GM Grand Detroit, MotorCity Casino, and Greektown Casino netted nearly $109 million in revenue in April. Table games and slots generated about $107.4 million in revenue, while retail sports betting generated about $1.5 million.
According to the Michigan Gaming Control Board (MGCB), which released the latest revenue numbers Tuesday, April revenues were down 3.1% compared to March. MGCB reported that through April, gaming revenue from table games and slots for the three venues was up 30.9% over the first four months of 2020.
Last month, MGM Grand Detroit led the pack with a 40% market share, followed by MotorCity Casino Hotel with 37% and Greektown Casino with 23%. Collectively, the three casinos paid $8.7 million in gaming taxes to the state for April, MGCB reported. They submitted $12.8 million in wagering taxes and development agreement payments to the city.
The casinos reported a total handle, the amount of money wagered, of $24,337,682 in April, on the retail sports betting side. Gross receipts totaled more than $1.5 million. The casinos paid $58,308 in retail sports betting taxes to the state and $71,265 to the city, according to Detroit News.
According to PlayMichigan.com, nearly $885 million in bets, out of the $1.02 billion total, have occurred in 2021 and online wagers have generated $776.5 million through March. Analysts say the milestone signals just how strong Michigan's sports betting market is. It's already grown to one of the largest in the country, with plenty of room for further expansion.
Matt Schoch, PlayMichigan.com analyst stated: "The launch of online betting unlocked an avalanche of pent-up demand, which had been building up for much of 2020 as the pandemic shut down the fledgling industry. The phased rollout of online betting delayed this surge by several months, but the result is an expansion unlike any we have seen in the U.S. to date. With high demand and an appealing, balanced regulatory framework, the market is well-positioned for the long term, too.”
The American Gaming Association (AGA) reported this week that U.S. commercial gaming revenue topped $11 billion in the first quarter of 2021, matching the third quarter of 2019 as the industry's highest-grossing period ever. The association pointed to the results as a sign of an "accelerating recovery" for the industry, noting that March marked the highest-grossing revenue month in history for U.S. commercial gaming.
AGA President and CEO Bill Miller said in a statement: "Today's report shows gaming's comeback is ahead of schedule."