Home > Casino & games > Detroit commercial casinos post $101.4m in revenue for October

Detroit commercial casinos post $101.4m in revenue for October

| By Robert Fletcher
Detroit’s three commercial casinos reported $101.4m (£76.6m/€86.2m) in revenue for October, including $7.6m from sports betting, while the Michigan Gaming Control Board has approved the renewal of each operator’s casino license for the next year.

Qualified adjusted gross receipts for sports wagering – gross receipts minus the monetary value of free-play incentives provided to and wagered by players – was 72.7% higher than $4.4m in September, the first full month of regulated sports wagering in the state.

Retail sports betting went live in Michigan on March 11, but properties were forced to close a matter of days later, after the state went into lockdown as a result of the novel coronavirus (Covid-19) and did not reopen until August 5.

MGM Grand Detroit retained top spot in the sports betting market with $3.7m in adjusted gross receipts, ahead of MotorCity Casino on $2.2m and the Greektown Casino with $1.7m.

The three properties paid $287,166 in state taxes on retail sports betting during October, as well as $350,980 in taxes to the City of Detroit.

Read the full story on iGB North America.

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