Normal operations might still be a few months away for Detroit’s casinos, but the trio of commercial properties continues to prove viable while operating at limited capacity.
Detroit casinos earned $86.38 million in February revenue, according to a Tuesday press release from the Michigan Gaming Control Board. Michigan’s three commercial casinos all operate from Detroit, and all were obliged to run at 25% capacity throughout the month due to COVID-19 restrictions.
Overall revenue took a slight dip from January to February, with the $86.38 million figure marking a 4.9% decline in month-to-month revenue. MGM Grand Detroit (40% market share) regained its spot on top of Michigan’s land-based casino industry, followed by MotorCity Casino (36% market share) and Greektown Casino (24% market share).
While the numbers were down just under 5% month-to-month, the February numbers come alongside the first full month of operations for online casinos in Michigan. Mobile casinos debuted in Michigan on Jan. 22, with revenue numbers for those products expected soon from the MGCB.
Breaking Down The February Numbers For Detroit’s Casinos
February’s revenue numbers mark a 29% decline in month-over-month revenue versus 2020. Considering the 25% capacity limitations, casino operators could certainly see the February 2021 revenue numbers as a victory for Michigan’s commercial casino industry.
Retail sportsbooks took a $77,627 loss for February. Factoring sports betting out of the equation, Detroit’s casinos earned an almost identical monthly aggregate revenue figure on slots and table games from January ($86.78 million) to February.
The February revenue numbers resulted in $7 million in tax revenue for the state, and an additional $10.3 million in “wagering taxes and development agreement payments” to the City of Detroit, according to the MGCB press release.
Michigan plays host to the trio of Detroit commercial casinos, as well as more than 20 tribal casinos situated around the state. Revenue numbers from the tribal properties are not publicly released.