Detroit casinos handle $50.4m in income in Nov

Detroit’s three privately-owned casinos reported $50.four million in month-to-month mixture income for November, regardless of being compelled to shut for 3 weeks per an epidemic order issued on November 15, 2020, by the Michigan Division of Well being and Human Providers (MDHHS) and enforced by the Michigan Gaming Management Board (MGCB).

The trio of casinos has additionally needed to function at simply 15 p.c capability, probably the most stringent occupancy thresholds issued for a industrial on line casino, since August 5 after government orders issued by Dem. Gov. Gretchen Whitmer closed all three on March 16 when the coronavirus pandemic hit.

Desk video games and slots:

Based on the MGCB…

…Desk video games and slots at MGM Grand Detroit,  MotorCity On line casino, and the Penn Nationwide Gaming operated Greektown On line casino generated $48.1 million in income whereas sports activities betting introduced in $2.Three million.

November slots and desk video games income for the properties plunged by 61.Three p.c compared with the identical interval final yr and dropped 48.7 p.c in contrast with numbers from this yr October. Income for desk video games and slots via the top of November decreased 54.9 p.c in contrast with the outcomes from January via November.

Compared with November 2019, MGM Grand Detroit’s month-to-month gaming income fell 62.1 p.c to $20.5 million, whereas month-to-month income for the domestically owned MotorCity On line casino dropped 57.1 p.c to $17.5 million, and Greektown On line casino noticed its month-to-month income fall 65.7 p.c to $10.1 million.

Throughout November, the three industrial casinos handed over $3.9 million in gaming taxes to the State of Michigan in contrast with final yr November’s $10.1 million.  For the month, the trio additionally reported $5.7 million in wagering taxes and improvement funds have been submitted to the Metropolis of Detroit.

Retail sports activities betting:

The casinos reported a complete sports activities betting deal with of a bit over $25 million throughout November, whereas certified adjusted receipts (which subtracts free play promotions) for his or her retail sports activities betting on the month have been $1,130,956, $645,310 and $561,372 for MotorCity, Greektown and MGM respectively.

Just below $90,000 in state taxes was paid by the casinos whereas they reported submitting retail sports activities betting taxes within the quantity of $107,999 to the Metropolis of Detroit.

In the meantime, mixture retail sports activities betting certified adjusted gross receipts for the interval via November 30, 2020, have been $7.four million for MGM Grand, $5.four million for MortoCity, and $3.6 million at Greektown.

Market shares:

Based on the MGCB, November market shares primarily based on mixture income together with slots, desk video games and retail sports activities betting have been 42 p.c for the MGM Resorts Worldwide-operated MGM Grand, 37 p.c for the Marian Ilitch of IH Gaming (Detroit Leisure, LLC)-owned MotorCity, and lastly, 21 p.c for Greektown On line casino.

Prolonged closure:

As COVID-19 surges on in Michigan, on Monday, December 7, 2020, an up to date order put in place by MDHHS Director Robert Gordon, closes casinos and different leisure venues via at the very least December 20. The unique order in impact from November 18 was set to run out Tuesday, with Governor Whitmer saying the 12-day extension on Monday, in accordance with a number of information shops.

Michigan’s 24 American Indian tribal casinos, that are owned by federally acknowledged sovereign nations and ruled by the Nationwide Indian Gaming Fee (NIGC), don’t fall below the jurisdiction of the MDHHS and due to this fact are usually not topic to the order.

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