Detroit Casino Revenue Rises With Big Changes on Horizon
Detroit’s three commercial casinos – MGM Grand, MotorCity Casino and Greektown Casino – all saw an increase in their revenue for November 2019, according to the official Michigan Gaming Control Board report.
The three Detroit casinos combined for a total adjusted revenue of $124.20 million in November 2019, marking an increase from October’s combined revenue of $115.66 million. In November 2018, all three casinos combined for a revenue of $117.61 million.
For November 2019, the Detroit casinos paid $10.06 million in gaming taxes and $19.72 million in wagering taxes and development agreement payments.
MGM Grand Remains Detroit’s Most Popular Casino
MGM’s Detroit casino remained the most popular gambling hall for players in the Motor City for the month of November with a 43% market share. In November, MGM Grand garnered a total adjusted revenue of $53.9 million, an increase from October’s $48.86 million. MGM’s casino also surpassed November 2018’s revenue of $52.41 million.
MotorCity Casino was the second-highest draw in November with a market share of 33%, totaling $40.78 million in total adjusted revenue. MotorCity Casino’s October 2019 total adjusted revenue was $39.30 million and the November 2018 revenue was $38.04 million.
Greektown Casino had a market share of 24% in November with a total adjusted revenue of $29.52 million. In October, Greektown Casino saw a revenue of $27.48 million. Greektown’s revenue also increased compared to November 2018’s total adjusted revenue of $27.15 million.
Michigan Passes Sports Betting & Online Gambling Bill
The three Detroit casinos, as well as more than two dozen tribal casinos spread out over Michigan, are part of a shifting gaming landscape in the state.
On Wednesday, the Michigan Legislature approved gambling expansion bills for online gaming and sports betting.
After nearly a year of negotiations the Michigan House of Representative passed the online casino and sports betting bills that were ultimately approved by legislation on Wednesday.
Supporters of sports betting and online gambling in the House Ways and Means Committee reached a compromise in November with Gov. Gretchen Whitmer to pass the gambling bills in the House.
Part of the package includes increasing the sports betting tax rate for Native American sportsbooks from 8% of operator winnings to 8.75%. The three Detroit casinos will pay a rate of 12%.
Gov. Whitmer initially sought online gambling rates of 40% of winnings but agreed on a tiered system instead, with rates as low as 4% for some rural tribal casinos and as high as 26.25% for the three Detroit casinos.