Michigan betting revenue reaches $1.97m in August

15 September 2020

Detroit’s three commercial casinos generated revenue of $69.3m in August, the first results reported since the properties reopened following four and a half months closed due to novel coronavirus (Covid-19), while sports betting’s contribution grew to $1.97m.

The properties were permitted to reopen from 5 August, but limited to 15% of their fire code capacity to avoid transmission of the virus.

This had a knock-on effect on revenue, with the contribution from slots and table games falling 42.0% year-on-year, according to the Michigan Gaming Control Board’s (MGCB) figures.

This broke down to $28.6m from MGM Grand Detroit – a 46.0% decline from August 2019 – with revenue at MotorCity Casino down 37.5% to $25.0m, and Penn National’s Greektown Casino reporting a 41.5% drop in revenue to $15.7m.

The venues paid total taxes of $5.6m to the state of Michigan, compared to $9.7m in the prior year, as well as $8.3m in wagering taxes and development agreement payments to the city of Detroit for the month.

For sports betting, in what was effectively Michigan’s first extended period of legal wagering, players wagered $15.7m, with the three properties reporting adjusted gross receipts of $1.97m.

Read the full story on iGB North America.