstruct is poised to introduce its cutting-edge products and solutions to the growing Brazilian market at the upcoming event. As a premier provider of online iGaming solutions, the company will showcase its comprehensive range of services to all attendees, offering diverse solutions tailored to meet their specific needs and preferences.

Moreover, BetConstruct will demonstrate its newest Spettacolare offer by Mr. First, which is a fleeting opportunity to maximise user profits and explore the potential of FTN.

Attendees of the event can find BetConstruct in the Transamerica Expo Center at Stand O60, where they will have the opportunity to gain a comprehensive understanding of BetConstruct’s products and solutions.

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