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During the shutdown of Detroit casinos, at least one person emerged as a winner.
In the Motor City, legal bets had not been placed for over five months until last week, and the launch of online gambling in Michigan is still pending.
However, there is an extraordinary summer happening below the Ohio state border.
In July, Hollywood Casino in Toledo experienced a surge in revenue, breaking previous records. Meanwhile, approximately 60 miles north along Interstate 75, Detroit’s casinos remained closed.
Last week, Detroit’s Greektown Casino-Hotel, MGM Grand Detroit, and MotorCity Casino reopened after being closed due to the COVID-19 pandemic, with a limited capacity of 15% in compliance with restrictions.
Once the Detroit gambling houses have resumed operations, we will observe the extent to which the August revenue in the Buckeye State is affected.
Hollywood Casino sets Ohio record with July revenue
After being permitted by Gov. Mike DeWine on June 19, casinos in Ohio were able to resume operations, making July the inaugural complete month for the comeback of gambling.
The casinos raked in the money.
In July, Hollywood Casino achieved its highest monthly revenue of $33 million, surpassing all other casinos that opened since 2012. However, in July 2019, Hollywood’s revenue dropped to under $17 million.
Before last month, Horseshoe Cleveland Casino held the all-time monthly revenue record in Ohio. This casino, owned by Dan Gilbert from Michigan, generated more than $26 million in June 2012, marking its first complete month of operation.
Michigan gamblers clearly helped Toledo’s boom
According to Jessica Franks, a representative of the Ohio Casino Control Commission, the major contributing factor to the issue is out-of-state gamblers, specifically individuals from the Great Lakes State, as stated in an interview with the Toledo Blade.
It is logical: Due to the closure of the Canadian border to Caesars Windsor, the closest Michigan tribal casinos are approximately a two-hour drive away from metro Detroit.
According to her statement to the newspaper, she mentioned that Detroit’s three casinos were closed until last week. Additionally, considering the Toledo casino’s proximity to the Detroit area, she believes that many people from Detroit likely visited Toledo for gambling.
“We’re intrigued to witness the unfolding events following the reopening of Detroit casinos. We’re particularly curious about the upcoming developments next month.”
In July, the revenue generated by the four land-based Ohio casinos amounted to $86 million, reflecting a notable 22% growth compared to July 2019, during which the total gaming revenue stood at $70 million.
Detroit casinos should cut into Ohio’s August
Similar to the current situation in Detroit, the Ohio casinos have implemented safety measures. Only a restricted number of slot machines are accessible, while the poker room remains temporarily closed.
However, Detroit’s casinos have a significant challenge ahead as they strive to recover from the time they have lost.
After being closed for nearly five months starting on March 16, Detroit’s casinos experienced a 65% decline in year-over-year revenue compared to 2019, as of July.
Not only does the shortfall negatively impact the state and city of Detroit’s budgets, but it also causes significant financial harm to corporate owners.
However, at least in the southern region, someone has reaped the rewards.
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