Michigan casinos report $114.1m in revenue for October 2021

Michigan casinos report $114.1m in revenue for October 2021

The Great Lakes State saw its three non-tribal casinos, all located in Detroit, report $114.1m in monthly aggregate revenue for October, according to the Michigan Gaming Control Board (MGCB).

The MGM Grand Detroit came away with the largest slice of the pie, claiming 47% of the market share, while MotorCity was in second place with 33% and Greektown in third with 20%.

Table games and slots accounted for the majority of October’s revenue, generating $111.5m for the month, while retail sports betting only produced $2.6m.

Each casino also saw its table games revenue rise from last year, with the MGM Grand and Greektown posting double-digit increases of 39% and 11% respectively, while MotorCity’s table games revenue only rose by 2%.

Off the back of these revenue increases, the three casinos experienced a slight tax hike, submitting $9m in gaming taxes to the State, $1.4m more than 2020’s $7.6m figure. They also paid $13.8m in wagering taxes and development agreement payments to the City of Detroit.

Sports betting meanwhile saw a sharp dip from the prior year’s performance, with qualified adjusted gross receipts (QAGR) down by 65.2% from October 2020 and 23.6% from September 2021. The MGM Grand was once again out front, reporting $1.4m in QAGR for October, more than MotorCity and Greektown combined.

State taxes from the casinos’ retail sports betting amounted to $99,977, with a further $122,194 paid to the City of Detroit.

The MGCB also recorded revenue from fantasy contests in September, which amounted to $1.6m and saw operators pay $132,030 in taxes.

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