Each month, Commercial Casinos in Detroit, Michigan must report their adjusted gross revenue and taxes paid to the State of Michigan and the City of Detroit. The Michigan Gaming Control Board (MGCB), regulates gambling and monitors the disclosure of this information in Michigan.
Casinos in Detroit report $116.9 million in July 2021 aggregate revenue. The three commercial casinos in Detroit are MGM Grand Casino, MotorCity, and Greektown. Casino-style slots and table games accounted for $115.7 million in this revenue. The retail sports betting market accounted for the remaining $1.2 million in revenue. In addition, this revenue exceeded June’s by 9.3%. COVID-19 restrictions resulted in all three casinos being closed during July 2020. Therefore, there is no year-to-year comparison.
Casinos in Detroit Breakdown of July Revenue
|MGM Grand||$53.8 million||46%|
As a result of this revenue, the State of Michigan will receive $9.4 million in taxes from the operations of these three casinos from their July operations. In addition, the casinos will pay $13.8 million in development agreement payments and wager taxes to the City of Detroit.
Sports Betting in Detroit Breakdown for July Revenue
The casinos in Detroit also operate sportsbooks operations that take bets on sports. The combined total receipts from July 2021 betting were $1,211,857. The total handle for the casinos was $18,272,783. In addition, retail sports betting during the same timeframe had adjusted gross receipts of $1,211,832.
As a result of the sports betting revenue, Michigan will receive $45,807 in state taxes during July 2021. Also, $55,987 was submitted to the City of Detroit.
Fantasy Contests, June 2021 Revenue
Fantasy contest operators, also regulated by the MGCB, reported adjusted revenues totaling $1,312,438. In addition, the fantasy operators paid $110,245 in Michigan taxes. So far, from January 1st through June 30th, 2021, the fantasy contest revenue total was $8.3 million. Also, they paid $697,183 in State of Michigan taxes.