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

 

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.

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George Miller has started working in the gaming industry as an Editor/Content Manager in 2016 and since then he has acquired many experiences when it comes to interviews and newsworthy subject covering. In 2017, he became Head of Content and he is responsible for the editorial team, press release and story covering on multiple websites that are part of Hipther Agency, including EuropeanGaming.eu.

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