September 14, 2021 Sports Betting, Casino, Land-Based

Michigan casinos generate $114m in August revenue

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Michigan’s three commercial casinos – all in Detroit – generated $114m in August, a 2.6% decrease from July.

Gaming revenue at MGM Grand Detroit, MotorCity Casino Hotel and Greektown Casino was up 61.7% from August 2020, when casinos were operating at 15%. Revenue was down 5% from August 2019, the last comparable year.

MGM saw revenue of $52.2m, which represents a 47% market share. Revenue was up 82.4% y-o-y.

MotorCity was runner-up with $36.5m, up 45.9% y-o-y, while Greektown took in $23.4m for a 49.2% increase.

Michigan earned $9.1m in gaming taxes for the month, while Detroit took in taxes of $13.3m.

Retail sports betting handle at the casinos was $16.3m, a 10.9% decrease from July and the state’s lowest handle since December 2020, when casinos were closed for 20 days of the month. August handle represents the lowest full-month of wagers since Michigan fully launched retail sports betting in August 2020.

Barstool Sportsbook at Greektown led the market with handle of $8.8m but came second in revenue with $565,000. BetMGM reported $4.3m in wagers and a market-leading $850,000 in win, while MotorCity/FanDuel took in $3.2m in handle, netting revenue of $233,000.

Revenue for August was down 16.5% y-o-y but was up 36.2% from July.

The Michigan Gaming Control Board reports retail sports betting figures separate from mobile, which are due to come out in the next few weeks.

Casinos paid $62,000 in retail sports betting taxes to the state and $76,000 to the city of Detroit.

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