Detroit’s commercial casinos reported $113.84 million in monthly revenue for March 2021. During that time, the properties were operating wat limited capacity.
The land-based revenue breakdown for Detroit’s casinos highly favors slots and table games, which generated $110.87 million. Retail sports betting, meanwhile, nabbed $2.97 million. Michigan launched online sports betting in January, so it makes sense that most players lean toward the digital option.
Market share among the three casinos broke down like so:
- MGM Grand Detroit: 39%
- MotorCity: 38%
- Greektown: 23%
Table Games And Slots
As mentioned above, table games and slots accounted for the vast majority of Detroit casino revenue in March. Revenue rose 93% from the same period last year in this space.
In March 2020, the casinos were forced to close due to Covid-19 health concerns, bringing a predictable but still significant year-over-year spike for Michigan’s commercial casinos.
“MGM earned $43.21 million in monthly revenue, an 80.6 percent increase. MotorCity revenue rose 107.2 percent to $42.04 million. Greektown saw a 93.7 percent increase in monthly revenue, posting $25.62 million,” says the release from the Michigan Gaming Control Board.
Compared to February 2021, March still brought a significant spike. Detroit casino revenue increased 28.2% from the previous month.
Q1 2021 Revenue dipped 5.1% from the same period last year.
Retail Sports Betting Revenue
Adjusted gross receipts for retail sports betting among the three casino properties totaled $2.97 million in March. Here’s the breakdown:
- MGM Grand Detroit: $868,206
- MotorCity: $1,276,470
- Greektown: $825,479
Total handle reported reached $24,241,730.
Detroit Back On The Upswing?
To say it’s been a tough period for Detroit casinos would be an understatement. The properties had to deal with closures as a result of state regulations stemming from the Covid-19 pandemic. Tribal competitors, meanwhile, had a bit more flexibility since they weren’t subject to all state regulations. Some tribe-run properties remained open while Detroit casinos could not throughout various periods in 2020.
But as gambling returns, even in a truncated capacity, Detroit casinos are showing some promising revenue numbers that could hint at a new prosperous period.
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