Detroit Casinos See Earnings Rise in April

The gambling houses in Detroit, Michigan, witnessed an increase in their earnings by 8.9% in the fourth month of the year compared to the same period last year, reaching $118.7 million (£97.1 million/€114.2 million).

The overall earnings in April surpassed the $109.9 million generated by these establishments in April of the previous year, but it was 3.4% less than the $122.9 million generated in the third month of the current year, according to information released by the Michigan Gaming Control Board (MGCB).

The year-over-year rise was primarily attributed to the fact that the three gambling venues were operating at a reduced capacity in April of the previous year, in accordance with the state’s new coronavirus (Covid-19) measures, while this year such limitations have been lifted.

MGM Grand Detroit remains the leading player, with a 48% market share, ahead of MotorCity Casino (31%) and Penn National’s Greektown Casino Hotel (21%).

In April, earnings from table games and slots totaled $116.9 million, up 8.8% year-over-year.

MGM takes the lead in this regard, with earnings of $56.8 million, up 31.4% year-over-year. In contrast, MotorCity’s table game and slot earnings decreased by 8.8% to $36.4 million, while Greektown’s fell by 2.6% to $23.7 million.

Total qualified adjusted gross receipts (QAGR) from sports betting activities reached $1.9 million, up 21.3% from the previous year.

Greektown was the frontrunner in sports betting revenue growth, boasting an average yearly increase of $912,513. This put them ahead of MotorCity ($552,841) and MGM ($405,385).

Gaming establishments processed a total of $24.8 million in sports wagers, resulting in $1.9 million in overall earnings. Of this sum, $70,714 was allocated to state taxes and $86,428 went towards the city of Detroit’s retail sports betting levy.

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