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, which was subsequently followed by the legalisation of online casino platforms in Michigan, so it makes sense that most players lean toward the digital option.
Market share among the three casinos broke down like so:
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.