Michigan Casino: MGM flourishes in Detroit’s market in January

Michigan Casino: MGM flourishes in Detroit’s market in January

In January, Michigan‘s three real-money casinos, all located in Detroit, generated $100.9 million in income, with table games and slots accounting for $98.97 million and sports betting accounting for $1.93 million. 

MGM Grand Detroit continues to lead the market with a 49 percent market share, ahead of MotorCity Casino’s 30% and Greektown’s 21%. The casinos’ January table games and slot machine revenue increased 14% compared to January 2021 but fell 11.1 percent month over month from December.

January Report for Michigan Casino Industry

In comparison to a year ago, monthly gaming income increased 43.3 percent to $48.65 million for MGM and 4.1 percent to $20.45 million for Greektown but fell 9.9 percent to $29.87 million for MotorCity. In January 2021, the casinos operated at reduced capacity due to pandemic-related health concerns. The gaming establishments paid the state of Michigan $8 million in gaming taxes, up from $7 million in the same time the previous year, as well as $11.8 million in wagering taxes and development agreement payments to the city of Detroit.

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Retail sports betting qualified adjusted gross receipts fell 52.4 percent to $1.93 million in January from a year ago and were down 74.8 percent from December. The total handle for the month was $35.87 million, with Greektown leading the way with $929,796, followed by MotorCity with $521,493 and MGM with $481,785. The state earned $73,070 in retail sports betting taxes from casinos, while the properties paid the city $89,308 in retail sports betting taxes. Fantasy contest operators reported total adjusted revenues of $772,465 and tax payments of $64,887 in December, with these figures expected to reach $16.2 million and $1.4 million, respectively, for the full year of 2021.

MGM Grand Detroit

All out-of-town visitors and locals can hear the boom from the luxurious $800 million MGM Grand Detroit. MGM Grand Detroit is the first Las Vegas-style resort to open in a large urban core, developed by MGM Resorts International, one of the world’s most respected hotel and casino firms, and funded by Metro-Detroit Partners LLC. With nearly 3,500 of the newest slots and video poker machines, nearly 150 table games, unmatched luxury rooms and suites, an array of dining options, southeast Michigan’s only resort-style spa, and 30,000 square feet of meeting and convention space, MGM Grand Detroit has established itself as the state’s ultimate hotel and entertainment destination. With about 3,000 team members, MGM Grand Detroit is one of the area’s largest employers. The MGM Grand Detroit hotel accepts visitors who are 21 years of age or older.

 

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About Lou De Aguila

Lou Aguila is a news and feature writer for Golden Casino News. For over a decade, Lou has published news and featured articles for some of the most reputable sports betting and online casino sites in the world, including BetNow.UK, VegasOdds, and BWin. Apart from being a hardcore live casino punter, he also covers sports stories in North American leagues from time to time.