Large numbers in September for Detroit casinos


Large numbers in September for Detroit casinos

14 October 2020

(PRESS RELEASE) — The three Detroit casinos reported $87.9 million in month-to-month combination income in September whereas persevering with to function at 15% capability because of COVID-19 well being considerations. The casinos’ combination income for slots and desk video games was down 21.7 p.c in contrast with September 2019 outcomes and has declined 58 p.c 12 months so far in opposition to final 12 months.

In contrast with September 2019 outcomes, income fell by 22.Three p.c to $36.1 million at MGM Grand Detroit, 17.Three p.c to $32.2 million at MotorCity and 27.2 p.c to $19.6 million at Greektown.

Month-over-month income for September was up 26.eight p.c in contrast with August numbers for the three casinos.

The market shares throughout September have been:

– MGM, 41 p.c

– MotorCity, 37 p.c

– Greektown, 22 p.c

For the third quarter, the three casinos’ combination income of $157.Three million was down 55.2 p.c in contrast with the identical interval final 12 months. Quarterly income dropped 57.2 p.c at MGM Grand Detroit, 52.2 p.c at MotorCity On line casino and 56.1 p.c at Greektown On line casino.

The casinos have been closed all through July. MotorCity On line casino and Greektown On line casino reopened Aug. 5. MGM Grand reopened to most of the people 7 August.

Gaming Taxes

Throughout September, the three Detroit casinos paid $7.1 million in taxes to the State of Michigan in contrast with $9.1 million for a similar month final 12 months.

The three Detroit casinos reported submitting $10.5 million in wagering taxes and improvement settlement funds to the Metropolis of Detroit throughout September.

Retail Sports activities Betting Income and Taxes

The three casinos reported $4.Four million in certified adjusted gross receipts throughout September:

– MGM, $2,096,337

– MotorCity, $1,557,561

– Greektown, $722,509

Certified adjusted gross receipts are gross sports activities betting receipts minus the financial worth of free play incentives supplied to and wagered by bettors.

The state acquired $165,428 in retail sports activities betting taxes from the Detroit casinos throughout September. The casinos reported submitting $202,190 in retail sports activities betting taxes to the Metropolis of Detroit.

Yr so far by September 30, combination retail sports activities betting certified adjusted gross receipts have been:

– MGM Grand Detroit On line casino, $3,113,634

– MotorCity On line casino, $2,055,785

– Greektown On line casino Lodge, $1,289,589

Fantasy contest operators reported complete adjusted August revenues of $2.Three million and paid taxes of $189,875 to the State of Michigan (see full report right here).

Yr so far by August 31, fantasy contest operators reported $7.2 million in combination fantasy contest adjusted revenues and paid the State of Michigan $604,321 in taxes.

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