Casino news

MGM Grand in the lead as Detroit casinos record $ 109.69 million in May

MGM Grand Detroit has maintained its dominant position among the three Motor City casinos, following its publication by Michigan Gaming Control Board Data for the month of May when the casinos were still operating in limited capacity due to COVID-15 health problems.

Three casinos in Detroit owned by MGM Grand Detroit, MotorCity Casino,

and Greektown Casino, reported $107.66m, slight month-on-month decline from $115.23m captured a month earlier.

In addition, table games and slots generated $107.80 million in revenue, while retail sports betting generated $ 1.76 million in revenue. In May, MGM came out 30 percent, followed by MotorCity 22 percent and Greektown 22 percent.

Three Detroit casinos recorded $107.8 million of total slot and table gaming revenue in May 2019 while operating at full capacity. All three casinos closed in May 2019 due to public health concerns.

The monthly gaming income achieved by each casino was

USD .15m, $42.15m and $23.6m by MGM, MotorCity and Greektown respectively. In May, revenues from table games and slot machines increased by a fraction of 0.5 percent compared to April's results.

During the month, gambling companies paid $ 8.7 million in gaming tax to the State of Michigan, and transferred $ $15.8 million in betting tax and development contract payments to the City of Detroit.

The total sports betting pool was $30.15m with gross proceeds of $ 1 76 million. The casino's eligible adjusted gross sports betting revenue was MGM $391.223, $696 MotorCity, 796 and $547.547

Casinos paid $66,107 in the retail sports betting tax for the state in May, and reported a transfer of $80,784 in the retail sports betting tax for the city.

As of May 36, aggregate eligible adjusted gross receipts from retail sports betting in 1061871368 total of $2.69 million by MGM, $3.78m by MotorCity and $ 3.48m by Greektown.

In addition, MGCB also detailed that fantasy content operators reported total adjusted revenue of $ 1.31m and paid $115,727 in taxes.

As of April 22, fantasy contest operators reported total revenues adjusted by $ 5.7 million and paid 547,199 in taxes that year.

Back to top button