Revenues at the three Detroit casinos in February were down 29% from the same period the previous year.
According to a statement released Tuesday by the Michigan Gaming Control Board, revenue from table games and slots at the MGM Grand Detroit, the MotorCity Casino, and Greektown Casino was $86.38 million. Table games and slots generated $86.46 million in revenue, while retail sports betting produced a $77,627 loss. Monthly revenue was down a mere 0.4% from January results.
The casinos operated at 25% capacity in February due to COVID-19 health concerns. On March 3, Michigan Gov. Gretchen Whitmer announced that capacity at casinos would increase to 30%.
MGM had the largest market share at 40%, followed by MotorCity’s 36% and Greektown’s 24%. But revenue at each casino was down compared to February 2020. MGM’s monthly gaming revenue fell 34.6 percent to $34.43 million, MotorCity’s revenue declined 22.9 percent to $31.24 million, and Greektown decreased 27.3 percent to $20.79 million.
In the first full month that sports betting was available, revenues totaled $23,711,983. Greektown was the only Detroit casino that made a profit on sports betting, with $114,814 in gross revenue. MGM recorded an $8,761 loss and MotorCity toook a $183,680 loss.
During February, the Detroit casinos paid the state of Michigan $7 million in gaming taxes compared with $9.9 million for the same month last year.
The casinos also reported submitting $10.3 million in wagering taxes and development agreement payments to the city of Detroit during February.
Fantasy contest operators reported revenues of $2.2 million and paid taxes of $186,699 for January.
