Detroit casinos suffer from capacity limits; year-to-October revenue down 54%
Detroit’s three casinos suffered from capacity limitations for the month of October, posting revenue of $101.4m. As a result, year-to-date revenue was down 54% compared with 2019, totalling $550m for the first 10 months of the year.
The MGM Grand, Greektown and MotorCity casinos in Detroit are all currently subject to a 15% capacity limit as the result of the COVID-19 pandemic.
According to data from the Michigan Gaming Control Board, gaming revenue for MGM was down 23% for the month to $37.8m. Meanwhile, MotorCity’s revenue fell by 8% to $36.3m, while Greektown saw the most significant drop of 28% to $19.7m.
Of the total monthly revenue, table games and slots generated $93.8m, while retail sports betting posted $7.6m. Table games and slots revenue fell 19% in comparison with the same period in 2019. Michigan’s sports betting market only went live in March this year.
The amount of taxes paid by each casino was also down as a result of the lack of revenue. The casinos paid $7.6m to the State of Michigan over the course of the month, in comparison to $9.4m for the same month in 2019.
Despite the drop in revenue year-on-year, there were some signs of recovery evident in 7% month-on-month growth.
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