Latest Esports News

Detroit casino revenue climbs 8.9% YoY in April

109

Revenue from the three land-based commercial casinos in Detroit, Michigan was up 8.9% year-on-year in April to $118.7m (£97.1m/€114.2m).

The monthly total surpassed the $109.9m generated at the venues in April last year but was 3.4% lower than $122.9m in March of this year, figures published by the Michigan Gaming Control Board (MGCB) showed.

The year-on-year increase was primarily attributed to the three casinos operating at reduced capacity in April of last year, in line with novel coronavirus (Covid-19) measures in the state, whereas this year, such restrictions have been removed.

The MGM Grand Detroit retained top spot with a 48% market share, ahead of MotorCity Casino on 31% and Penn National’s Greektown Casino Hotel with 21%.

Table games and slots accounted for $116.9m in revenue during April, up 8.8% on last year.

MGM led the way here with $56.8m in revenue, up 31.4% year-on-year. In contrast, table games and slots revenue fell 8.8% to $36.4m at MotorCity and 2.6% to $23.7m at the Greektown.

Total qualified adjusted gross receipts (QAGR) from sports betting activities amounted to $1.9m, up 21.3% on the previous year.

Greektown ranked first here with $912,513 in sports betting QAGR, ahead of MotorCity on $552,841 and MGM with $405,385.

The casinos processed a total of $24.8m in sports bets, with gross receipts at $1.9m, while $70,714 was paid in state taxes and $86,428 in retail sports betting tax to the City of Detroit.

Read the original article Here

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy