Surpassing its 2018 high by more than $10 million, Detroit’s three casinos reported $1.454 billion in record adjusted gross revenue last year, with MotorCity Casino Hotel and MGM Grand Detroit having contributing record years, according to the Michigan Gaming Control Board.
In the lead in 2019 with 43 percent of the market share was MGM Resorts International’s property on 3rd Avenue. One of four in the Detroit-Windsor area, the casino at the luxury resort hotel made $623.5 million in revenue, topping its previous year’s record by 0.7 percent, according to the state’s gaming regulator.
“Both MGM Grand Detroit and MotorCity Casino experienced their highest yearly adjusted gross revenue totals since the casinos opened in 1999.”
Other pieces of the pie:
Owned by Marian Ilitch, whose husband Mike Ilitch owns the Red Wings and the Detroit Tigers, MotorCity Casino Hotel claimed the second-largest piece of the pie with 34 percent of the market share. According to the Michigan Gaming Control Board, at $493.6 million, the property’s revenue beat the record it set the previous year by 0.8 percent.
The remaining 23 percent of the market was dominated by Greektown Casino, owned by Vici Properties and operated by Penn National Gaming, which has revenue of $337.2 million. While an increase of 0.6 percent from the previous year, it came in under its 2011 record of $352.8 million. The trio of casinos that year [2011] achieved a revenue record at the time of $1.4 billion.
According to data from the Michigan Gaming Control Board…
…in 2019, market share percentages remained the same from full-year 2018 figures.
Each one of the Detroit casinos experienced a year-over-year swell in fourth quarter revenue in 2019:
- Greektown revenue increased 3.4 percent to $87.1 million
- MotorCity revenue rose 2.9 percent to $123.4 million
- MGM Grand revenue inched 0.2 percent to $157.2 million
Greektown also claimed the largest year-over-year increase in December, when its revenue for the month increased 2.2 percent to $30.1 million, while MotorCity’s increased nominally to $43.3 million, and MGM’s fell 0.5 percent to $54.4 million.
Gaming taxes:
In 2019, The Great Lakes State collected $117.8 million in gaming taxes, up $800,000 from the year prior. The city of Detroit, meanwhile, was reportedly paid $184.2 million in “wagering taxes and development agreement payments” throughout 2019, compared to $182.9 million the year prior, according to the state regulatory agency’s data.
Michigan is home to three commercial casinos and as of 2018 has 12 gaming compacts with 12 Native American tribes which have produced 24 Class III tribal casinos located throughout the state, according to the regulatory agency. The gaming board does not have general regulatory authority over Indian casinos.
Sports betting in Michigan:
In related news, MGM Grand Detroit, which worked hard to bring about sportsbetting in Michigan, opened its Moneyline Sports Lounge in October. The $6 million sports bar and entertainment venue that currently features a full bar along with bar-top video poker machines, stadium seating and 60TVs, will include a number of betting windows and self-service kiosks once the Michigan Gaming Control Board signs off.
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