Detroit’s three commercial casinos brought in $120m in revenue in January 2020, up 7.1% year-on-year, as revenue from each casino increased. This revenue figure was 6.1% below December 2019’s total, however.
The MGM Grand Detroit was the largest contributor to the state’s casino revenue, bringing in $50.0m, up 2.1% year-on-year, while the Motor City Casino, owned by Ilitch Holdings, reported an 11.7% rise to $41.8m.
The Penn National Gaming-operated Greektown Casino, meanwhile, saw revenue grow to $28.2m, and 9.8% year-on-year increase.
The three casinos paid $9.7m in gaming taxes to the state of Michigan in January, plus a further $14.3m in wagering taxes and development agreement payments to the City of Detroit. In 2019, the three casinos combined to bring in a total of $1.45bn in revenue.
Detroit’s gambling market could be set to grow significantly in 2020, after Michigan governor Gretchen Whitmer ratified bills to legalize sports betting and online gaming in the state, in December last year.
Whitmer signed House Bill 4311, which creates the Lawful Internet Gaming Act, allowing the Michigan Gaming Control Board to issue new licenses for online and mobile casino games in the state.
The Governor also signed HB916, which creates the Lawful Sports Betting Act, allowing tribal and commercial casinos to offer over the counter and online sports betting, taxed at 8.4% of gross revenue.
No Copyright infringement intended. Video/Photo Unknown Direct for credits/issue or text us +57 3606412 ... | Respect to Photographers & Influencers
