MGM Grand tops as Detroit casinos bring in $ 109.69 million in revenue in May

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MGM Grand Detroit maintained its dominant position among the three Motor City casinos, after the Michigan Games Control Board figures released for the month of May, when sites continued to operate at limited capacity due to health concerns related to COVID-19.

The three Detroit casinos of MGM Grand Detroit, MotorCity Casino, and Greek city casino, reported $ 109.69 million, a slight month-on-month decline from the $ 115.23 million recorded a month earlier.

In addition, table games and slots generated $ 107.94 million in revenue, while retail sports betting generated $ 1.75 million in revenue. May’s market share saw MGM come out with 42%, ahead of MotorCity’s 36% and Greektown 22%.

The three Detroit casinos reported $ 125.8 million in cumulative revenue from slots and table games as of May 2019, while operating at full capacity. All three casinos were closed in May 2020 due to public health concerns.

The monthly gaming revenue earned by each casino was $ 46.15 million, $ 38.19 million and $ 23.6 million by MGM, MotorCity and Greektown, respectively. In May, revenues from table games and slots were up a fraction of 0.5% from April’s results.

During the month, gaming properties paid $ 8.7 million in gambling taxes to the state of Michigan and submitted $ 12.8 million in betting taxes and development agreement payments to the city of Detroit.

Total sports betting amounted to $ 20.19 million, with gross revenue of $ 1.76 million. Retail sports betting qualified adjusted gross revenue by casino was $ 402,223 for MGM, $ 709,796 for MotorCity and $ 636,547 for Greektown.

Casinos paid $ 66,096 in retail sports betting taxes to the state in May and said they submitted $ 80,784 in retail sports betting taxes to the city.

As of May 31, 2021 aggregate retail sports betting qualified adjusted gross revenue in 2021 was $ 2.72 million per MGM, $ 3.78 million by MotorCity and $ 3.72 million by Greektown.

In addition, the MGCB also clarified that the operators of fantastic content reported total adjusted revenues of $ 1.48 million and paid $ 124,727 in taxes.

Until April 30, fantasy contest operators reported $ 5.7 million in total adjusted fantasy contest revenue and paid $ 480,199 in taxes this year.



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